Time To Flourish

Performance Improvement

Thriving, Not Just Surviving

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For over a year, many small business owners have been focused on finding ways their business could “survive” the pandemic.  And for most, the only way to survive included innovation, reinvention and a change of direction.  It’s fair to say it’s been a very difficult time for small businesses but, it’s also been an extraordinary time full of creative transitions and new ideas of how to remain in business. 

Now, the atmosphere is more optimistic and focused on looking forward.  Where do we go from here? What is our next step?  We have been stuck in “survival mode” but, now is the time to transition to “thriving mode”.  With the availability of the COVID vaccine and lighter restrictions in place, opportunities are increasing.  Reignite your growth mindset and strategically plan for the future.  How do we position our business for success and growth in this period of recovery? 

After a year of virtual meetings and remote work, it’s time to determine the model that makes sense for your organization moving forward.  Does your business require that your team return to the office?  Has the remote work model led to better results?  Is there a blended model that will provide the best solution for your business?  Here are some factors to consider as you make this decision:

  • Employee Retention:  Although this may be like comparing apples to oranges, compare your employee retention rate now with the previous year.  What are the factors that led to employee turnover?  Are new employees well supported and reaching their potential in a reasonable period of time?  Compare the current new employee retention with last year.  Assess overall performance factors such as:  meeting deadlines, quality of work, customer satisfaction, quotas, etc.
  • Customer Satisfaction:  Evaluate your customer retention rate and level of satisfaction.  Has the company’s response time to customer inquiries suffered over the past year?  Survey your customers for the feedback that will help you assess the quality of customer service.
  • Productivity:  Have your managers succeeded in keeping your employees engaged and productive in a remote environment?  How has the elimination of commuting to the office impacted productivity? 
  • Collaboration:  Evaluate the collaboration effectiveness of your team.  Are the remote meetings allowing for an energetic, interactive exchange of ideas?  Will bringing the team together physically improve their ability to develop creative initiatives? 
  • Employee Morale:  How have your employees responded to working from home? Involve your employees in the future planning using employee surveys, small group meetings, and focused committees.
  • Office Space:  By moving to a remote work model or blended model, you may be able to reduce facility expenses.  You can redesign your office space to accommodate the work environment that best fuels the creativity and productivity of your team.  If you own the building, this may open opportunity for rental income. 

In addition to where and how we conduct our business, other significant considerations include:

  • Services and Products:  The world looks very different now and there may be an opportunity for growth by providing a service or product that is currently in demand.  Is this the time to modify the scope of your business?  Is there a current need that you can satisfy by making changes to our services or products?  Are there areas of inefficiency that can be eliminated by reducing products or services? 
  • Business Expenses:  Evaluate your current vendors and the products/services that your business utilizes.  The needs of your business may be different today, allowing you to reduce certain expenses.  Shop around and be sure that you are getting the best bang for your buck.  Conduct an analysis of your operating expenses to identify areas of opportunity for cost savings.
  • Leadership:  Now is a critical time to assess your leadership team to determine their effectiveness.  An investment in leadership development will benefit the organization and result in a positive workplace culture.  Seek feedback from your employees to determine, from their prospective, the needed areas for improvement. 
  • Workforce Development:  If you haven’t experienced it firsthand, you certainly have read about the challenges in identifying and hiring the right candidates.  We are in the midst of a workforce shortage.  In addition to workplace culture, another important way to retain employees is to develop their skills and provide a robust career path within your organization. Strategically assess and plan for ways to provide
  • Agility:  A valuable lesson learned over the past year is the need for our organizations to be agile to the changing demands of our environment.  What measures are needed to provide a level of agility and flexibility throughout the organization?

With the arrival of Spring, comes a feeling of positivity for the future.  The time has come to move from surviving to thriving. This will take careful assessment of your organization’s KPIs as well as thoughtful consideration of the organization’s future goals and objectives.  Begin the process that will drive your organization to its fullest performance potential.

Time To Flourish offers executive management services such as Strategic Planning, Small Business Growth, Turnaround Operations and Change Management. Contact us to learn more about the value we will add to your strategic achievement.

Invest To Be The Best

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The experiences of 2020 have certainly pushed us to evaluate every aspect of our organizations.  Our perspective has shifted, and we look at everything a bit differently.   Whether business has suffered or prospered due to the pandemic, owners have had to cope with a new definition of “normal”.  Your management team and their ability to guide and motivate employees to perform at their highest level is critical.  

Communication, team building, and safe work environments are all important areas to examine and assess, however, it could be said that the factor most critical to the success of your organization is indeed its leadership.   No successful organization would be where it is today without effective leadership.  The demands of managing virtual workers, conducting business in an uncertain climate and coping with new obstacles tests one’s leadership abilities to the max.  Are your leaders up to the challenge?

Effective leadership is one of the main drivers for growth, achievement and innovation.  It is vital to equip your leadership team with the skills and tools needed to continuously drive business and respond to the needs of your employees.  Recent surveys have shown that productivity has been minimally or, in some cases, positively impacted by the increase in remote workers.  Managing remote teams effectively, however, is different and, in some ways, more difficult.   Particularly challenging is the onboarding of new employees and acclimating them to work collaboratively with the rest of the team.  Unlike productivity, innovation does seem to be suffering with the increase of remote work.  The lack of casual small group gatherings and “watercooler chats” has hindered the opportunity to share ideas in an informal way.

The time is right to prioritize training and development for your leadership team.  Dealing with changes in customer behavior and needs, COVID-related restrictions, changing industry demands, and  the emotional needs of employees requires strong leadership skills. Development in the areas of emotional intelligence, effective communication, team building, and managing by the numbers will enhance a manager’s ability to keep remote teams engaged and productive. 

A deep awareness and responsiveness to the differing needs of your employees is critical.  Emotional Intelligence (EQ) is defined as the ability to understand, use, and manage your own emotions in positive ways to relieve stress, communicate effectively, empathize with others, overcome challenges and defuse conflict.  To create a team in which each member feels empowered to contribute, suggest and innovate is the recipe for success.  A leader with higher EQ will be more observant, responsive and empathetic to their employees which will increase engagement and productivity.

Managers are dealing with the challenge of maintaining open pathways of communication between all team members.  This difficulty increases with remote teams, and multi-generational teams.  Training in this area will help your managers plan for effective communication and a deeper understanding of how to continuously assess the effectiveness and comprehension of communications.

 Individuals who have been promoted into a leadership position based on their excellent technical knowledge and performance, may not possess the business acumen to manage their departments by the numbers.  Understanding how to conduct a profit and loss analysis, achieve operating expense/revenue ratios consistent with industry standard, and how to positively impact your gross profit margin.

 As a business owner, an investment in your leaders will lead to the greatest return.  It is critical to take care of those that take care of your customers.  Equipping your organization with strong, effective leaders adds value for all. 

Schedule a consultations today to learn how leadership training will significantly help your organization reach its financial goals. 

It’s Time…Let’s Move Forward

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Moving forward is sometimes hard to do.  It seems funny now to recall our expectations from March or April.  Back then, cynics thought that things would be back to “normal” by the summer.   For those less realistic, it was believed that it would take 14 days to flatten the curve, then right back to it.  The reality is that the only accurate adjective for the present is “ever-changing”.  Whether your business has experienced increased performance because of the pandemic or has slowed down considerably, it is time to evolve to meet the needs of your customers.

There have been considerable examples of innovation in the last few months to get businesses going; curb-side pick-up, remote personal training, parking lot dining, cashier-less grocery stores, expedited digital banking, etc.  After all, “necessity is the mother of invention”.  If innovation and change is what you need to keep your business moving forward, now is the time.

First, there are a few critical steps to take on the road to your “new normal”.  There are many questions that need answered.  Do you need to determine a new delivery method for your product or does your product need to evolve?  How do you keep your employees and customers safe and at ease?  How do you reach new customers?  How will you provide your services with the current restrictions?  Reinvention is not easy.  However, there is no time like the present to regain control and move forward! 

How?  Of course, the answer will vary by business, but there are certain commonalities to the process regardless of business type.  It all starts with an acute awareness of your surroundings, a well-thought-out plan, and the understanding that it could all change on a dime.

 SWOT Analysis

Particularly now, it is important to identify the external factors that will impact your organization’s performance.  For this reason, it is important to conduct a new SWOT analysis.  So much has shifted in the landscape of running a business, it is not surprising to find major changes particularly in the areas of external opportunities and threats.  Action plans will be necessary for ways to optimize new opportunities and to formulate contingency plans for potential threats. 

Rethink Strategy

The strategic plan completed prior to March 2020 may not fit the needs of your organization mid-pandemic.  It has become necessary to assess and possibly rethink the current plan to identify areas of change needed to align with the current circumstances.  Will you need to change or modify services, programming, or products?  Does the organization have the right expertise in the current staff to make the necessary changes? How adaptable is your current business model?  Does the current organizational design still make sense?  These are just a few of the many questions that need answered to strategize about the future of your organization. 

Adaptability

The SOP’s followed in February may not “fit” today and, likewise, initiatives put into place today may not be effective after the next six months.  If 2020 has taught us anything, it is that we need to be flexible, ready to adapt to circumstances that may unexpectedly arise. 

Adaptability makes a great argument for taking your leaders through a mid-COVID SWOT analysis process.  By identifying the external opportunities and threats that impact your organization, you can minimize potential damage and maximize potential gain.  Contingency plans for circumstances, events, and conditions that are not under our control are the best way to safeguard your organization from harm.   How would you benefit by certain external circumstances?  What must be in place internally to take advantage of an opportunity presented to you by an external event? 

Change and innovation are the steppingstones to improved outcomes.  Although, it’s not an easy path to travel down, the destination justifies the journey.

The Time To Flourish team offers strategic planning facilitation services which allows your team to focus on contribution and content while our team leads a process rich with innovation and adaptability. Call us to discuss the advantages to our Strategic Planning service.

Marketing Tips for Retail + Restaurants: Re-Opening During the Pandemic

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If your business falls into the category of a high-traffic workplace, such as retail or restaurants, you have already reworked your model to adapt to the new rules of the pandemic. Many restaurants and stores quickly adapted to online ordering and curbside pickup.

Now that you can re-open, some are struggling with ways to entice your customers back to your business.

Here are a few tips:

  1. Spread the Word. Just like when you closed your doors and created new rules, it’s time to revisit those same marketing tools to get the word out, yet again. Pinterest, Houzz, Facebook, and LinkedIn are places where you can spread the word that you are open for business. Pinterest tells the story in pictures. Houzz is also visual, but focused on the home.
  • Facebook Boosts are also another effective way to reach out to your clients and prospects. If you don’t yet have a company Facebook page, now’s a great time to get one – start making connections and telling your story. Facebook boosts offer an affordable way to advertise; try out a campaign for $10 a day for 10 days and track your results.
  • Use the tools you already have. Change your company voicemail message with an updated one. Post signs or banners on your retail store or restaurant that tells your new way of doing business. Call and text your customers. Add a message to your website about your new rules.
  • Get Clear. After being shut-in for the past few months, there’s a variety of opinions from the public on their level of comfort on returning to ‘normal life.’ Let customers know what to expect: tell them about the ‘new rules’ at your business: social distancing, wearing a mask, washing hands, temperature taking – share what you are doing to keep customers and employees safe. Places to share it are on your website, social media, e-blasts. Not everyone likes to read, so creating a video can be helpful too. People prefer different tactics to get their info, so you may need to share this info in a variety of ways.
  • Don’t Give Up. Some customers may take longer to return to your place of business due to their personal circumstances. Continue to stay in touch with e-mail, text, phone, e-blasts. Give them online ordering options, curbside pickup, early shopping hours.

You can do it. Make the change and build a better company.

Authored by Guest Blogger Nancy Sipera.

Nancy Sipera is the president of First Impressions Marketing, a full-service, award-winning marketing firm in Cherry Hill, N.J. that works with business owners and leaders who understand the impact that marketing can have on their bottom line. Visit First Impressions Marketing online at www.MakeFirstImpressions.com

The Power of Remote Communication

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Effective communication, remote or in person, is more crucial than ever. We are all experiencing a very different normal. How do we design a professional and personal life that works during this time of isolation? It’s not enough just to communicate information, we need to convey empathy, emotion, perception and clarity with our communications.   

Effective communication remains key to creating a productive and satisfying workplace environment and to building solid relationships with our clients.  The price of poor communication is steeper with remote interaction especially during a time of crisis. An increased sensitivity to not only what is communicated but how it is communicated is needed. Frequency is also a factor that needs to be tailored based on individual need.  Understanding the needs of your employees and clients will lead to a more productive and gratifying experience. 

How do you know how often to communicate? What type of communication? What is the best path of interaction?  Each of us has different communication needs and will respond best based on the following:

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It is much more difficult to demonstrate mindful listening without visual ques like a nodding head or smile. Keep in mind that you want your communication partner to feel your presence. 

Effective communication is a powerful tool to achieve high productivity and engagement. In these special circumstances, its value is even greater because of the emotional component.  A leader who implements responsive communicating and mindful listening may help an employee struggling with anxiety and stress to improve focus and productivity.  

At all times, the power of effective communication is significant and will result in improved employee engagement, higher productivity and an increased sense of their value within the company. Establishing an effective communication strategy is complex but will greatly improve performance and outcomes. 

Is it Time to Re-invent your Organization?

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Times are always changing.  Lately, it feels like that is true in a way that no-one would have ever expected.  So much has happened and so much has changed during the first quarter of 2020 that it is only prudent to take dedicated time to truly assess where your organization stands today.  I’m fairly certain that the last time any organization did their SWOT analysis or updated their Strategic Plan, that a pandemic wasn’t something accounted for in the process.  That being said, it’s time to do just that!

What has this pandemic done to your organization’s financial stability?   Has it put your organization in hyper-growth and over-drive mode or are you concerned about making the next payroll?   How has this changed your current target audience and how will it change your target audience moving forward?   Will you need to change or modify services, programming, goods or products?  Does the organization have the right expertise in the current staff to make the changes necessary? How adaptable is your current business model?  Does the business now require a new organizational design?  These are just a few of the many questions that need answered as leaders plot out the futures of their organizations.

When I think of companies who have successfully re-positioned, re-branded or re-invented themselves the one that first comes to my mind is Netflix.  I can’t help but immediately compare the Netflix transformation to the lack of reinvention by Blockbuster.  The slowness of Blockbuster to react and respond to the changes around them ultimately destroyed a company that was once valued at almost $6 billion. Many other companies have successfully re-invented themselves including big names like Amazon, Legos, Barbie and National Geographic.  Innovation, calculated good decisions, and speed to implementing change are just a few of the necessary qualities in a transformation.

Historically it has always been critical that organizations remain acutely aware of potential external threats to their success.  It is one of the many reasons that a solid SWOT analysis is an important part of the strategic planning process.   Knowing the strengths of your organization and therefore your ability to mitigate threats is a key component to sustainable success.  

Whether you are concerned with meeting the newly increased customer demand this pandemic has created or you are concerned with your organization’s ability to meet existing lender covenant requirements; be sure to dedicate sufficient time and resources to making strategic decisions for the planning and forecasting of your organization’s future.

Is It Time For a Culture Make-Over?

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Every organization has a culture.   Whether you have 10 employees or 10,000 employees, your organization has a culture.  Some cultures are methodically and strategically designed and maintained by the organization. Other cultures happen to the organization. The question you must ask yourself, is the culture at your organization what you want it to be?  Is it productive?  Are the employees engaged and happy?  Do employees stay? Do employees refer others to work there?

In reviewing culture surveys, a consistent theme is that executives tend to have a much higher opinion of their workplace culture in comparison to the feedback from their employees.  In other words, there tends to be a gap between how executives think their employees feel and how the employees actually feel. 

An organization’s reputation for workplace culture is usually well-known in their local community or even on a global scale.  If you asked your friends or colleagues to list companies with a toxic workplace culture and to list companies with a great culture; they would easily create that list based on either their own personal experiences or stories from others.  But what about the rest of businesses?   By definition, toxic means “containing or being poisonous material especially when capable of causing death or serious debilitation”.  While many organizations don’t necessarily have a toxic environment, they often do have much room for improvement.  They are in need of a culture make-over!

Sometimes organizations start out with a dynamic workplace culture but overtime it shifts.  When an organization goes through rapid growth in a short period of time, or experiences a change of ownership, or the founder retires; all of these types of events and others can cause the culture of a workplace to shift dramatically.  And if the culture isn’t a priority and culture isn’t part of the strategy then that shift is often for the worse.

Many organizations do a lot of things right, but they fall short on being a “best of” or top-tier company to work for because they have not made their culture a part of their strategy.   SHRM reported that approximately $223 billion has been lost by companies in the past 5 years from costs associated with employees leaving due to the workplace culture.    So, even if you don’t consider your workplace to be toxic, it’s probably worth evaluating.  If you have not conducted a comprehensive and inclusive survey of your employees in the past 12 months, then it’s time for a culture survey.  All improvements start with knowing your true baseline. 

Here are 10 signs that your organization needs a culture make-over:

  1. There is poor and/or haphazard communication.
  2. It is sometimes unclear to employees how decisions are made.
  3. There are instances of favoritism.
  4. There are instances of nepotism.
  5. Not all the bosses maintain the open-door policy.
  6. Employees feel unappreciated at times.
  7. Some of the good employees have been resigning or are job hunting.
  8. There is no clear succession planning in place.
  9. Employee professional development and career pathing is non-existent or lacking.
  10. There is high volume of gossip and drama.

If any of these resonate with you, then your organization is ready for a culture make-over. Contact Time To Flourish to learn more about how to “Makeover” your workplace culture.

Workplace Culture and Remote Workers – How To Make It Work

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Building a productive and collaborative culture is undoubtedly a difficult initiative requiring the commitment of everyone, from the very top to each branch and department.  Business owners and CEO’s acknowledge that employee engagement is crucial.  They are allocating resources to build a great workplace culture such as staff positions focused on people and culture, and talent optimization resources such as The Predictive Index.

One workplace trend that is presenting a significant challenge is the move towards greater numbers of employees working remotely.  There is great value in this trend including increased productivity, employee satisfaction levels and decrease of fixed real estate costs.  In fact, one study found that 73% of all departments will have remote workers by 2028 (Upwork, 2018).  So, the obvious question is, how do you build a productive workplace culture when you are managing employees who telecommute? 

Here are a few recommendations for building a great workplace culture for your remote teams.

  • Review/create Organizational Values:  If your organization has not selected a set of values that guide direction and mold workplace culture, then, make it a priority to create them.  If possible, involve all your employees in the process of selecting your values which will result in a sense of ownership across the organization.  This process will boost your culture in a positive way.  If you already have organizational core values, ensure that they are integrated and evident in the day-to-day business. 
  • Communicate culture:  Workplace culture is kept alive by including it in our conversation and our actions.  The challenge is to create a virtual world reflect the same values that exist in the brick and mortar world.
    • Incorporate workplace culture into each meeting by integrating core value and mission into the meeting objectives.
    • Ensure that the values and mission are evident and visual.  (incorporate them into presentation slides, emails, intranet portals, internal forms, etc.)
    • Ensure that remote workers are subject to the same culture as if they worked onsite.  For example, if your organization has an open-door culture at all levels, create a virtual open-door policy providing the same access and transparency.  If the culture is high energy and fun, then plan for ways to extend this to all remote workers.  For example, a virtual “State of the Company Pep Rally”, or maybe a virtual “Let’s go to the Movies” afternoon.
  • It’s crucial to foster a team environment from Day 1
    • Introduce new team members using video conferencing.  Have your team introduce themselves and mix it up sharing fun facts.
    • Devise a system where new team members are required to interact with other team members early on (mentor system, committee contribution, etc.)
    • Encourage sharing of best practices among the team to draw new team members into the fold.
    • As the leader, learn about your team members, strengths, areas for development, preferences, etc. 
  • Communication:  The challenge of managing remote workers is the tendency to have one-way communication.  Encourage open and multi-direction communication to eliminate feelings of isolation and separation.  Isolation and disconnection will lead to disengagement.
    • Establish a very specific system of communication
      • One-on-one calls/meetings
      • Group/team meetings
      • Weekly status updates
    • Schedule regular “all staff chats” using video conferencing as frequently as possible
    • Employ chat tools such as “Slack” to encourage communication and exchange of ideas
    • Keep it fun – for example, trivia question of the week, predictions of sports outcomes, discuss cliffhangers on commonly watched TV programs, etc.
  • Employ solid management skills
    • Get to know each member of your team
    • Quickly identify atypical behavior to catch potential issues
    • Learn individual strengths to create best partnerships/groupings within the team
    • Be cognizant of the need to vary management styles when working with a multi-generational workforce.  Ensure that you are sensitive to their “comfort zone” and work to draw everyone into the same space for highest productivity.

Global teams across multiple time zones experience similar challenges and certainly could benefit by similar strategies to open two-way communication.  Focusing on the workplace environment that you build for your remote employees will increase the advantages of a remote workforce.  The alternative will create issues which will negatively impact your growth and financial success.