Coping with Failure

There are unlimited mantras, quotes, and stories dedicated to coping with failure. This is perhaps because it is a well-accepted fact that failure is simply a part of life. Starting and running a business is often subject to the same outcome. In fact, failure is often a welcomed disposition in the discourse of entrepreneurship because it helps to shape and reshape a successful business.  Failure should never be a deterrent from pursuing your business goals. Rather, it should be embraced and perhaps anticipated. In this article, we’ll explore coping with failure in business and using it as a sword rather than a shield.

 

Business failure can span anywhere from an unsuccessful marketing or promotional method to the complete termination. Regardless of what failure looks like in this particular context, it has an impact on the psyche of the self-employed individual who started or took over the business. 

According to Bruno, McQuarrie, and Torgrimson in an article published in Journal of Business Venturing, the self-employed appear to have an emotional relationship with their business.  More specifically, the motivation for managing one’s business spans beyond personal profit, into loyalty to a product, loyalty to a market and customers, and the need to prove one’s self. When you consider these elements of this emotional relationship, it becomes clear, first, why failure elicits such a huge response in business and second, why the way in which you recover is much more important than the failure itself.  So, how do you cope? How do you recover?

1. Learn

                       

One of the best ways to cope with failure in business is to make a conscious decision to learn from it. In a 2003 article published in Academy of Management Review, Dean Shepherd suggests, “learning from business failure occurs when you can use the information available about why the business failed to revise your existing knowledge of how to manage your own business effectively.”  This requires the ability to stare failure in the face and accept that you are still a student even when you run the business. It further requires an ability to “revise assumptions about the consequences” of previous decisions, actions, and omissions.  When you can approach your failure in an evaluative manner, you are more likely to have a successful outcome.

2.  Anticipate and Rehearse

“Don’t make the same mistake twice”.  This warning cannot be echoed loud enough in business. When you’ve done something wrong or insufficient a first time it should prompt you to be more careful the second time around. In other words, you should anticipate an error; rehearse with that error in mind and control for it.  Many entrepreneurs have had to test and retest prototypes continuously to ensure it is failure proof.  Sometimes this means getting out of your comfort zone and being completely transparent.  The more you dissect your product or service piece by piece and ask yourself “how can this fail”, the closer you get towards a product or service you can proudly stand behind in success. This will not make you failure proof, but it can certainly minimize the outcome of same and teach you more about yourself as a business owner.

3.  Think Positively

One of the immediate responses to failure is negativity. A close second is doubt. These two devils can drive your business into hell if you allow them to manifest and percolate.  When you’ve come face to face with failure, take a few minutes to cry and scream if you have to. But once those minutes have expired, commend yourself for your effort, feed your mind with positive affirmations, and most importantly, saturate yourself with acceptance. Accept that the one thing that makes you most like any other business is your susceptibility to failure. Once you’ve acknowledged that, immediately begin rebuilding, modifying, or changing your direction.

4. Start Again

Some of the biggest companies that exist today have failed hundreds of times before getting their big breaks; Apple and Disney are prime examples. Failing just might be the answered prayer you didn’t know you need. It can challenge you into success. Don’t pressure yourself with deadlines if your product isn’t ready. Take your time with your craft. If you love it, you’ll be tender and starting over will only allow you to become more intimate with your business. Embrace a fresh start.

Failure is a part of life and that life doesn’t stop when you acquire a business. Instead, it becomes much greater. Consequently, your failures will increase, but so will your successes.

Staying Motivated as an Entrepreneur

Entrepreneurship is a liberating journey that highlights the emancipation of being an employee, but it is also work-heavy. And the natural accessories that come along with this position of leadership can quickly result in regret and remorse for choosing a path so heavily ridden with high levels of responsibility and stress. When discouraging moments do arise, how can a new business owner find enough strength to push through and see beyond the temporary circumstances? What keeps an entrepreneur motivated?

Track your progress

It is easy to point out all the things that are going wrong in your business. In those moments however, it is useful to remind yourself of  your accomplishments up to the point of your fatigue. This helps motivate entrepreneurs by identifying and categorizing attainable and realistic goals in comparison to goals that might take a little longer to accomplish and are better off as long-term ambitions.  Tracking your progress is not an exercise that should be reserved solely for moments of demotivation. Instead, implement this practice at the very start of your business and do weekly or monthly checks to see how far you’ve come and how much farther you have to go. This tangible tool will motivate you, on a regular basis, to work hard in order to see your business attain and surpass each level of success you envision for your company.

Reflect on the beginning

Why did you want to become an entrepreneur? Some individuals only have to recall a single experience whereby sitting at a cubicle at a dead-end job, with a boss who was not interested in accelerating the company while simultaneously suppressing the ideas of employees, posed a far greater challenge. Reflecting on previous experiences of “occupational prison” can jolt you back into your purpose and motivate you to keep going. Other individuals initially begin their entrepreneurial pursuit in the hopes that they can give their families better lives. If that was your starting point, talk to your loved ones and rediscover what their goals and aspirations are. Then, ask yourself if your contribution to their goals and dreams will be fulfilled working for yourself or working for someone else. The idea here is simple: when you reconnect with your origin stories, you can reconnect with the motivation that initially allowed you to start a business in the first place.

Join Networking groups

Mingling with likeminded people is perhaps one of the easiest ways to stay motivated as a business owner. Stepping away from your computer screen to listen and share ideas with others, sparks your own creativity and forces you to think about where your business is currently, and how you can make it better. Further, the sharing of similar experiences reassures you that a lack of motivation is a part of the discourse of entrepreneurship. Your peers have been through and may be going through the same things and you may benefit from their coping strategies. Socializing with a group of successful people who had the courage to stand alone and start a business can give you the mental push you need to move forward with confidence.

Make positive affirmations a part of everyday discourse

In business, you get out what you put in. Feed your mind with positive affirmations daily. It may sound silly, but it works. Some entrepreneurs have mantras that they recite on a daily basis. Others keep inspirational words in a frame on their desk as a screensaver on their computer. Whether you say these things out loud to yourself, write them down daily, or read them in silence, they are healthy for your mind and motivation. The more positive you are about your business, the less the negative shortcomings will affect you. They will occur, but their impact will motivate rather than discourage you.

If you’ve been feeling demotivated lately, try one or a combination of these methods and see how your behaviour changes. Share some of your motivation tactics below to encourage fellow readers.

Negotiate From a Position Of Strength

In business, as in life, your skills as a negotiator will occasionally be tested. By concentrating on five fundamentals in particular—preparation, factual agreement, rapport, active listening, and common interests—you can greatly improve your prospects for success.

A negotiation strategy can’t succeed in advance, but it can fail in advance.

There is arguably no more important component of a negotiation strategy than preparation.

Start by envisioning the negotiated outcome to which you aspire, and understand why it is desirable for you. Identify your must-haves. This will enable you to distinguish areas where you are willing to compromise, from areas where you are determined to stand firm.

Your preparations for a negotiation should include research into the other party and h/er interests. Try to identify the outcome the other party desires, and issues on which you think s/he may be willing to compromise.

Finally, it is important that you clarify the terms and process of a negotiation at the outset. Who will be present at the meetings? How long are the negotiations anticipated to last? What does the other party’s chain of command look like, and who will sign off on the final decision? Are there key dates upcoming, deadlines, or other technical details that need to be established?

Make sure the other party is willing to agree, in writing, to the terms of the negotiated outcome. You want to avoid a situation where the other party unilaterally re-opens negotiations that you thought had concluded.

Establish consensus on key facts.

Negotiations tend to be deliberate and can be mentally taxing, so it’s helpful to reach agreement on the facts, and thereby avoid unnecessary discord and delays.

Over the course of the negotiations, information may come to light that is new to you. Should this occur, make a note of it and try to verify it. Call for a pause in the negotiations if necessary. Don’t accept a consequential “fact” that you don’t know is true, or an interpretation of reality you can’t endorse.

Just as importantly, both parties to a negotiation must have realistic expectations—including an understanding of the conditions that each party faces.

If, for example, a manufacturing subcontractor cannot fill an order because h/er factory has sustained significant damage in an earthquake, a well-informed manager of the retail firm that placed the order won’t attribute the shortfall to the subcontractor’s incompetence or negligence. A shared understanding of facts on the ground, including risks and potential causes of delay, is often essential to maintaining positive professional relationships.

Build rapport.

This involves getting to know one another personally, ensuring that all parties are on the same page, and managing or de-escalating conflicts. Rapport has verbal and non-verbal components; body language plays a central role.

Progress in negotiations tends to be especially difficult when there is hostility between the parties. Small talk can help to break the ice, but in some cases, this approach simply won’t be adequate. Some basic conflict management techniques can help you move forward in negotiations, even if you aren’t particularly fond of your counterpart.

•  Avoid making provocative statements that may cause your counterpart to shut down or become defensive.

•  If your counterpart makes such a provocative statement, express your lack of appreciation therefor, but suppress the temptation to retaliate in kind.

•  Maintain non-threatening physical posture and body language. Speak calmly and slowly, and de-personalize the source of conflict—for example, “This situation makes me uncomfortable.” rather than “You are making me uncomfortable.”

•  If necessary, take a break, and return to the topic of contention once you and your counterpart have both had an opportunity to regain composure.

Listen actively.

Active, attentive listening enables you to ascertain your counterpart’s wants, needs, goals, and any other relevant information s/he may have to offer. It also allows you to hold h/er accountable for any changes in h/er position that you haven’t acknowledged or agreed to. Your priority in negotiations should not be to catch your counterpart off-guard, to exert control, or even to “win”. Rather, your main aim should be to safeguard your own interests with an approach that emphasizes listening, critical thinking, and strategic dialogue.

Seek out common interests.

Ultimately, the goal of all parties to a negotiation is the same: to obtain something they desire, while sacrificing as little as possible. Because desirability is partly subjective, successful negotiations among equal partners can often result in a “win-win”.

A sure way to achieve real, substantive progress in a negotiation is by focusing on shared interests and ambitions. Once you know where your common interests lie, you will find it easier to iron out the details of any compromises that may be necessary.

The Keys to Effective Internal Communication

Take a moment to browse online job postings, and you will see the same item listed recurrently under “Qualifications”: namely, effective communication skills. As important as this capacity is for

prospective employees, it is even more vital for businesses of every size. This obtains both for interactions with external stakeholders, and within an organization. No team, regardless of the talent and expertise of its personnel, can expect to achieve its potential unless information transfers seamlessly and comprehensibly among its members.

Although many of the requirements of functional internal communication are common sense, you may find the following guidelines useful:

•  Invoke the KISS principle.

 

When you initiate communication, take a moment to consider whether the information you intend to convey is presented in the simplest, most concise, most unambiguous form possible. Is there any room for misunderstanding or misinterpretation? “Keep it simple and specific” is a useful guideline here. Concision is also advantageous in most situations.

•  Accuracy is indispensable.

Double-check e-mails and other documents before you distribute them. If you have doubts about any aspect of the material, seek confirmation either by doing research on your own, or by consulting a colleague. Accuracy is paramount for effectiveness in communication, for two reasons: first, because inaccuracy can compound into missteps and delays that cost time and money; and second, because repeated errors on your part may erode the trust that others place in you. It is generally worthwhile to take a bit of time to ensure accuracy now, rather than spend a lot of time trying to correct mistakes (and repair any damage to your reputation) later.

•  Maintain records of important instructions and agreements. Communicate in both verbal and written form.

Even if you’re confident that you understand what you’ve been told, or believe you’ve made yourself perfectly clear, it is important to make use of documentation rather than simply rely on memory. If, as an employer, you have to convey complex instructions to an employee that involve multiple steps, write them down in clear, succinct language. (Recall the “KISS” principle.) The same advice applies to employees who need to communicate information up the chain of command.

•  Keep communications relevant to the recipient.

The human brain has a remarkable capacity to “zone out”, discounting intelligence it deems irrelevant. This is an adaptive evolutionary trait; for our distant ancestors, the ability to identify crucial facts, and save mental energy by omitting unimportant or superfluous ones, was a prerequisite for survival. However, in our modern civilization, this immanent skill can occasionally backfire; by skimming a lengthy document in order to save time, for instance, we risk overlooking information that is relevant to us.

One of the ways for managers to avoid this pitfall is by tailoring communications to each recipient, with specific details or instructions. This practice also sends a tacit signal that employers acknowledge and appreciate the unique contribution of every individual.

•  Who reports to whom?

All staff should know exactly to whom they are accountable, and for whom they are responsible. As the scale of a company or organization increases, this factor becomes all the more necessary. It is axiomatic that communication should occur through the proper channels, but what are the proper channels? Aim to ensure that everyone who works in your business can answer that question without a moment’s doubt or hesitation.

•  Details matter. But never lose sight of the big picture.

Every business should have a mission statement, which is not only clear and accessible, but understood by all staff at the organization. Once every member of a team buys into a common goal, you will have laid the groundwork for collective success.

Part-Time Entrepreneurship

If you’re not ready to take the leap and quit your current job to run your own business full-time, you can still enjoy entrepreneurship on a part-time basis while maintaining the security of being an employee with an income. But, to do this, you need to keep the following points in mind:

Say Goodbye to Personal Time

Having a full-time job and a part-time business leaves very little time for yourself. You’ll need to make sure you can handle putting most of your time an effort into work and this will mean you’ll probably have to skip out on vacations or even spending a relaxing weekend with friends and family! But that doesn’t mean you’re cut off from the rest of the world – just plan your down time wisely. But there’s always an upside. Get your friends and family involved in the business by giving them tasks based on their skills. This gives you the benefit of “free” help for your business while spending time with those you love.

Don’t Let it Interfere With Other Responsibilities

It’s important to keep your two jobs separate and not let them overlap too much. Don’t risk losing your current job by working on your side project during work hours. Try to keep your mind on the job at hand and leave your business to off-hours. This may mean that phone calls and emails have to go unanswered until after 5. Keep yourself disciplined by scheduling blocks of time to complete your own business tasks in the off-hours to keep your mind on your job when you’re at work.

Use Technology Wisely

There are so many websites out there to make life easier for the small business owner. Whether it be setting up e-commerce on Etsy or Shopify, building a custom website through SquareSpace, or getting payment processing on Square, all of this can be done on your own for a lot less than it would cost to hire a professional. Do some research online to find software to help you manage your business. It may take a bit more time to set up, but it will save you money in the long run and will be much easier to maintain over time.

Be Patient!

Anything part-time is going to take a little longer. But be patient – it won’t always be part-time! Count yourself lucky to have a source of income as you work towards your goal of being a full-time entrepreneur and use this goal as a motivator to work hard during your spare time to achieve your goals. The harder you work in the early stages, the better the pay off will be in the end! 

How to Manage Complex Projects Easily

Not every business project for your company is going to be a "walk in the park."

There is going to come a time when you need to tackle a complex project. Whether that involves shipping and selling in multiple countries or starting up an assembly line to build a product in volume, you'll be dealing with many issues involving several departments.

However, don’t despair as there is a way to manage complex projects easily. Here's how:

Step 1: Set Your Goals

What is the goal of this complex project? The answer to that question could be something as simple as "build a new website" or "increase traffic to existing website." Within that goal should be some tangible items like due dates, sale expectations and/or specific benchmark numbers. Once you've established clear objectives then you know what you're heading towards. The challenge is not to deviate from that path no matter how "big" things may become.

Step 2: Keep the Lines of Communication Open

Once you've shared your goals with the team you should open the floor for discussion. Here is where you'll learn if and when your goals are actually obtainable. There is nothing wrong with pushing your staff to do their best but that doesn't mean becoming unrealistic. Although it's a great goal to earn a million dollars by Friday, it might not be practical. This is the time to brainstorm out idea to help move things along. If your staff knows they can share concerns and ideas then your project will only be strengthened.

Step 3: Set a Budget

What is this project going to cost? That's an extremely important factor to consider. You should have a budget set for the project that everyone can fall in line with. Don't hesitate to pad that budget with a contingency fund "just in case."

Step 4: Set an Action Plan

You already have an overall business plan for your company. Now drill down and apply those same principles to this new project. The project plan should be worked out enough that you could hand it off to anyone in your company and they would be able to follow it without asking questions.

Step 5: Encourage Out of the Box Thinking

Sometimes a project becomes complex because we don't know any other way to do things. When you get stuck on implementing a specific item it might be time to step out of the proverbial box for some original thinking. This type of creative problem solving has been a huge asset to many businesses.

Step 6: Set Up Tests

No matter what you're working on, you can't go from "start" to "finish" without testing the end result. For instance, if you're building a new website with an ecommerce component then you should definitely build in a testing phase to work out all the kinks in the system. Only then can you call a project truly ready to launch.

Keeping Your Startup Passion Alive

Do you hate getting out of bed for work each day?

We've all been there.

But what if that job you're dreading is one of your own creation? You might have started your own business with plenty of passion but that doesn't mean that passion can't diminish especially when all the "headaches" of running a business rear up.

Here's how to continue to keep your passion alive for your startup:

Don't settle for failure.

Just because you've "lost that loving feeling" for your business doesn't mean you can't get it back. Failure is not an option. That should become your new mantra. Simply put, the work needs to go on because you've invested so much in building up your company already. If you're on your own, then take a day off doing something you love to reinvigorate yourself. If you've got a staff then it's even more important for you to "snap out of it!" Those folks are depending on your leadership. Don't let them or yourself down.

Ask for help.  

In the business world and in life we could all benefit from an objective perspective. A business coach or a mentor would be a sensible investment to help you get back on track and fire up your passion. This is someone who can hold you accountable with regard to your goals. They'll also be able to provide motivation and the necessary "kick in the pants" when needed.  Setting up a weekly phone call can get you back on track.

Reaffirm your goals.

Do you remember why you started your business in the first place? Was it to retire at the age of 40 with a million dollars in the bank? Was it to have a company you can share with your family? Was it simply to be your own boss? Whatever those initial reasons were for your startup you need to get back in touch with them. Maybe a properly placed photo to remind you of what you're fighting for will do the trick. Even the greatest ideas for a business will meet with obstacles. When you commit yourself to your goals then jumping over those obstacles shouldn't be a burden.

Reset your priorities.

It's amazing what a simple to-do list can do for resetting your priorities. Write out all the things that need to be accomplished around your business. Then set a specific deadline for the completion of those items. As you move down the list and accomplish the tasks, scratch them off the list and celebrate. This will help you focus on your business and, in a roundabout way, reignite your passion.  

Your Entrepreneurial Dream - Don't Let Anyone Steal It

From the very moment you had your first job, you’ve probably began the dream most common among workers: how to be your own boss?

Actually, that’s the 2^nd most common dream; the first would be to win a jackpot lottery prize and retire!

But the dream of being your own boss isn’t as farfetched as you would think. If you have an entrepreneurial dream then what’s holding you back from taking it to the next level? Maybe you once had a great idea for a business that you see developed later on by a complete stranger into a successful entity.

That only means your ideas are worth pursuing. Don’t let another entrepreneurial dream slip by.

Consider these insightful tips to help make your dream of being your own boss come true.

1.      Define Your Goal and Vision

Saying you want to be your own boss is a good motivating factor but how are you going to get there? You need to define your goal in terms of a business plan. Suppose the company you’re working for now is an area you excel at. Could you start your own version of that company? That’s usually how many small businesses begin as off-shoots from former employers in the same field.

2.      Keep It Real

The key is to pick a specific goal that you can follow. To say, “I want to make a million dollars profit in my first year,” is not realistic no matter what the business. There is nothing wrong with having lofty ambitions but you have to be practical about the direction your want to follow on your entrepreneurial journey. You might want to own your own restaurant but perhaps it makes better sense to start a small diner and build a clientele. Less overhead and more room for “learning curves.”

3.      Learn the Ropes

If you’re planning to start a business that you’re already familiar with then you should have a solid foundation of how that business works. However, that doesn’t mean you know everything about running that business. You might be adept at sales but how are you at bookkeeping or payroll or property leases? Those are all areas you’ll have to become familiar with as your business expands. To accomplish that it might make sense to learn the ropes either through college courses or working with a mentor.

4.      Take the Leap

Sooner or later all of your dreaming has got to come down to earth, so to speak. This means you have to actually begin to implement your plans. If you have a well thought out business plan then you’ll be using that as a kind of road map for this journey. There will be bumps along the way but at least you’ll be headed in the right direction.

Starting your business means you’ll have to be decisive in your business decisions. That’s what being a boss is all about. No more sitting on the sidelines; it’s time to get in the game!

Ten Leadership Skills Every Entrepreneur Must Have

Being the boss means you’re the leader of your company. On many levels, the success or failure of your new startup will depend on your leadership skills. If you’ve started a business then it’s a safe bet you have some level of leadership abilities to tap into, but there is always room for improvement.

Consider these top 10 leadership skills that all business leaders must have to be successful in their businesses.

1.      Strong Mission Statement: Why did you start this business? It can’t just be about making money for yourself. Your mission statement defines the purpose of your company and will help inform every decision you and your team will make.

 

2.      Strong Vision: Unlike the specifics of the mission statement, the vision for your business paints the big picture. It tells your employees where you want to take your business and how your staff members can support you.

 

3.      Tangible Goals: As a leader you need to set the “bar” for your staff. You can do this by establishing goals foryour business. Whether its daily, weekly, monthly or quarterly sales figures, there should be a target to shoot for. You might have to adjust these goals to meet the practicalities of your business but without them you could find your company floundering without purpose.

 

4.      Strong Team: The major responsibility of a team leader is to actually pick that team. You need to strike a balance between the prospective employees resume, their interview and your own instincts to build that cohesive team. Just know that a good leader also knows when to make changes. If an employee isn’t working out, it’s better to sever the ties and move on than dwell on a mistake.

 

5.      Know-how: You need to present an image of competency to your employees, investors and customer base. This doesn’t mean you need a PhD in the particular business you are setting up, but all of those folks will be turning to you for answers. If you don’t have an immediate answer, don’t fake it. Take the time to get it right.

 

6.      Solid Communication: Building on the well written mission statement, vision and goals you need to keep those linesof communication open. Don’t just say, “My door is always open.” Seek out your staff to get their input. Challenge them to come up with solutions or new ideas by fostering a productive and open channel of communication. Be the model of how you want your employees to communicate with each other.

 

7.      Relate To Your Staff: This doesn’t mean becoming everybody’s friend. Although it might evolve to that you need to keep the boundary lines well drawn. However, that doesn’t mean you can’t find ways to relate to your staff and visa versa. The perfect example is with any company function that can involve families. The great “equalizer” among any group of people are the common bonds shared by families.

 

8.      Positive Attitude: “There are no problems; only solutions.” Projecting a positive attitude is infectious. Your staff will be looking for you to set the tone. Make it a positive one.

 

9.      Provide Inspiration: Providing inspiration isn’t just about coming in early and leaving late. A leader will often remind his team what they are “fighting for.” That type of affirmation can help drive up productivity in any company.

 

10.  Roll Up Your Sleeves: Every once in awhile you should step out from behind your desk and get into the trenches with your staff. Let them see you’re working as hard as they are and you’ll build extremely high levels of loyalty.

Strengthen Your Business Leadership Team

It doesn’t matter what type of business you’re in, strong leadership is essential to determine success. If you’re fortunate enough to have a great team working with you on your business goals then providing the model for leadership will become your responsibility. There are many effective “tools” you can use to strengthen the bond between the team and encourage your employees to step up as leaders. Consider the following:

Give credit where credit is due

Everyone loves praise! Don’t hesitate to tell others that they are doing a good job and you should acknowledge your team’s efforts when appropriate. But you should also be fostering an atmosphere of contribution from other staff members, those who are in the background and who might not yet be a “star.” When you encourage the free flow of ideas then you might discover a hidden gem among your leadership team.

Support the families

If your team members have family obligations, you should honor those by offering support. Is it really going to hurt business by letting a dad go watch his son’s soccer game or letting a mom attend a parent/teacher conference? Probably not. However, when you support the importance of your staff’s family then you’re acknowledging why they’re all working on the same team: to provide for that family. That is going to promote stronger loyalty and leadership.

Delegate responsibilities

As the saying goes, “Some men are born to greatness and others have greatness thrust upon them.” Translation: a leader can be born or made. You won’t have a chance to help your team strengthen their leadership skills unless you provide them with the opportunity to put them to the test. A strong leader often leads from behind and allows their staff to take charge.

Mentor

You might have a handful of strong leaders already working on your team. If so, then encourage them to seek out protégés they can mentor. Leadership skills work best when they are shared. Think of this is an on the job leadership training program, just a less formal one.

Formal leadership training

Speaking of leadership training, you could solicit outside help to strengthen your leadership team. That help can come in the form of qualified leadership trainers. These trainers will assess the needs of your company and set up a series of workshops and training exercises for your staff to participate in. This could mean a weekend retreat or a day lone seminar. In either case, you might be amazed at what can be revealed when your staff is taken out of their “comfort zone” and challenged to expand their own leadership qualities.

Use incentives

You might think that a weekly pay check for a job well done is enough incentive. In today’s tough job market that might be true. However, you shouldn’t discount offering some form of incentives for your staff if they can meet certain goals. Even something as simple as a paid company lunch away from the office can get employees fired up and working stronger as a team. When that happens, leaders will rise to the top and you’ll be able to cultivate them for future assignments.