Why It's Good to Create Problems for Your Organisation

You may have heard that entrepreneurs, business leaders, and even church leaders need to be good problem solvers. After all, they have to overcome obstacles in order to survive. But a successful leader also needs to be a good problem creator!

Why on earth would a leader want to create problems? Aren't there enough problems to deal with already?

Well, yes – and no. No matter what you do, your organization is going to have problems. If you move too fast, you can create problems. If you don't move fast enough, you can cause an entirely different set of problems. And even moving at just the right speed can cause its own problems.

So what's a leader to do? The key is to create the right problems. You see, too many leaders wait for problems to come to them. When they do, they end up reacting. The problems end up running the leader instead of the leader managing the problems.

But when a leader has a clear direction for his organization, he can create problems that force the people in his organization to move forward and accomplish the goals. In fact, by their very nature, goals are a form of problem the leader creates to push people toward a desirable destination.

Here's an example. A friend recently wanted to see his real estate company grow, but he wasn't sure how to motivate his employees to take action. So he set up some specific goals for the company and then he shared them with his employees. But he went a step further. He also made some deals that would stretch the company more than it was used to, but not so far that it would break. He essentially kick-started the entire organization to take action toward the goals. He created a problem and then expected his employees to solve it.

The result? Not only did they reach the goals he set for the company, it inspired John to up the ante for the next year, creating even more problems. He found that creating his own problems gave him a lot more control over the destination of the company and made him more successful than he ever thought possible.

The only caveat to creating problems is that you must have a sober view of how far you and your organization can realistically go. Creating too many problems, or problems that are too big, will cause serious damage to your organization and to your reputation. Before you begin, think it through carefully, and have a clear plan of action to solve the problem.

(Steve Kroening writes for Success magazine and publishes www.wisdomsedge.com

Why Now Is the Time to Start a New Business

By Steve Kroening

Fear is gripping the global economy. That means a lot of people are scared to start a new business. Don’t be one of them. History proves that down economies provide an excellent opportunity to start a new business.

Something happens during a recession: People’s needs come front and center. And needs are the basis for a good business (profit and non-profit). When you can meet people’s needs in a way that no one else can, you have a good business idea.

Starting a business in a recession has other benefits. It forces you to be very frugal. Like everyone else, you don’t want to spend too much right now. Cash is hard to come by. So starting now will help you keep costs to a minimum.

In addition, starting your business now will help you identify whether it’s a good idea for good times and bad. If it works now, it most likely will work when the economy picks up.

It’ll also let you start at a much lower cost than when the economy is hot. You can probably find office supplies, equipment, and other necessities at greatly reduced prices right now.

Finally, it gives you a head start over the competition. Other people might have your same idea, but they’re giving in to fear, and waiting. Others who might be in similar business are probably cutting back right now and reducing their business. Gaining momentum and market share now gives you a big jump when the economy turns.

But why start your business on the Internet? Obviously, the Internet has some unique qualities that a normal “brick-and-mortar” business doesn’t offer. First, think of the Internet as real estate. Your website is simply a piece of land in a global marketplace. You can buy a piece of this land (your domain name) for less than $10. You’ll never find actual land for anything close to that price. Yes, you have to pay for hosting (see the banner at the bottom of this email for a great deal on hosting). But that cost is small too.

Second, you can start an Internet business while you still have a regular full-time job. That’s just about impossible with a brick-and-mortar business. It also gives you some stability while getting things going. The big negative here is family time. It’s easy to let work run your life. And for a time, it might be necessary. But always keep this in mind as you get into having a second job.

Third, you have access to an entire global market. For instance, Wisdom’s Edge® is becoming more and more popular overseas. We have a growing international presence that opens up tremendous business and ministry opportunities. We never could have done that with a brick-and-mortar business.

The key to making it on the Internet, though, is this – you have to find a niche. The more specific you can be in your market, the better.

(Steve Kroening writes for Success magazine and publishes www.wisdomsedge.com)

How To Stay On Top Once You've Reached It

By Steve Kroening

Have you ever noticed how hard it is to stay on top once you’ve reached it? Just look at professional or college sports. How many teams do you see win two or more championships in a row? It doesn’t happen very often. Staying on top is often more difficult than reaching the top – in sports and in business.

So how do you stay on top? How do you maintain that edge that will keep you there? And where should you focus your attention?

Vince Lombardi, the legendary coach of the Green Bay Packers, is famous for starting every training camp by saying, “Gentlemen, this is a football.” These were pro football players who knew what a football was. So he wasn’t telling them anything new. What he was doing though is a major part of how Lombardi led the Packers to five NFL championships and two Super Bowl victories.

Lombardi was simply reminding his team that the secret to success – and staying successful – is to focus hard on the fundamentals. There’s always a temptation to stray from the fundamentals once you’ve reached the top. It’s easy to develop an ego that says, “I don’t need the fundamentals – I’m better than that.” And it’s even easier to become lazy. But the most common reason people (and companies) don’t do the basics is because they simply forget. They get caught up in the busy-ness of business.

When a company loses its focus on the fundamentals, it begins to respond to events in detrimental ways. My good friend Andy Mayfield, vice president of North Highland Company, a major consulting firm working with Fortune 500-type companies, says companies tend to make “a series of urgent, reactionary decisions that can often be more damaging than stabilizing. An everyday analogy is the tendency of a driver to over-correct and jerk a car back into the road after it suddenly veers in a slick patch. As everyone knows, this quick desperation can cause great damage or even complete catastrophe.

“The same can happen in a company. Instead of just one catastrophe, however, many companies develop an environment of endless, urgent crises that must be addressed – immediately. This cycle can be extremely destructive for leadership and the organization.”

Andy says, “Companies stuck in this cycle of under-performing and over-reacting tend to focus on the next big thing that will solve the company’s urgent problems.” They fail to realize that simply returning to the fundamentals of their business will bring far greater success than trying to pull-off an effective “get-rich-quick” scheme. “Get-rich-quick” schemes almost never work for individuals. And they don’t work for companies either.

One reason franchises are so successful is that they have a fundamental approach to business that can be repeated over and over again. John Hewitt (of Jackson-Hewitt and Liberty Tax Services fame) once told me the main reason franchisees fail is because they don’t follow the system. They don’t pay attention to fundamentals. The same is true for any business – regardless of size.

Amazingly, some businesses do succeed – at least initially – even though they don’t follow fundamentals. In our next blog, we’ll look at how they succeed and what fundamentals they must instill before they crash and burn.
(Steve Kroening writes for Success magazine and publishes www.wisdomsedge.co

Self-Promotion Dos and Don’ts

Part of the beauty of running a franchise is having a substantial portion of marketing and promotion done for you. By taking on a franchise, you’re becoming part of a company with an established reputation; so growing your business isn’t half as difficult as for those who go into business alone.

The best franchise operators see marketing support as a running start rather than a chance to relax. Because even if your company has a marketing strategy in place, there is always more you can do to promote your services or products. To help you on your way, here are some practical Dos and Don’ts:

Do tell your friends, family, and neighbours. Enthusiastically sharing news of your enterprise is always good for business, so be prepared to hand out coupons, leaflets, and business cards wherever you go.

Do network. Seek out other entrepreneurs at parties, in public, and at conventions to get tips, strategise, and spread information about your company. Be assertive in introducing yourself and always make sure to hold onto each contact you make—you never know when you’ll need a good caterer, copier, or even a new employee.

Don’t neglect to take a break. In your personal life, if you find yourself talking about your business more than any subject, you may be alienating friends and family who want to put work aside for a while.

Don’t deviate from company standards. If you are a franchisee, your company likely has standards for promotions and advertisements. Use company-provided materials when possible and contact Head Office if you’re not sure about marketing policies.

Do use sites like LinkedIn, Digg, Reddit, and Facebook to promote your company through publicity and online networking. Mastering even one of these sites will generate a tremendous amount of exposure.

Do get creative with contact information. Key information, like your web address, phone number, and even company slogan is often enough to pique public interest, so post it wherever possible. Include this information in your e-mail signature, all written correspondences, and even post it as a decal on your car window. Seal your letters with company stickers, hand out company pens, or wear a pin or carry a keychain with the company logo. See every outing as a chance to promote your business.

The Top 5 Secrets of Great Multi-Taskers

1. Single Home System

Every day, the average professional spends far too much time hunting down supplies and information. The result is a sharp and unnecessary cut in productivity. Having a single home for everything in your workplace is the simplest, most effective step you can take toward efficient multi-tasking. From the stapler, to your keys, to your file of important contacts, give every item a single spot and always replace it there after use.

2. Lists, Calendars, Spreadsheets

Mental organization is just as essential as physical organization, and using lists and planners is the easiest way to keep track of your hectic life. Your To Do List ought to be king—start each day by writing out a detailed list of your prime objectives. Update your calendar regularly and keep it in a highly visible space. Track inventory, profits, clients, etc. with electronic spreadsheets so that you never have to waste time guessing over important figures.

3. Take Note

Neglecting to make notes out of pride is rather silly. Real proof of intelligence is a consistent and reliable system. Anyone who has to juggle tasks all day knows that leaving a paper trail means you’ll never be lost, and they take notes at meetings, in training, and even when they are on the go. Carry a notebook with you for strokes of genius that you don’t want to forget and always write down new concepts for reinforcement and reference. Even taking notes while on the phone can be an effective way to retain new information and leaving sticky notes in your workspace as personal reminders will help you stay focused.

4. Group

When planning your schedule, group tasks mentally by location, people involved, level of intensity, and nature of work. This will help you decide which tasks should be done in what order, and how some tasks can even be taken care of simultaneously.

5. Adapt

In a demanding work environment, you must learn the art of adaptation. This means learning to channel stress into positive energy so as not to miss a beat. Teach yourself to mentally re-arrange tasks, substitute priorities, and cut losses. Truthfully, there may never be enough hours in the day, so it’s up to you to decide what is essential, what can wait, and what must be sacrificed. Practice this by numbering each item on your daily task list from 1-3, with 1 being the most important. This will train you to think in terms of priorities.

An Opportunity for Growth

There was more unpleasant news from the BBC business coverage today. The TUC has warned jobseekers that for each advertised open position, there is an average of 10 hopeful employees.

From the BBC,
“The trade union body said the ratio - which applies to unemployed people who are claiming jobseeker allowance - had more than doubled over the past year.

The TUC said that while 10 unemployed people were chasing every advertised job in January of 2009, a year earlier it was only four per vacancy.”

Because employers must now look over heaps of CVs, it is difficult for even the most outstanding candidates to get much attention. Because every employer emphasises different skills and experiences, there is no guarantee that any one CV will impress when it counts.

Meanwhile, a 10-country Global Entrepreneurship Monitor (GEM) study by researchers from Babson College, London School of Business, and the Kauffman Foundation, has found that going into business for oneself is one of the most effective ways to help grow the economy.

From SmallBusinessNotes.com,
"The GEM report provides conclusive evidence that promoting entrepreneurship and enhancing the entrepreneurial dynamic of a country should be an integral element of any government's commitment to boosting economic well being," said Paul Reynolds, GEM project coordinator and a professor at both Babson College and the London Business School. Adds Michael Hay, a GEM project director and professor at the London Business School, "GEM endorses the argument that entrepreneurship makes a difference to economic prosperity and that a country without high business start-up rates is risking economic stagnation. Countries that are able to replenish the stock of businesses and jobs and have the capacity to accommodate volatility and turbulence in the entrepreneurial sector are best placed to compete effectively."

Not only does today’s entrepreneur have the chance to take his or her professional life by the reigns, but also the opportunity to generate new jobs and revenue streams for others who have been hit by hard times. We are truly grateful to today’s business leaders, and encourage you to consider the positive impact you may make by putting your natural skills to good use as an entrepreneur.

Separating Life and Work: Tips for New Entrepreneurs

Going into business for yourself, even as a franchisee, means taking on a great deal of personal responsibility. It also means that as you start to thrive and succeed, you are the first person in line to reap the benefits of success. However, along with the power and responsibility of professional independence comes the temptation to work for as long and often as it takes to meet your goals. While that determination should be celebrated, it is also necessary to limit the amount of energy you give to your professional life. Not doing so can lead to exhaustion, decreased productivity, and general dissatisfaction. Luckily, there are some fairly simple ways to ensure that rapid professional growth enhances and complements a rich personal life.

Set Boundaries. Establish business hours and keep to a firm schedule. After hours and while away, leave messages on your answering machine and e-mail to notify clients of when you will return. Maintain personal phone lines, e-mails, and other contacts when possible. On weekends, only check into work matters periodically or when absolutely necessary. Of course, working for yourself will require additional time commitments in the beginning, but always work toward a schedule you can be happy with. Also, do provide clients an emergency contact so that they may reach you under extenuating circumstances.

Surround Yourself with Positive People. In both life and business, it’s important to know what kind of people encourage you to do your best. Working for yourself gives you the chance to determine whom you will interact with on a daily basis, and this can be a tremendous asset. Schedule lunches with people who inspire you and only go into business with those you trust. After hours, meet with friends and family who will cheer you on and listen to your triumphs and concerns.

Enjoy Your Success. All work and no play is a tempting scenario for entrepreneurs on the verge of great success. Growing your business will push you to want to achieve more, and some people get sucked into the cycle of aggressive progress. While it is wonderful to feed off of the adrenaline and satisfaction of a job well done, try to constantly touch base with your initial motivations and life goals. Spending more time with family and friends, volunteering, travelling, and being able to afford certain luxuries are all privileges of the highly successful, so don’t be afraid to celebrate!

Identifying Entrepreneurial Allies

You can greatly increase your visibility in today’s market by establishing close ties with other entrepreneurs. But beyond simple networking, you’ll need to get assertive and creative in partnering with other businesses if you hope to see substantial growth. So how do you turn a contact into an ally?

Know what your clients want. What does your business offer to clients in the larger sense? Self-improvement, comfort, education, safety? Get to know what motivates your clients and you’ll have a major advantage in seeking them out.

Seek out similar and complementary businesses and services. Once you know what your clients are looking for, consider who your indirect competition may be. For example, at TopMatch, our clients are looking to enrich the overall quality of their lives, so they can often be found at gyms, salons, and taking classes. Who else can give your clients something they want?

Come up with a deal that’s triply beneficial. Not only will you need to consider what promotions will be good for you and your potential clients, but you’ll also need to consider how to make it worth the while of your potential business partner. How will your promotion in their publication, lobby, or locker room help this business? Will you offer to advertise their service on your website, recommend their business to clients, or give them referral incentives? Often these details can be negotiated over time, but be sure you have some incentive built into your initial partnership proposal.

Track success. Award small discounts or incentives to reward new clients willing to mention how they found out about your business. You can do this when they sign up or make a purchase, or through a longer voluntary questionnaire.

Maintain and expand your presence. Seek out other opportunities, and check in with current business partners. Consider using new marketing materials or strategies over time to keep the attention of your partners’ returning clients. Whether you’re placing fliers, sponsoring an event, or giving out prizes, try tweaking your approach from time to time so that your ads continue to get noticed.

A Conversation with Russell Leach, TopMatch Co-Founder

The Franchising Blog recently interviewed TopMatch Co-Founder and business expert Russell Leach. Here’s what he had to say:

Franchising Blog: You’re always looking for new people to join Team TopMatch as both Franchisees and Consultants. What kind of person is the best match for a career with TopMatch?

Russell Leach: If you have genuine interest in people and an enthusiasm for bringing people together, we can probably find a great place for you on our team. We are able to offer our team members sophisticated training that teaches all day-to-day systems operations, so first and foremost we seek out men, women or couples with natural people skills, determination, and enthusiasm.

FB: It’s no secret that the economy is suffering worldwide. How is TopMatch still able to grow and expand in such troubled times?

RL: As troubling as it is to consider the economic climate worldwide, TopMatch is providing a service that comforts those experiencing anxiety. Most people admit they feel less worried by economic instability if they have someone special to offer emotional support, and for those who feel alone, TopMatch is able to help. In addition, many people are seeking a more secure option and have a desire to take control over their lives; a TopMatch Franchise offers them that solution.

FB: What made you want to create a service like TopMatch? Was there an “Ah Ha!” moment when the idea struck you, or did it come to you over time?

RL: I have many years of experience in the industry, initially arising after my divorce and a desire to create a better solution for singles, so the vision of TopMatch built up in my mind through careful research and observation. People want a solution that really works, but not everyone can afford exorbitant fees that traditional matchmakers charge. Using technology and effective marketing techniques to reach new Members helps us keep overhead low, while employing real relationship experts guarantees a quality of service that most dating sites can’t touch.

FB: There are literally thousands of dating sites available to today’s singles. Why were you confident that TopMatch would stand out in the crowd?

RL: If there are so many dating sites, why are there still so many singles? It’s because most of them simply don’t work. I wanted to create a service that focused on real results, and to do that we vowed never to let a computer manage someone’s love life. Because our matches are hand selected, TopMatch clients get a secure, quality and personal service that is unlike any other.

FB: Tell us why you like the franchise business model? Why is it good for TopMatch and why is it good for clients?

RL: I have a very firm belief that anyone who is capable of controlling their own life through running their own business - if presented with the right opportunity, they should take it. However, I realise their decision is based on a real desire for freedom so whilst we provide the operating system, comprehensive training, support, and necessary materials, each franchisee is free to use their own judgement to run their offices day-to-day.

Using locally based Franchisees allows each office to operate in the most efficient manner possible as our Franchisees know their areas and they get to know many of their Members. Our Franchisees have the comfort of coming to head office with any questions ongoing. It’s the best of both worlds for them, and it means that our Members get personalised, immediate and professional attention whenever they need it.

Getting the Best From Your Team

“The task of leadership is not to put greatness into people, but to elicit it, for the greatness is there already.”
John Buchan

Whether you have 100 employees or 2, or even if you just want to be a leader among colleagues, it’s important to remember that everyone has the capacity to do great things, but it takes someone to believe in and push people to get them to do their best. So what can you do to become a more effective leader?

Get to know each individual. Engage your employees and colleagues in discussions about their interests and passions. Really listen and remember what they say. Recognizing birthdays, learning the names of family members, and even connecting over favourite pastimes will help make the people around you feel unique and cared about. It will also help you understand how to best motivate them to get the job done.

Admit when you’re wrong (sometimes). Don’t be afraid to ask for help or admit you’ve made a mistake. Showing some humility will let your team know that you value their honesty and input and that they are instrumental to your success. Just be sure not to overdo it—show confidence in times of stress to keep the team focused.

Set specific goals and recognize accomplishments. If you set clear goals and recognize successes, your team will be more effective and more enthusiastic all around. Push your employees to grow and challenge them with loftier goals, but make sure every goal is attainable. When people fall short, focus on what they can do better next time, not where they have failed this time.

Give people a lot to live up to. Dale Carnegie used to say, “Give the other person a fine reputation to live up to.” This means that when you remind people what they do well, they will be that much more eager to prove you right. So when assigning a tough task that nobody else wanted to take on, tell your employee, “You’re the most capable person for the job and I know your insight will make this project a success.” If someone has let you down, say, “I know you are a resourceful person, that’s why I’m sure you can do better next time.”

Stay the course. Don’t experiment with all kinds of managerial styles—find what works for you and stick with it. A consistent approach will help build trust between you and your employees, and will show people what kind of attitude you value.