I last wrote about a crazy ex-staffer. Now a little lesson on what you want to see in leaders in your company from Mr Dave Ramsey:
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I was reminded by my operations manager of a rule I had implemented long ago and assumed was still in place but hadn’t been spoken about in awhile. That is the $100 rule.
The concept is simple. Any staff member has the authority to settle any problem, issue, challenge by spending up to $100 if needed to make the client happy or satisfy the job requirements. They don’t need to call a supervisor. They don’t need to do anything but pull their company issued debit card from their wallet/purse and take care of the problem.
Any time this has been done, it has resulted in saving us more than $100 (in extra wages, refunds, etc). It not only prevents many problems, but keeps management’s phone from ringing 20 times a day with problems that are easily fixed. It also makes staff feel empowered, because they are.
That’s it. That is the one hundred dollar rule. It sounds simple. but it can be transformational in how your business operates.
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P.S. Check out our new website and let me know what you think. It is a lot easier now to search and find past articles of interest to you by using the category search feature.
Hope you are kicking butt this week so far in your business. I wanted to share a little insight on something that comes up around the office here quite often. That is the concept of being a leader. If you are self-employed and want to have any chance of thriving, then you have to be a leader. That being said, you really need to hire and work with leaders as well.
You shouldn’t be a boss. You shouldn’t have “workers”. You need leaders.
Drive employees, inspire fear, blame, takes credit, commands, etc…
Coach, use goodwill, fixes breakdowns, gives credit, etc…
I am always looking to hire leaders. They don’t blame. When there are problems, they fix them without whining and without waiting for a pat on the back. The inspire others to not only follow but become leaders themselves.
I can tell you from personal experience that if you lack these leaders in your business, you will feel alone. You will feel like everyone else is stupid. You will want to give up. You will become more and more frustrated by the day.
You need leaders to surround yourself with and be among. You need support and team players. I am not sure if a leader can be created or must be hired, but you need to be working to find or create them. IT is vital to your success.
Best wishes for a great work week!
Profit 911 Consulting
Today an article I found from keithlee .com and wanted to share
WHO’S THE BOSS?
There is only one boss, and whether a person shines shoes for a living or heads up the biggest corporation in the world, the boss remains the same. IT’S THE CLIENT.
She is the person who pays everyone’s salary and who decides whether a business is going to succeed or fail. And she doesn’t care if a business has been around for 100 years. The minute it starts treating her badly or taking her for granted, she’ll put it out of business. The boss, THE CLIENT, has bought and will buy everything you have or will have. She’s bought all of your clothes, your home, your car, pays for your children’s education and your vacations. She pays all of your bills, and she pays in exact proportion to the way you treat her. The man who works inside a big office building or plant might think he works for the company that writes his paychecks, but he doesn’t.
He is working for the person who buys the product at the end of the line. In fact, THE CLIENT can fire everybody in the company from the president on down. And she can do it simply by spending her money somewhere else.
Some of the largest companies that had flourishing businesses a few years are no longer in existence. They couldn’t or didn’t satisfy THE CLIENT. They forgot who the boss really is.
Great lesson here that we all need reminded of.
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When you hear that phrase you may assume I am going to be talking about staff but today I am actually speaking in reference to your customers.
I had a potential consulting customer that wanted to purchase a product from me. I had given him a generous discount with a firm deadline and expiring link to buy yesterday. This morning I received a message asking for an extension because he was at a concert. My response… no.
You may ask why I would turn down the sale and the money and it is important to know that there are several reasons.
1. Integrity. When you say an offer is special and not normally available you better be telling the truth. Otherwise your customers will assume they can always get a deal on everything. They will know you are bluffing and can’t be trusted.
2. Missed Deadline. I am very explicit when I make an offer and when I make a deadline it needs to be followed. See above and below for the main reasons why.
3. Potential Future Problems. The person has already shown themselves unwilling to follow directions. In my world, that means they are likely to not follow directions in the consulting advice as well. That means they likely will get crappy results and probably blame my product and badmouth the training. It is not worth the money now for the slandering later.
4. Training Your Customer. You have to tell your customers how you do business, how to contact you, and what is acceptable behavior. If you don’t do this, then you will quickly have chaos. It may come in the form of missed deadlines, heavy negotiations, late night requests for help, etc. It is your own fault if you did not make your expectations clear.
Know what you want and why. Find people that fit into that to help you get there. Short term gain is never worth long term problems.
P.S. After reading this you should know that I am not lying when I say that this week is the last week to catch my free Black Friday training webinar. After that the training and the ability to buy the product goes away until 2016. The last day to view is Thursday. Register right now before it is too late at: http://events.profit911.biz/
Is it really all about the money? Is something missing in your business?
I need to share with you that from time to time over the past twenty years in business, every once in awhile we seem to just be missing something. It can rear its head and look like incompetent staff, high refund rates, customer complaints, and just a constant battle to stay afloat.
More often then not, it occurs when your staff has lost its way. When your employees are just there for a check. When going above and beyond is not in anyone’s job description. Sometimes it happens when we start to only chase the almighty dollar. Other times it is because leadership and example is lacking in upper or senior staff.
You need to be aware of your company soul (or sometimes culture fits too). It is hard to force something. It is hard to fix. It is learned or let happen naturally over time. Constant attention needs paid to it and effort put into shaping it. Employees need to serve a higher purpose than their paychecks.
Make sure you have not lost your way. Why did you get in this business in the first place? Do you still feel the same way now? What has changed? What needs to happen to get back to the old feelings?
Sometimes working with a business coach like me can help you find your way or figure out the root cause of a problem that you are blind to. I am here to help you if you need me. Please just reach out.
P.S. Often times the problem is due to staffing. If you are having trouble recruiting, hiring, training, or keeping staff then you need to register for my free webinar tomorrow http://events.profit911.biz/staff-webinar-reg/
In just under two hours I will be doing a LIVE webinar on how to Recruit, Hire, and Train staff in the Special Event Industry. It is vital to your growth, sanity, and profitability that you learn how to make additional money through staff members. While a single person operation can make good money, there is so much risk involved it is ridiculous. What is you are sick, injured, etc? Staff can work while you are having fun, out to eat at a restaurant, or even sleeping.
That being said, they don’t come without their fair amount of management challenges. Many of these can be stopped before they even start by following the right steps. This is just one of many things I will be discussing today at 1PM Central time on the webinar.
There is still time to register by going to: http://events.profit911.biz/
PS. We start in under 2 hours. Register now for free at: http://events.profit911.biz/
It’s twelve noon and you are loading for a $4,000 gig that is tonight. You reach over to put something in the truck and BOOM! It hits you… your back kills. You can’t stand up straight. What do you do?
This is exactly what just happened to my company’s COO Johnathan. He has a previous work injury that out of nowhere just stopped him in his tracks today. He was loading the vehicle for a $4k AV event at a major hotel tonight and hadn’t even got to the heaviest part (the staging). For many event companies, this would be an oh crap moment. It is Tuesday afternoon. Likely your friendly local competitors have a day job or other obligations and won’t be able to drop everything to help you.
Lucky for us, he was able to call down the staff list and get two staff members to come to his rescue. This is why I preach all the time about the importance of staff not only for growth but stability. You NEED help. You NEED a way to hire and train new staff efficiently.
I am going to host a live webinar on hiring and training a staff for the events industry next Thursday, September 3rd at 1PM central time. You can join me for free by going to: http://events.profit911.biz/staff-webinar-reg/
Your business tip today comes from learning from someone else’s worst nightmare. It was a little after four yesterday afternoon I got a text from a good friend that said “Anchor Lumber is burning down at this very moment. Crazy!” Well I had to see for myself so I headed down there a couple times and sure enough the building was pouring out smoke so thick you couldn’t even see all the fire trucks. You could smell it from half a mile away. Five fire departments responded with over 10 trucks.
The scene this morning when I drove by didn’t look very promising. Still one fire truck on-site, some heavy equipment moving rubble, and restoration companies boarding up what is still standing. Thankfully nobody was hurt.
The interesting part of this is that I called another friend who used to work there and asked him what he thought about the workers not having a job anymore. His response shocked me. He stated quite confidently that he bets that they will all have paid vacation until something is figured out.
Regardless of whether he is right or not, think about that. Can you business survive a catastrophe like this? Do you workers have so much confidence in the business that they wouldn’t be worried? You need to plan for the worst.
Here are a short list of things you need to have contingency plans for and that I will once again be looking over in my business.
Illness and hospitalization
…and of course a ton more.
I don’t want to scare you but you will sleep better at night knowing you have a plan.
Profit 911 Business Consulting