5 Reasons Why You Should Be Networking

Many business professionals, educational institutions and other agents of commerce continually stress the importance of networking. This is quite possibly because they foresee, witness, and experience the tremendous benefits that derive from opportunities of connection. Networking is like a good pair of shoes that never goes out of style. Whether you’re just stepping into the field of entrepreneurship or you have been running your business for a long while, it is still the perfect fit that will get you to that next step.  No matter where you are on the spectrum of entrepreneurship and business ownership, you have something to gain from connecting with likeminded individuals. Below are our five reasons why you should be networking. Take advantage of them.

Information

           

Networking is an outlet for information. People attend to both talk and listen. We suggest that while it is imperative that you speak and promote your business in these kind of forums, it is fundamental that you use networking opportunities to soak up as much information as you possibly can. Listen for what’s working in your industry and what pitches and approaches have been unsuccessful. What are the current trends? Which individuals should you be speaking with? What more can you learn? Who is your competition? How can you stand out? There is no limit to the information you can gather at a networking event. At the very least, it is a soundboard to reassure you of your progress, setbacks or need for a little positive and negative information is useful to a growing business.

Increase business/referrals

As a business owner, it is your job to promote your company and increase your clientele. Networking events facilitate this in a way that is less formal and stuffy.  There’s no Powerpoint presentation, no folders, and no necessary major pitch. You simply speak about your business and hand out your business cards. It is your key opportunity to be as real as possible without feeling the pressure of having to book a client. You go at your own pace, choose the people you want to talk to, and keep the conversations lighthearted.  Entrepreneurs tend to excel at networking due to the natural flow of the conversations. Additionally, you can be more creative in your approach to draw people to you. For example, wear a statement piece (jewelry, shoes, etc.) that is guaranteed to strike up a conversation. Although most networking events are less pressure-filled, it is crucial however, to maintain an objective standard of professionalism as you are still representing your company.

 Making connections

Let’s face it; every business needs resources to contribute to the growth and acceleration of business. Networking provides such opportunities. You are exposed to different individuals who are experts in subjects that you are less familiar with. They may also have capital that your business may benefit from or perhaps you’ve heard they invest in certain kinds of businesses. Your attendance significantly increases your connection potential. Use that opportunity to build and grow.  Once you have exposed your business to likeminded individuals who believe in your company and your vision, it can secure a connection that may transform your business for the better.

Tackle unanswered questions

Networking is your “Q and A” forum. If you’re feeling uncertain about your business or perhaps your next step, use networking to share ideas, receive feedback, and alleviate your uncertainty. Additionally, speak specifically with individuals who know more that you and pick their brain.

           

Building your profile and confidence

Finally, networking is your runway. It is where you strut your stuff so that your colleagues can put a face to your name and you can build your profile. It is always where you go to gain your confidence. Most of the people you are intimidated by are just like you.  Find comfort in that. Believe in your ability, believe in your business and be confident.  

The “Money Problem”

There aren’t many scenarios in which people are repulsed by money…except of course, in the world of business. As a new business owner, conversations about money can be intimidating, uncomfortable and condescending. In a discourse where the exchange of service for currency is inevitable, it’s hard to conceptualize such a fear, but most business owners are able to recount instances where having to pick up the phone and discuss payment was a nerve-wracking as pulling teeth.  

There are three primary factors that are attributable to the money problem:

·         Value - Entrepreneurs struggle to accurately assert a price that is complimentary to the value of the service they offer. In some instances business owners quote clients/customers fees that are much lower than the product value because they fear that the consumer will not recognize the worth; the opposite is also true.  Pricing comes with a warranted level of sensitivity because quite often it dictates how well a business will perform in the respective market.  Consequently, talking about it can result in gaining clients or losing clients and some entrepreneurs are not willing to take that risk.

·         Cultural taboo - Cultures discourage discussions about money. Unfortunately, some entrepreneurs allow that inter-generational value to seep into the discourse of business. Where it is unacceptable to talk about money in the familiar institution, it is equally disrespectful in a financial one.  The symptoms of this cultural taboo are evident in scenarios where business owners are complacent in obtaining late fees, outstanding balances, and unpaid debts. Instead, they carry on quietly and accept the loss, notwithstanding instances where the obtainable amount is not of “significant” value.

·         Social Psychology, “A need to be right, and a need to be liked” - This explanation is quite simple: business owners and people in general, want to be liked and want to be right. When a conversation of money begins to occur, the rigidity of these two qualities is threatened. Consequently, a client may refuse business on such premise.

Talking about money can be uncomfortable, but it is necessary. The following strategies have been effective in relieving conversational tension on this hot topic.

·         Market Comparisons - Compare your prices to your competitors’ prices. Although this may require a little bit of research, the effort is worth the outcome. Pinpoint noticeable financial trends and assess your business on a similar spectrum. If there are businesses that price their services above average fees, evaluate their company to see why. Some businesses may offer additional services, have more qualified professionals, or may have simply capitalized on effective branding.  When you refer to your prices, quoting some of the prices of your competitors will reassure your client that they are not being lowballed. If your business is above average, make the same comparisons, but emphasize what you are offering that warrants a departure from the status quo.

·         Managing Your Motive - Why are you talking about money? How important is the conversation you’re about to engage in? These two questions are fundamental in shaping your thinking about money in business. If both responses yield a matter of urgency and your business will suffer if the matter is not addressed, it is imperative to have the conversation. On the other hand, if your sole motive is to get more money without providing a service that matches same, you’re better off not mentioning it.

·         Formal Non-verbal Communication - Talking on the phone or over a meal in a meeting may work for some business professionals, but it is not ideal for everyone.  Send an email outlining the details of pricing and be clear and direct. Not only does this alleviate some of the burden, but it also functions as binding documentation of exchange between you and the client. Further, emails accommodate, what are otherwise, high-intensity negotiations.

      

      In closing, the infamous expression, “money talks” is misleading, because money cannot talk until someone else does. And the reality is: if you cannot get rid of the money problem, it may result in a “non-existing business” problem. 

Mental Health in The Workplace

Given the frequently serious consequences of mental health problems for individuals and their loved ones, there is a strong moral case for businesses to prioritize mental health in the workplace. Moreover, a growing body of studies and polling data suggests there’s an equally strong economic case for taking mental health seriously.

A Gallup poll from 2013 found that absenteeism due to depression alone costs U.S. employers approximately $23 billion per year in lost productivity. Add to this missed work days because of stress-related illnesses, addiction, and other common mental health disorders that afflict millions of people in our society, and the expenses can mount quickly.

Aside from reducing productivity losses and employee turnover, an effective approach to mental health in the workplace can raise workforce morale, and improve relations among employees and managers.

A work environment conducive to good mental health

A manager’s first priority should be to foster a salubrious work environment, and encourage sound habits and practices in general.

•  Keep stock of the essentials, like workplace safety, clean air, good hygiene and organization, proper equipment and training for all employees. Ensure that everyone knows and understands h/er own role and assigned tasks.

•  Promote mental health literacy in the workplace. Consider supplementing your organization’s current training regimen with expert seminars that address warning signs of mental health problems, stigma and unwarranted feelings of shame or embarrassment around mental illness, popular misconceptions about the mentally ill, and common but inaccurate descriptions of mental illness.

•  Involve staff members in decision-making. Ideally, they should feel that their point of view and individual agency are respected, as opposed to feeling like cogs in a machine who robotically follow orders.

•  Promote work-life balance by enabling staff to share the workload, and providing adequate vacation, sick leave, and family-related leave.

•  Insist on respectful behaviour and inclusiveness at every level of your organization.

•  Provide opportunities for skills acquisition and advancement.

•  Recognize and express gratitude for good work at all levels, and acknowledge individual employees’ contributions to the overall success of the enterprise.

•  Provide employee feedback mechanisms, and have an appropriate conflict resolution strategy.

•  Encourage openness, honesty, and respectful discourse around mental illness, emphasizing the notion that mental health challenges are nothing to be ashamed of. (This is especially important, since concealed mental health problems can undermine an employee’s performance and overall health.)

•  Remember that people with mental health challenges may be taking psychoactive medication as part of a treatment program, and/or attending regular therapy sessions. These obligations may preclude them from putting in long hours at work, or limit their flexibility in terms of shift-scheduling.

Aspects of the physical environment can also help to promote good mental health. For example, studies indicate that the presence of green plants in an office environment can help reduce negative emotions like stress, anger, and fatigue, while promoting focus, productivity, and job satisfaction. Nowadays, a growing number of office environments offer recreation spaces to help employees regain their focus, and some even have dedicated nap rooms!

Accommodating mental illness

Just as with physical disabilities and chronic conditions, reasonable accommodations can often be made for employees with mental health challenges, helping them perform to their full potential at work. The first and most crucial step is to overcome the stigma that our society has historically attached to mental illness, so that staff members who face mental health difficulties can freely articulate their needs.

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.

Website Translation Advice

There’s a lot of truth the to statement that we live in a global village. Technologies like the internet, social media, large-scale shipping, and commercial airliners have dramatically reduced the effective distance between countries and continents—facilitating communication, trade, and travel to an unprecedented degree. For businesses, this offers a world of opportunity to engage with prospective clients and customers all around the globe.

Nonetheless, entrepreneurs and businesses who hope to outfox their rivals need to ensure they’ve got the right tools in place. And one of the most crucial must-haves for enterprises looking to expand overseas is a website that offers comparable content and functionality in various languages.

Hire a professional translator and/or reputable translation firm.

If you’ve ever attempted to translate lengthy passages with Google Translate, you may have noticed that flaws tend to crop up in the English version. There are many reasons for this: certain idioms don’t work well in English, cultural concepts expressed in other languages are difficult to convey in English, the software fails to correctly distinguish one homonym from another or misinterprets the context of the sentence, etc.

Assuming you want the content of your business website to convey a comparable level of meaning and impact in multiple languages—including some that you don’t happen to speak at an advanced level—you should strongly consider hiring reputable, professional translators to assist you.

Before choosing a translation firm, do some research and try to find testimonials from past clients. Seek firms that either specialize in or have native proficiency in your target language. Ideally, the translators you hire will also possess specific cultural expertise, and have the ability to operate on a 24-hour cycle for time-sensitive assignments.

An anecdote: I have a friend who works at an organization that opted to switch from the translation company it had traditionally worked with, to an outfit that offered a lower price for (ostensibly) the same work. As a native speaker of the target language, my friend noticed that the lower-priced enterprise’s content was replete with mistranslations and other errors. Unfortunately, by that time it was too late; my friend’s organization had already ordered thousands of copies of their newly translated brochures. Although the errors were eventually corrected (with my friend’s help), her organization ended up wasting significant amounts of money, time, and paper.

The moral of the story is, be vigilant, and make sure you’re not sacrificing quality at the altar of a seemingly attractive price.

Cultural appropriateness.

There’s more to effective translation than simply altering the words on your web page. Depending on the scale and importance of the target market, you’ll also want to consider ways to make your website’s content culturally relevant and appropriate for your new customers.

If certain imagery doesn’t work, messages in your original content are culturally specific and don’t transfer well to other countries, or for any reason your English-language material doesn’t address the needs and priorities of your target market, then the translation firm should be able to alert you to the problem and offer a viable solution.

As your dealings with international markets become more sophisticated, you may also want to select stock photos and symbols that are likelier to resonate with customers overseas. Furthermore, customers may feel more comfortable with your brand if they see a resemblance to themselves in some of the people whose likenesses appear on your website.

Watch out for possible issues with site architecture and navigation.

As you translate from one language to several others, you will inevitably find that the same content in different languages will occupy different amounts of physical space on the website. This can introduce problems with the layout of the pages, and the ability of visitors to navigate smoothly and efficiently.

This is one of several reasons why it’s important to run reasonably thorough quality assurance tests before you launch new content on a foreign-language version of your website.

Technical glitches are a fact of modern life, and problems will almost certainly arise with any major online translation project. But if you succeed at making inroads into lucrative foreign markets, you’ll be rewarded for your patience and perseverance.

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.

The Pros and Cons of Friendships at Work

Employers who aim to improve the loyalty, efficiency, and engagement of their workforce would do well to focus on employee morale. And one of the surest ways to improve morale is to encourage camaraderie/friendship in the workplace.

When employees care about each other, they are more likely to become invested in each others’ success, communicate readily and openly, and cooperate on major projects in a way that capitalizes on their comparative advantages. (For example, “You’re better at writing, and I’m more conversational. So I’ll field phone calls while you take care of e-mails.”) Workers who have developed friendships on the job are also more likely to remain with the company, even if the work itself becomes less appealing. Finally, a reputation for camaraderie and positive employee morale may also enhance your company’s prospects for recruiting top talent.

With all of that in mind, here are some ways to encourage camaraderie in the workplace:

•  Participation in community service/volunteer events. Set aside some time for employees to volunteer for a charity or non-profit organization, and allow them to choose the organization. Or you could sponsor and take part in a public event on behalf of worthy cause, like the local Terry Fox Run, or a Pride parade.

•  Team-building exercises. Though they may seem clichéd, team-building exercises can be effective in helping employees develop a “we’re in this together” mentality. Well known examples include the mine field (leading a blindfolded person through an obstacle course) and the trust lean (catching a person as s/he falls backward). Some companies have even tried sheep-herding and scavenger hunts. In any event, remember that the purpose of the activity is to foster trust and a willingness to cooperate within the group, rather than competition between individuals. Choose accordingly.

•  Empathize. Make an effort to be consistently respectful, amicable, and professional toward employees, colleagues, and clients. Practice empathy and compassion. Take the needs and concerns of your employees seriously, and take individual preferences, personality types, and working styles into account in your personnel decisions. With respect to the type of workplace atmosphere you hope to instill, be proactive and set an example.

•  Keep an eye out for potential conflicts. It is axiomatic that some people simply don’t get along well with each other. Watch out for personality conflicts that you sense may become problematic, and trust your instincts. Where possible, try to match or group people you believe will work well together. If you find that one individual in particular doesn’t seem to collaborate effectively with anyone, you may need to take that person aside to address a specific issue, or even consider letting her go.

The downsides

As the title of this post suggests, the effects of camaraderie in a professional setting are not all rosy. Possible disadvantages include ruptured friendships if one friend departs and the other remains, and more time spent socializing (which may detract from productivity). In certain cases, friendships at work can lead to the formation of cliques and even divided loyalties—consequences that you’ll need to watch out for. As a manager or business owner, you’ll also need to remain cognizant of the line between friendliness toward your employees and friendship with them. While it’s possible to be friendly toward someone while maintaining an air of professionalism, it can be very difficult to reconcile the obligations of management with the responsibilities and commitments of friendship.

In most cases, though, the positive effects of workplace camaraderie far outweigh these potential difficulties, and the challenge of maintaining an affable but professional workplace atmosphere is manageable.

Establishing Success in 10 Seconds

It’s an old cliché that you only get one chance to make a first impression, but unlike with the opposite sex, if practice made perfect it means that all that time spent practicing amounts to dollars left on the table just trying to get it right. You can read over the volumes of thick tomes dedicated to unraveling the mystery as to what to say to make the perfect first impression, or simply be aware of the fact that a first impression of you is made even before you open your mouth – the implications this has for business are unfathomable.

A couple of compelling theories to consider

In a study out of Harvard, published in Psychological Bulletin in 1992 by Ambady & Rosenthal, it was found that there is strong evidence supporting peoples’ ability to quickly and accurately judge others. So when people tell you that they are “excellent judges of character”, statistically they are, if unwittingly, telling the truth. What Ambady & Rosenthal concluded was that you could know someone for a few seconds, or for a year, and your impression of them would be the same.

In a much less scientifically controlled environment, Art of Charm founder Jordan Harbinger explained on the Bulletproof Executive’s podcast recently, in the context of men seeking women at a night club, that a group of women will develop an impression of a man the moment he walks into the club – or as he charmingly puts it, “the moment he appears on their radar” – and not when he musters the courage to approach them.

What do these examples mean for business?

Haven’t put it together yet?

For years, a lot of emphasis has been put on the importance of, and how much you can know about someone, from their having a firm handshake. Well the truth is just about everything in business, from networking, to the job interview, to landing a major deal relies heavily on everything you do before you even shake on anything.

It was often said that a firm handshake projected confidence and self-assuredness - traits that bosses and CEOs looked for in those they wanted working for them or wanted to make deals with - but the truth is the level of your confidence has been established by others not when you first shake, but when they first lay eyes on you. That means that a job, a contract, or a major deal is signed off on courtesy of communication that is non-verbal; communication that is not interactive, or even intentional.

Networking and unlocking the secrets of non-verbal communication

As superficial as it may seem, success anywhere happens in about 10 seconds and comes down to a few exterior traits. So no matter how lovable you may be, or how brilliant your ideas are, it’s essential to at least master a few surface qualities so that these deeper traits have a chance to see the light of day.

In much the same way that a handshake was once regarded as the way to communicate confidence and self-assuredness, people like Ambady, Rosenthal, and Harbinger are now proving that what you wear, how you enter a room, and how you walk and carry yourself have the ability to project the same thing. Neglecting these facts could be the difference between a payday and planning on not making the same mistake next time.

Ten seconds. That’s all it takes. So don’t wait to work up the courage to connect because statistics show that the longer you wait the more your opportunity to make a perfect first impression slips away. Establishing contact the moment you appear on someone’s radar is just another way to project the confidence they are looking for. So don’t waste time second-guessing your lovability, or your great ideas, because you, in fact, wear those on the outside.

Business Essentials: Project Management Software

Business Essentials: Project Management Software

Tech companies have been hard at work over the last decade finding ways to streamline their workflow. As a result, numerous companies have entered into the domain of developing software specifically designed to manage their various projects and they have addressed almost every growing concern under the sun. Project management software in this day and age is powerful, easy to use, ubiquitous, and cheap. Businesses are quite literally spoiled for choice in this area and, if your company is not currently using any project management software to coordinate your projects, it’s time to take a serious look at how one of any of the number of programs that are out there might add value to your company.

What’s out there?

Sometimes choice can be a difficult thing to handle. With so much choice out there, how do we know which program is going to be the right one for our business? How do we know that it will be able to do the things we need it to do? Basecamp, Asana, Microsoft Project, Smartsheet, what’s the difference?

Generally speaking, there is no difference – they are all designed to help you manage your projects in one way or another and all will perform many of the same functions. Where they differ is in how you interface with each program. One could choose blindly and accept that there will be a learning curve to understanding how the program operates. No matter which program you choose, eventually it will become an extension of how your business operates.

However, there are a couple of points worth investigating first:

Web-based or on-prem? – One thing you need to decide is whether or not you want to operate your project management software literally from within the building (or “on premises), or if you want your project management to be handled on the web. On-premises software has the advantage of typically being more robust than web-based software. However, companies more and more are trending toward web-based programs because they have been stripped down in order to be more easy to use and because it does not involve installing the program on every computer in the office. Instead, project members simply visit the relevant website.

Proprietary, GPL, or Open source? – What these three terms refer to is the type of license a program might use and defines what you are allowed to do with the software once you have it. Whether a program is free to use or not, project management software will most commonly use a proprietary license meaning that you agree to use the program the way it is simply to help you with your business. Other licenses may give you the freedom to tamper with the code and tailor the software to your company’s needs, but this does take some savvy and you’ll need a competent computer engineer.

How they work

As mentioned earlier, every project management software is initially designed to do more or less the same thing and most will cover all the essential components of what it takes to coordinate a project.

Communication – If a program does not allow for a team to communicate with each other, then it’s not of much use. Virtually all programs keep each project separate from one another so, when running more than one project at the same time, it’s easy to track what’s been discussed about which projects. It’s even possible to cherry pick who needs to know which pieces of information so that the right people get the necessary information while everybody else doesn’t have to feel bogged down by excessive communication that is not relevant to them.

Scheduling – Project management software also allows your company to set milestones and completion dates for aspects of a project. Anyone involved can then go to the calendar and see what tasks need to be completed, allowing them to better manage their own work.

File Sharing – Any project management software acts as the central hub where all the information regarding a specific project is located. It is open for all the people involved in the project to get their hands on. Relevant documents can easily be uploaded and shared for all to give their insight or make changes.

Although these represent the core of what most project management software will address, each program provides its own nuance, bells and whistles, and special features. How you decide to use these features is anybody’s guess but you’ll eventually find that there 101 ways to solve any number of problems right at your finger tips. 

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.

3 Lessons Every New Manager Needs to Learn

There is a first time for everything. Your first bike ride. Your first report card. Your first car. Your first time

as manager.

For those first three, you probably had a lot of help from a parent, a teacher or an instructor. When it comes to taking over the reins of management, you probably learned as much from the bad managers as with the good managers you've had to work with.

Hopefully, those lessons will prove valuable as you move into this next chapter of your career. After unpacking your office and making sure they spelled your name right on the door, you'll want to consider these top three lessons every new manager needs to learn:

Not Every Employee Will Stick Around

As a manager you are taking responsibility for your team. You want them all to shine and live up to their potential. But guess what? For some they may decide that they will grow better at another company. There is nothing wrong with hiring personnel that you know might only stick around for a few years.

As long as they get the job done, they don't have to aspire to the lofty heights of the corporate tower. This means that you should embrace employee turnover. Mixing up the staff can be a good thing and keep everyone on their toes. However, for those team members who do excel you want to keep them around. It doesn't make sense to get rid of your heavy hitters.

Be the Boss in the Decision Making Process

A good manager will listen to their staff. Keeping those lines of communication open is vital to maintaining a productive work atmosphere. Yet, when it is time to make a final decision you need to become the ultimate "decider." It won't be uncommon for you to look around your conference room and find that the majority of your staff disagrees with a particular decision. If the workplace was a democracy this would matter. It's not and that's why you have to step up and pull the trigger on the decision. Sink or swim, this is what a manager does.

Be Friendly but Don't Be a Friend

Many companies are proud to boast that their workers are like one big family. While it is true that this can create big returns in terms of productivity it can also become a major hindrance. If tough choices have to be made about the direction of your company you're going to have an extremely hard time letting down "your family."

This doesn't mean you can't be friendly with your staff. In fact, you should. However, there is a vast difference between going out for the occasional lunch or happy hour and becoming so immersed with all the ups and downs of their private lives. It's always best to keep it professional. 

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.

How to Manage a Business and a Marriage

The goal of becoming a small business owner is to build your business to a level so that you can provide financial security for yourself and your family. That is one of the reasons as to why you enter into business. In many ways, you work hard now so that you have you can have fun later. Unfortunately, that message often gets lost - especially with new start-ups as more time is devoted to the management of the company and fighting fires. Most importantly, your relationships, especially your marriage, often get neglected.

In many cases, marriages break down because one of the partners spends too much time at work. It doesn’t always have to be that way. Just as you have spent time in writing your business plan, you should also spend an equal (if not more!) amount of attention to your marriage. Here are some tips to help you maintain a successful business and marriage.

1.      Make A Plan

Scheduling out every moment of your life sounds a bit obsessive. But if you can find a way to schedule most of your waking time and stick to that schedule it could pay off in the long run. What you should do is to schedule in the times during a day where you would spend working, and the time where you would relax with your family. For example – highlight in your calendar:

·         The hours 9 am to 5pm for your business

·         And the hours 6pm to 10pm is to be spent with the family

If you can stick to your schedule then you’re ahead of the game. However, to be more productive you need to be ruthless in cutting out non-essential activities that cut into your schedule. During your work hours you want to be completely focused on the tasks at hand. If you schedule time for a special dinner date with your wife/husband or coaching soccer practice with the kids then you should be equally focused on that time – and that means not taking work related calls! It all comes down to matter of good time management. So, be obsessive with your scheduling your day.  

2.      Create Quality Time

Just because you set aside time for “date night” or “family fun” doesn’t mean the work is over. You need to put some effort into creating quality time for those special events. Yes, you’ve spent all week up to your eyes in meetings, conferences and reports. The last thing you want to do is figure out where to go to dinner! Well, going that extra step to take charge will show you really do care about your relationship. It’s simple. Let’s say you have a date with your wife, here’s what you do:

1.      Pick your top three restaurants.

2.      Send an email or text message to your significant other asking them to make a top pick and you’ll handle the rest.

Don’t stop at just dinner. Plan ahead for a romantic weekend getaway, a night at the theatre, or a beach day. If you are really busy, you can hire a virtual assistant to help you make reservations or organize your week. It takes zero effort but holds the promise of great rewards.

3.      Keep the Lines of Communication Open

This is crucial for a marriage whether you own a small business or not. The old adage of “don’t go to bed angry” makes a lot of sense but hopefully you’ll find a way to work out your problems before you make it to the bedroom. Most issues with communication have less to do with what you’re saying as opposed to what you’re hearing. Genuinely listening to your partner’s concerns and applying empathy is crucial to keeping those lines of communication open. When you can put good listening skills into practice, you should get the same in return. That’s going to mean all the “channels” will be open and clear for a success marriage and business.