08.31.10
Posted in Entrepreneurs at 7:24 pm by Karen Donaldson
Entrepreneurs are in constant demand, as are most executives these days. So we see them with their phones constantly calling, texting, e-mailing. But, is all this connecting a help or a hinder to your business?
The constant connectivity may cause lack of focus on the really important matters. The most successful people I’ve worked with limit their connectivity. They have the will-power to step away to focus on a meeting, strategic issues, or their people.
So try putting your phone on “silent” and focusing on your most important task – not necessarily the most urgent – and see how you work differently with more focus.
Permalink
01.28.10
Posted in Entrepreneurs at 2:17 pm by Karen Donaldson
Yesterday at Credit Suisse, I heard Working Mother Media President, Carol Evans talking about how large companies and the “Top 100″ best companies for working mothers companies use flexible work arrangements for their employees. Can entrepreneurs take advantage of both generation Y’s and the boomer generation’s desire for flexibility in the work scheduling? Yes. Knowing how important flexibility is to employees can help entrepreneurs create flexible working schedules to meet temporary (like doctor’s appointments) and permanent (like child or elder care) needs. Employees are more productive, which results in bottom line increases, when they are able to integrate their personal needs with their professional responsibility. Business owners also benefit from reduced recruiting, hiring and training costs. The key is clear communication about meeting business needs. Talk openly with employees about how they will acheive business goals, and make the “what” they achieve the focus, while discussing scheduling solutions that meet both the businesses needs, and personal needs of employees.
Permalink
10.15.09
Posted in Entrepreneurs at 9:10 pm by Karen Donaldson
For many entrepreneurs, evaluating employee performance is as simple as whether an employee job gets done or not. A leader uses feedback to help change employee behavior and get better results. You can provide positive feedback for behavior you want repeated and constructive feedback to change behavior you want to change. Viewing it as simply this, a way to reinforce or change behavior can help entrepreneurs use feedback to get better results from their employees. People often avoid giving feedback when they see it all as negative. Here’s the way to take advantage of feedback and use it to change or reinforce employee behavior: identify the behavior, state how it helps / hurts the business, state how you would like to see it again, or see it changed, and state the impact. Example: “You wrote an (in) effective PR piece last week, it helped (hurt) our reputation, if you continue to write positive (negative) pieces it will increase our exposure to our target market (to change a negative – “consider the target market’s reaction before writing”). That’s it. Simple and effective.
Try it with a positive result you want repeated, and see your employee do it again. Then try to change a behavior you want changed. Once you see how effective feedback is at changing behavior, you’ll get better results by using it.
Permalink
08.28.09
Posted in Entrepreneurs at 12:43 pm by Karen Donaldson
It’s back-to-school time and many people associate fall with a new start. For entrepreneurs this is a great time to take a look at your goals from the beginning of the year and see where you’re at. Look through what you wanted to achieve for your business at the beginning of the year and assess the progress you have made. For those items not yet achieved, prioritize, brainstorm solutions, identify new approaches and work toward achieving them by year end. Taking time to write goals and evaluate progress makes people more likely to achieve them. Why not take advantage of that fact and increase your likelihood of achieving your goals?
Permalink
07.23.09
Posted in Entrepreneurs at 11:30 am by Karen Donaldson
Running a business means a lot of hours managing all the moving parts that go with being the owner. In recent coaching session I’ve asked business owners what they are tolerating in their businesses that may be getting in the way of achievements. Answers went from employee habits like extreme lateness and offensive behavior to vendors changing pricing without notice. The next question was “what is the impact of these toleration on the business?” And, what would it “cost” (time, energy, stepping up to address the issue) to change the situation and not have to tolerate it anymore. Often the answers were straight forward and the impact to the business was worth the effort of elimating the toleration. What are you tolerating?
Permalink
05.01.09
Posted in Entrepreneurs at 12:02 am by Karen Donaldson
Yesterday while moderating a panel of successful entrepreneurs, I heard Anirban Das, President and CEO of USAS Technologies www.usastechnologies.com, make an insightful comment about the impact of a leader’s actions. He said a leader’s words and actions “impact the organization like throwing a boulder into a bucket impacts the water.” That’s how much each statement a leader makes and each action he or she takes impacts the organization. This is a realization that takes time for some entrepreneurs to learn. As the leader of the organization, an entrepreneur should know that each word holds so much weight, and creates so much movement in the organization. Effective leaders learn this skill to create the movement in the direction that benefits the organization. Taking the time to consider the impact of statements is a valuable leadership tool for an entrepreneur. The sooner the leader learns this; the quicker he or she can make statements that will have positive results, and align with the strategic direction of the company; a skill that once learned becomes a valued resource for the leadership of a company.
Permalink
04.16.09
Posted in Entrepreneurs at 5:02 pm by Karen Donaldson
Entrepreneurs rely on passion for their businesses, good decision-making skills, and some luck to achieve success. With some entrepreneurs struggling to sustain their businesses in these tough times, it’s important to feel gratitude for what you have achieved, and those who have helped you. Spending a couple of minutes thinking about how thankful you are for specific accomplishments helps increase your focus on achievement overall and results in more accomplishments. The time spent focuses on gratitude and emphasizing the positive achievements pushes out negative thoughts and helps you bring more of the positives into your business. It can also spread to your employees as you verbalize your thankfulness for their contributions. As a leader you are then building a culture of positive acknowledgement, which brings positive bottom line results.
Permalink
02.26.09
Posted in Entrepreneurs, Recommended Reading at 1:22 pm by Karen Donaldson
Leaders, especially entrepreneurs, expend so much energy each day that they are often left depleted and worn out. With all the tasks leaders juggle it’s important to consider what activities give you the most energy and what activities sap the most energy. Taking a few moments to consider where you get energy, whether it’s meeting with clients or taking 10 minutes for a brisk walk, can help you get through those activities which deplete your energy. Building in activities that give you energy will help you gain extra energy in your day. For those that deplete energy, consider delegating those tasks. I talked about this at the Columbia Women in Business conference last Friday when I was on a panel with Joanna Barsh, a McKinsey partner. Her article, a precursor to her book, on Centered Leadership which touches on the impact of energy flows, is available at mckinseyquarterly.com
Permalink
02.09.09
Posted in Entrepreneurs at 2:26 pm by Karen Donaldson
While working with coaching clients, I’ve found a world of possibilities open up by asking, “What if?” During several recent goal-setting sessions, I’ve helped clients move beyond what’s happening in the economy and specific problems in their businesses with this question. When we ask “What If?” we shift the focus from the problem to the possibility. When trying to figure out how to reach targets given the current market conditions, ask “What If” to stimulate new ideas and approaches. People are still buying. They may buy differently and respond to different incentives. So ask, “What if people could buy from me differently?” “What if I changed the method that I use to find customers?” “What if I packaged my services or products for a new set of customers?”
Keep asking “What if” questions without judging the responses. Involve some trusted colleagues or advisors. And see where it takes you and your business.
What if you tried this?
Permalink
12.02.08
Posted in Entrepreneurs at 5:28 am by Karen Donaldson
As a small business owner, you can be lured into visions of success when a large company wants to distribute your product or seeks to partner with you. One of the most valuable words you can say is “no” when responding to requests that aren’t right for your business. This could apply to product extensions, a new business partnership, or a distribution channel. Sarah Kugelman, founder of skyn Iceland says that she learned this valuable lesson from Tarte Cosmetics founder Maureen Kelly; sometimes say no. Sarah Kugelman has said this to major retailers who wanted to distribute her skin products which address the impact of stress on the skin. The distribution of her products would have been in diverse locations which would have been logistically difficult to service. So even with the lure of distribution by this major retailer, she said no to the agreement.
She describes this decision as one of the best she has made as CEO of skyn Iceland. It has not thwarted efforts to distribute through channels that do work for her company. So when facing a potential opportunity with a “name-brand” large company, you can pause and evaluate the fit with your small business’ strategic direction and goals. This will help you say know when to say no; when it’s the best decision for your business to move forward in a different direction.
Permalink
« Previous entries Next Page » Next Page »
