Are you comfortable losing $21,000 a year with your business? Of course not, but I ask the question to raise awareness about the important topic of high costs associated with employee turnover. The Society of Human Resource Management, the world’s largest association devoted to human resource management, reports this figure as the estimated cost of employee turnover when businesses lose three employees per year. The association estimates businesses lose an average of $7,000 every time an employee leaves the company.
Jackie Nagel, Synnovatia
Small Business Growth Strategy: What’s Your “Secret Recipe?”
Colonel Sanders has a “secret recipe” for his fried chicken. Outback Steakhouse developed a “secret ingredient” for their Bloomin’ Onion. McDonald’s applies a “special sauce” on their Big Mac. And, Duke is continually trying to disclose Bush’s Secret Family Recipe! What’s your business’ “secret recipe?” Pinpoint that and clients will flock to your business.
Every business – large and small – believes they identified what makes their business special and uniquely different from their competitors. Recent research tells a different story.
Accelerate Performance: Call a Small Business Time Out
Every good sports coach knows the importance of judgment when calling a “time out.” Applied at just the right moment, it creates strategic flashes that can turn the tide of any game, effectively interrupting the flow of the opposing team and disrupting their momentum. “Time outs” also re-focus resources and galvanize the energy to move forward more intelligently.
Calling a small business time out creates the same effect.
Confessions of a Strategic Business Coach
Recently, when working on a series of projects, I could tell I needed a break. There were “early warning signs” signaling prime poor performance and burnout was ahead.
I was holding my break. I was rushing through the project to check it off my list. Carrying on three different conversations in my head about what I’d rather be doing. I wanted to escape from the project. Does any of these sound familiar? (P.S. No client project was harmed in the doing of this project.)
What’s Your Small Business “App”titude?
Apps are popping up everywhere and changing the way business gets done. Non-existent just 5 years ago, apps are serious business tools that make it much easier for entrepreneurs and small business owners to run their business more effectively and efficiently.
When You Hate” Working On Weekends…”
“Hate” is such a strong word but it’s the one I use to describe my extreme dislike when faced with the notion of working on a weekend. And, I’m not alone! Few small business entrepreneurs look forward to passing their weekend with their head buried in their business. What’s wrong with this picture? (Cue the music!)
7 Points to Consider Before Scaling Your Small Business
It doesn’t take long before you realize that your business needs to accomplish more. But, when your resources are tapped at capacity, how does your business achieve more without adding additional assets like time and money. You scale! Without it, you’re merely an employee with overhead and stress…better and smarter but not necessarily richer.
Do You Need Time Theft Protection” for Your Small Business?”
Honestly, I don’t know where I first heard the phrase “time theft protection” but, like you, it made me chuckle. Yes! That’s what I need! I need something to protect my most precious of resources — time.
Undeniable Proof That Strategic Business Coaching Produces Results
I recently had the good fortune of celebrating the accomplishments of a former client. When Betty (not her real name due to confidentiality) and I first met she was overwhelmed, stressed, scattered, and didn’t know where to start to get her business back in control. As a single mom of a teenage boy, she didn’t have the luxury of taking time to put long-term strategies in place to grow her business. She needed to unravel the knots in her life and business, reduce her expenses, and generate more cash flow immediately. We started where we could have the greatest impact.