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Growing a business is very much like raising a child. Both require lots of love and care, sleepless nights, excessive worrying and far more money than you originally envisioned. However, both are infinitely rewarding. Except, of course, that a business is not really your child. Or is it? Let’s do some serious comparisons and ask some pointed questions.
Proper care of a child begins at the pre-natal stage when the mother is informed of both detrimental and positive courses to take during the pregnancy. After the child is born you take him to a pediatrician, not to a friend of a friend who finished a couple of years of medical school. When your child starts walking, you look for just the right shoes, not for the cheapest or cutest ones. Your child needs good supportive shoes that will protect the little one’s foot from the hazards of the outside world. And when it’s time for the child to start school, we oftentimes move to a new neighborhood simply because it is in a great school district. We do everything we possibly can for our children without being told to. It is human instinct to want the best for those you love.
Sadly, this is not always the case with our business needs. For all the comparisons, when people start new businesses, they often make a mistake of going to sources that are grossly inadequate or simply not the best. When planning a family most people sit down and map out just what needs to be taken care of from pre-natal care to a college savings plans. They have huge expectations for their family and strive mightily each day to realize those expectations. So why in the world would a new business owner not exercise the same due diligence with the very thing that will allow their family to prosper financially as it grows?
Is self employment right for you?
Working for yourself, much as starting a new family means that ALL responsibilities rest on your shoulders.
Do you have a support system in place?
If this was a new family you were planning instead of a business you would naturally enlist the support of family and friends. Have you created a strong support structure for those times when you are overwhelmed, need assistance, or even financial help? Plan on hiring or retaining professional service providers such as a bookkeeper, a virtual assistant, or a business coach and make sure that you educate your family about the help you will need from them.
Do you have a strong business concept and a business marketing plan in place?
Have you clearly defined who your market is for your product or service? Is your business plan actually written down on paper and includes start up and operating cost projections? Do you know how many employees you will need? How about insurance, office furniture and supplies, software, web development, social media marketing?
Why you absolutely need to hire professionals to help you.
One of the biggest and most costly mistakes that home-based, or small business owners make is trying to do it all themselves. By not concentrating on the core activities that only you can do and by trying to wear all hats at all times, you completely lose control of your own schedule. Some tasks demand your personal attention but others do not. In fact, outsourcing many tasks such as information technology tasks (social media marketing, web or blog development, etc.) to an outsourcing partner such as a highly technically savvy virtual assistant saves your company money by saving time.
These business owners went through significant issues and ended up paying a lot more than originally expected because of their choices. Why didn’t Elena M. hire a professional web designer and Aaron B. – a copywriter? Why did Ken Z. go with the lowest bidder? And why do hundreds of fledgling entrepreneurs repeat these mistakes every single day?
The first reason that comes to mind is money. When you contact a friend or a relative or select the lowest bidder, you get work done for free or incredibly cheaply. But when true costs are taken into account, it really gets to be very expensive. Some of these costs include:
Your time – a friend you enlist to help you has only limited experience with projects similar to yours. As such, she doesn’t have tools and processes in place to efficiently keep track of every aspect of the project. As a result, you will end up spending too much time overseeing every single detail of your request.
Delayed launch – when you don’t get paid for your work, you tend to put it on the backburner. Elena M. found it out the hard way when her cousin kept apologizing for not getting work done because of various events in his life, including a birthday, several holidays, and a weekend out with friends and a few evenings spent working on paid projects.
Poor quality – grammatical errors in Aaron B.’s copy did nothing to help him win customers. In this case, his friend had no quality control processes in place other than running a simple spell check, which proved woefully insufficient. Of course, grammatical errors can be corrected and a website can be redesigned. But by the time these problems are discovered and taken care of, you might lose a few clients or damage your company’s reputation. You have lost both time and money.
Additional costs – Ken Z. ended up hiring a new vendor that spent time undoing all the mistakes the lowest bidder made which made Ken’s project that much more expensive. He learned that it would have been much more cost effective and less time consuming to get it right the first time by a professional.
Damaged relationships – involving close friends and relatives in your business is in this way may lead to arguments and open or hidden resentment. It is one thing to “fire” a contractor since most of the time she can be replaced fairly easily. It is quite another thing to “fire” a close friend.
The sad thing is that for all the trouble you put yourself through, the end product – whether a website, a sales letter, or a data file – is barely above average and that’s if you are lucky. If you expect outstanding results, you need to hire the best help, not the cheapest.
There is, of course, an upside to this situation – you learn a heck of a lesson. The downside is you lose time, money, opportunities, potential customers, and quite possibly damage great relationships with friends and family.
Instead of calling in favors and looking for the cheap solutions, recognize that what your baby – your business – needs at the moment is the right start in life. It needs the best expertise, advice, assistance. Look for help accordingly to your business needs.
**You have permission to reprint in your publication or to your website/blog any articles by Denise Griffitts found on this Website as long as Denise Griffitt’s name and contact information is included. Denise Griffitts, Virtual Assistance Industry Expert, http://internetmasteryblog.com, info @ virtualassistantindustry.com, 888-719-6711.
Relationships can be compared to a garden in that they require attention and care in order to flourish. A garden requires sunshine, water, good soil, fertilizer, and a caring and knowledgeable gardener to tend it. If all, or most of these things are not provided then the garden will suffer. So it is with personal and business relationships.
Please join me this Friday on BlogTalkRadio as I welcome “Successful Relationship Coaches” Paul and Layne Cutright to the show. In this interview Paul and Layne will be sharing relationship wisdom garnered from their 30+ years as international relationship experts, best selling authors, trainers and coaches to help you create satisfying extraordinarily and successful relationships.
When: Friday August 28, 2009
Where: Blog Talk Radio – Denise Griffitts, “Your Partner in Success”
Time: 9 am PST / 10 am MST / 11 am CST / 12 pm EST
Call In Telephone Number: 347-843-4988
Time permitting; we will open up the call for questions and answers. Please be sure to login to the chat room to ask questions during the call.
We look forward to “seeing” you!
Ask Denise Griffitts Your Virtual Assistant Industry QuestionsDo you struggle, strive, work, and wish for more virtual assistant clients, better paying clients… and still not have as much as you need and want? With the economy failing, companies making cutbacks, and your financial future at stake, you might be feeling pretty grim. But don’t even think about throwing in the towel. There are plenty of opportunities out there – opportunities to attract the type of clients you love working with and who love working with you.
If you had 60 seconds to ask Denise Griffitts one question about the virtual assistance industry what would it be?
This call will be recorded but will not be made available for download so to speak directly with Denise you must be on the call.
We look forward to “seeing” you on the call!
**If for some reason you do not immediately receive the call-in information be sure to send me an email at info @ virtualassistantindustry.com.
Look beyond efficiency to effectiveness and align the thinking, behaviors and actions of your team to create the results you want.
By Tony Bodoh, President, Tony Bodoh International, LLC
The blind pursuit of greater efficiency has been the cause of failure for companies of all sizes. CEOs hear real stories of the results of Lean, Six Sigma, or Theory of Constraint projects and they boldly proclaim through an executive order that their companies will implement such programs. Years and millions of dollars later, these programs are abandoned as another failed fad.
Why do these programs fail more often than they succeed?
The answer is astonishingly simple: The management team did not change their thinking which informed their behaviors which caused their results.
Every change program must have essentially the same elements incorporated into it as any successful twelve step program. This is necessary because the processes and policies of companies are the cause of habits and addictions of the staff and management of the company. People do things the same way every day. They also crave the biochemical stimulus they receive through exerting power, being praised, or just being part of the crowd and complaining about what is wrong with the company.
If a CEO recognizes that her change program will come into direct conflict with the power of the subconscious minds of her employees and customers, she will build a program that focuses on changing the thinking and behavior of her employees, long before she address the change in results. In fact, the change in results will be exponentially greater if one focuses first on changing thinking and behaviors before attempting to change results.
How many people really understand the root cause of efficiency? I would argue that very few really grasp the true cause of efficiency.
Webster’s Dictionary defines efficiency as the power to produce the effect desired. Applying this definition to business, we would say that a project which has a thirty percent return on investment is more efficient than a project with a twenty percent return on investment. In essence, it took the same amount of money to create a greater effect.
This is interesting, but how does one create greater efficiencies?
The answer is found in the definition of effectiveness. Webster defines effectiveness as being in a condition to produce the desired effect. It is the condition that is the root cause of efficiency.
When teaching this concept in seminars I use a simple example.
Imagine a car is sitting on a road in neutral and facing the direction we want to go. If several people get behind the car and push, the car will begin to move. The transfer of power is efficient because we get movement.
Now, imagine the car has been turned perpendicular to the path we want to travel. Several people start to push on the side of the car in an attempt to push it down the road. The transfer of power is inefficient because we see no movement.
This example shows that efficiency is determined primarily by the alignment of the elements of a project with the vision of the end in mind. In other words, the car cannot move down the road if it is not first pointed in the right direction. It will take far more power to move a car that is out of alignment than a car that is aligned with the road.
These same principles hold true in business. Every organization is currently aligned to produce a particular effect with a specific amount of power. If the CEO wants to achieve the same effect with less power she must first create alignment in the minds and hearts of her management team and staff. Then she must remove resistance in the minds of customers, vendors and other stakeholders. Only when the alignment is correct will the results be efficiently achieved.
This last statement should not be construed as a reason to wait to act. In fact, you will only know that the conditions are correct when you test, through action, to see if the power you expend causes the results you want.
Follow these steps for success:
It is helpful, and often more efficient, to partner a change expert from outside the company with subject matter experts from inside the company. The transfer of knowledge from the expert to your team will increase effectiveness of future efforts.
About Tony Bodoh International
Tony Bodoh is an expert coach who specializes in aligning an organization’s operations and culture in the service industry. He has a portfolio of alignment projects with financial results ranging from $10 million to over $1 billion. Through projects focused on customer satisfaction and loyalty Bodoh has produced results with double and triple digit improvement in critical scores. Tony Bodoh’s Specialties: Application of Lean and Theory of Constraints principles in service industry.
Denise Griffitts, Founder and CEO of Your Office On The Web and Your Virtual Assistant, along with her team of highly sought after web developers and virtual assistants share insightful tips and tools that you can use immediately to build and grow your online presence.
Denise is a nationally recognized Virtual Assistance Industry Expert, Thought Leader, Coach and Mentor. She also trains and coaches virtual assistants at Virtual Assistance University, a leading provider of training and coaching for the virtual assistance industry. Whether you're just looking to get started as a VA, or you've already got a strong client base, VAU will help you skyrocket your success as a Virtual Assistant.
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