Tips For Getting The Best Out Of Your Team
At Small Fish Business Coaching one of the areas we concentrate on to improve profitability is Increased Productivity. This means getting the best out of your team which leads to better performance and in the end –increased profitably.
After all, its Business coaching isn’t it?
Here are some tips for business owners and managers to improve profitability and performance in their teams:
- Communicate clear expectations - For people to perform well and continue to grow and learn they need to know what’s expected of them. At Small Fish we help business owners formulate a “Strategy on a page”. This clearly defines the Vision for the business, the VITAL FEW things that need to be done to achieve that vision and the individual strategies that must be accomplished. This can be shared with staff and strategies can be related to individual expectations, which become the standards by which performance will be judged. At least they will know – “this is what I need to do to achieve the strategies”
- Focus on specific areas that require improvement - To get the best out of your team it’s a good idea to pinpoint exactly what needs to be improved. If Sales are low and sales require quotes to be produced, then focus on driving improvements in the number of quotes put out. Monitor them and put KPI’s in place. Provide feedback and assistance to the Salesperson to make sure they are meeting their targets.
- Help remove obstacles - To perform anywhere near top capacity, individuals may need help in removing obstacles. Managers and Business owners should be that “snowplough” that keeps the road clear for their staff to perform at top capacity. For example if a staff member was having trouble getting work done because their computer was slow or old; it may be time to upgrade it so they can work faster. Keep your eye open all the time for obstacles that could be holding back your team and remove them. People have improved motivation when they see you actively helping them do their job better.
- Gain a commitment to Change - Unless you can get a commitment from a staff member to improve in any area, that member may not attain the higher performance. They must want to do it, and they should communicate that to you genuinely. There’s some skill to get an intuitive feel when employees are serious or not about performance improvement. Look out for clues like: over agreeing about the need to change and agreeing to change without any emotion. These may be hints that they aren’t genuine about it.
- Applaud good results - Always praise people when they’ve made their targets or gained that improvement no matter how small. There’s nothing like genuine encouragement and positive reinforcement especially in front of their peers to make them feel good about what they have achieved. Managers often forget this important facet of their role. Enforce that encouragement with a small gift like movie tickets or a book, because this makes them feel good about the achievement for longer, and gives them the opportunity to tell their family and friends about it.
So there you have it ...- Five ways to improve productivity in your team.
Steve Eastwood
Small Fish Business Coaching Melbourne
www.smallfish.com.au
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How Much Profit Is Your Business Leaking?
Most businesses leak profit, often for simple reasons, which can easily be fixed. Is your business leaking profit?
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Click below to read more or to book yourself in for a good probing (with questions of course). We think you’ll like it.
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Regards,
The Small Fish Team
Anonymous 20-Jan-2012 03:55 AM
Un bon blog, bien écrit, merci.
Creative Problem Solving
“Thank you for calling the Creative Business Seminars.... If you would like to become more creative ............Press 1 without touching your handset!”
A cartoon by Randy Glasbergen caught my eye this weekend and it got me thinking – just what makes one person more creative in solving problems than another? Are there techniques that can be used by normally non-creative people (such as myself) to make them more creative?
After all, businesses are always talking about being more creative: 10 new Creative marketing strategies, 7 Creative selling techniques to name a few that do the rounds. (By the way- just for the record - Small Fish does not endorse creative tax minimising strategies in case you were thinking that).
Anyway, it seems being creative isn’t just about finding creative solutions to problems. It seems there’s more to it than that, like for instance starting off by understanding the problem in different ways.
I heard it once said...pretend the problem is a jigsaw puzzle. Now break it up and turn over the pieces in your hands. Look at them again and again...what do you see? Straight edges, corners, middle pieces?? Reds together, greens and blues...I’m sure you get the idea. By looking at the problem from different angles you discover unique solutions from a different perspective.
Another writer suggested using creative “jamming”, like a jazz group. Jamming entails giving the problem to a group of people and getting them to give it a good “working over”. Pass it around, tear it apart, put it back together, and turn it over again and so on. The group often sees more than the individual.
Another way is to “tell a stranger” ... This entails describing the facts and situation to someone not related to the problem. Get them to explore the problem with you and get them to ask you questions. By verbalising the problem, putting it in your own words, you are more likely to view the problem differently, and this opens up creative solutions.
So there you have it – if you have a business problem you’ve been struggling with, GET CREATIVE with it....and of course you could always get your business coach to help you.
Steve Eastwood
Small Fish Business Coaching Melbourne
www.smallfish.com.au
Jon Dale 21-Oct-2011 05:21 PM
Maybe the stranger you tell it to is your business coach. I'm sure that's one of our functions - looking at a business from outside rather than inside. I think I should wwrite that down.
9 Ways to Improve Your Sales - A Lesson from Beaurepaires
With small business doing it tough these days it pays to get back to the basics.
Here’s how I was given a lesson on marketing, sales and a touch of classy customer service this week by Beaurepaires Burwood.
It started with a thought...and ended in 4 new tyres.
I decided since I had an hour free I would get a quote for new tyres for my car before a well meaning member of the Victoria police decided they would force the issue by adding to the state coffers. It’s one of those jobs you keep putting off because ....well.... you know it’s going to hurt the hip pocket.
In my local area I have two main tyre suppliers just a block away from each other, so off I went to get two quotes (as you do).
I remembered a while ago my wife had taken her car in to the local Beaurepairs for a simple puncture repair (a $20 sale) and they were really helpful so my first thought was to call in there – after all there was a bit of a relationship already.
Lesson 1: Be excellent on even tiny sales -you never know where they may go and they start your business relationships.
I pulled into Beaurepaires Burwood store. Great location – right on the corner with space to park in the driveway.
Lesson 2: Make sure you are where your customers can easily find you.
Walking in to the shop I was greeted by two smiling shop assistants who were busy on the computer at the time but quickly stopped what they were doing and stood up to see to me.
“A quote? No problem, let me out come and have a look”. Anthony quickly diagnosed what I already knew.... 4 new tyres all round.
Lesson 3: Focus on the customer – they are the most important person in the store at the time.
I explained that the tyres I had on the car seemed very hard and was that normal? Straight away he took me over to a pile of tyres and pulled one down off the shelf and pointed out the features of how great they were. – “These have just come off the truck -here.....feel they have a soft lining – these will be great on your car and fix the hardness problem."
Lesson 4: Know your product, listen to your customer, and provide a SOLUTION and let them feel like them own it.
“No problem, sounds good– but how much?”. I was still in the “I want a quote” mode.
“Well today we just happen to have a Buy 4 -get 1 free that’s 25% off so I can do a really good deal for you”.
Lesson 5: Make the price attractive (not cheap – these are $250 tyres here!) the customer must perceive it to be value for money.
“And – I can fit them today! Can you leave your car with us?”. Anthony even offered to drop my keys in the letterbox because I wasn’t sure if I would be able to pick the car up before closing time. How good was that? Anthony certainly wasn’t going to let me go off and get that second quote.
Lesson 6: Make it easy for your customer to do business with you.
So there I was standing in the shop with all the barriers to buying removed and a fantastic offer on the table. What else could I say?
Wait... there’s more:-
“And by the way – for an extra $7.50 a tyre we can give you extra protection so if any tyre is destroyed or damaged during its lifetime for any reason we’ll replace if free. (Conditions apply I’m sure).
“Great! - I’ll take that”....
Lesson 7: Upsell Upsell!!- If the margin on a $250 tyre was say 30% (I’m guessing here) the profit would have been $75.00. By getting an extra $7.50 out of me per tyre with no extra cost to the business the profit suddenly became $82.50. Now the gross margin is 33%!!! Straight to the bottom line!
I am pleased to report I am extremely happy with my new tyres and marvel at the way the whole transaction was handled. Well done Beaurepaires Burwood, here are the 9 things I learned from your business this week.
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Start your business relationships early no matter how small
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Position yourself where your customers can find you
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Focus on your customer, they are your most valuable asset at the time
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Know your products features and benefits
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Listen to your customer’s pain points and provide SOLUTIONS to them
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Help your customer feel like they already own your product before they buy
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Make it easy for you customer to deal with you
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Find something you can add to the sale without adding to your cost
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Provide excellent customer service
A real life lesson written by:
Steve Eastwood
Small Fish Business Coaching Melbourne
www.smallfish.com.au
natasha Vanzetti 21-Jun-2011 10:44 AM
Couldn't agree more! Good to see some businesses still understand the value of excellent customer service.
Somethings Fishy at the MyBiz Expo in Melbourne
If you’re going to be in Melbourne on Thursday 16th or Friday 17th June, you can meet some of the Small Fish team in person at the MyBiz Expo.
The Expo promises to be a fantastic networking event, with the opportunity to meet many people and gather some valuable and useful information that can help you in your business.
We would love the opportunity to meet with you too, to talk about your business. Could your business be more profitable? Is your business and the environment it operates within changing? Does the business leave you with enough time to enjoy your success? Are you in control of your business, or is it the other way around?
Speaking with a business coach in person is a great way to discuss these things, and to find out whether a business coach might be able to benefit you and your business.
Alternatively, you might be considering becoming a business coach yourself. Being a business coach is not for everyone. It is hard work, but very rewarding as you get to work with and help a broad range of people in business.
Come down and talk with the team to find out first-hand what being a business coach is all about. This is also a fantastic opportunity to discover the benefits joining forces with Small Fish!
The MyBiz Expo is being held at the Melbourne Convention Exhibition Centre from Thursday 16th to Friday 17th June, and Small Fish will be at Stand 30. To find out more, and to preregister, click here.
Regards from The Small Fish Business Coaching Team
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Zappos - Going to Extremes for customers!!!
I read a great article recently by the CEO of Zappos' Tony Hsieh on how they go that extra mile for their customers and that has resulted in phenomenal growth - from $184m in 2004 to over $1Billion turnover in 2009!!!
From humble beginnings in 1999, when Tony Hsieh invested $500,000 in what was universally considered a bad idea at the time: an online shoe store, Zappos quickly became the leading online apparel and footwear provider by striving to provide shoppers with the best possible service and selection. They offer millions of products from over 1000 different brands of clothing and shoes and are now owned by Amazon who bought them in 2009 for $1.2billion.
In 2004 they moved their entire workforce of 70 staff from San Francisco to Las Vegas to make use of the 24/7 customer service mentality and culture where people are used to thinking of customers as guests. It certainly paid off and was a great strategic decision.
They champion the telephone as one of the best branding devices they have – far better than social media and “integration marketing” – Tony says “you get the customers undivided attention for 5 – 10 minutes and if you get the interaction right they remember it for a long time and tell their friends about it.
How did they do it?
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They make customers count and achieve exceptional customer service!!!
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Make customer service a priority throughout the WHOLE company – not just a department
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Empower employees – don’t let them have to escalate a problem to their supervisors
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Fire customers who are insatiable.... yes we all have them!
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Don’t measure call times and don’t use sales scripts – be yourself
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Don’t hide your phone number – you WANT to talk to customers
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View customer complaints as an investment – not an expense
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Celebrate great service by telling exceptional stories to the entire company
Great pointers we can all use in our businesses... and if we do it well we might also get $1.2billion for ours?
Reference: “How I did it.. Zappos CEO on Going to Extremes for customers”
Steve Eastwood
Small Fish Business Coaching Melbourne
www.smallfish.com.au
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Happy Workers are Productive Workers
The notion that “happy workers are productive workers” seems obvious at first but was developed over 70 years ago in the 1930’s and 40s by researchers conducting the Hawthorne studies in Western Electrics. It was an interesting and revolutionary experiment at the time to determine if production in a factory changed under high or low light intensities or by using different light sources over work places.
They found was that production had very little to do with light type or intensity at all!!!– they concluded that all working teams improved production simply due to the motivational effect of the interest being shown in them. This became known as the “Hawthorne Effect”.
Based on those conclusions, managers worked to make their workers happy by improving working conditions and the environment in which they work.
The reverse may also be true... productive workers are more likely to be happy workers. Why? Well - productivity leads to job satisfaction. If staff do a good job they intrinsically feel good about it. This increased productivity is likely to lead to higher wages, increased recognition and possibility of promotion. These rewards in turn increase job satisfaction.
Creating a great working environment, with supportive working conditions and providing mentally challenging work will contribute to having happy workers. Studies show workers prefer physical surroundings that are not dangerous or uncomfortable. They also like working relatively close to home, in clean and relatively modern conditions with adequate tools and equipment to do a challenging job.
Business owners should take note because higher job satisfaction leads to a decrease in absenteeism and lower rates of staff turnover– great profit drivers in any business!!!
Steve Eastwood
Small Fish Business Coaching Melbourne
www.smallfish.com.au
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The Unlimited Opportunity That Exists Within Every Business
I once heard a great les
son on the “Meaning of Life” -Gross Margin –by Tim Atterton a Champion of Entrepreneurship and Small Business.
Tim has since updated his definition and calls it ‘the real income of any business’, which he says has powerful undertones. I’m sure you’ll agree with him. With his permission I am pleased to share it with you.....
You only need to know 3 lines in your Profit and Loss Statement....
Revenue (Sales)
Cost of Sales &
Gross Profit.
All other things are less important and here’s why...
Imagine your Profit and Loss Statement has a metaphorical dotted red line drawn below the Gross Margin.....
The potential to improve the profit below the red dotted line is mathematically limited to ZERO!! Try as hard as you want and eventually you’ll have no fixed costs and no business- its virtually impossible. You can’t ring the landlord and tell him you’re not paying the rent!!
On the other hand... the capacity to increase profit ABOVE the line in any business is mathematically UNLIMITED!!! This is where good small businesses focus their energy.
Tim says there are only 4 ways to do it:
• Resist the temptation to discount or cut your prices or give discounts – even if your competitors are doing it.
• Raise you prices a little and often –no need to put a banner out saying “price increase today” – keep it under the radar.
• Reduce your cost of sales
• Sell higher margin products and drop low margin products
All these initiatives will go straight to your bottom line and improve your Nett Profit. That’s what it’s all about!
Thanks Tim – I’ll never forget that great advice and it certainly helped me in my business.
Steve Eastwood
Small Fish Business Coaching Melbourne
www.smallfish.com.au
Kristian Reiss 30-Mar-2011 11:12 PM
Thanks a lot for this Steve, that really was a Pearl!
This is one of the best and simplest ways of describing why I have always focussed my energies on the top of the line - because the opportunity is unlimited.
- Kristian :)
