How to Start Your Business Funnel With Clubhouse

How to Start Your Business Funnel With Clubhouse

In April 2020, Clubhouse launched, and many business owners have capitalized on the evolution and drastic growth it has endured. Clubhouse offers a variety of benefits to business owners, and it’s down to these benefits that the app has become a starter point for many entrepreneurial sales funnels. 

In this post, you’ll learn about the app and how to use it as an entrance to your business funnel. 

What Is Clubhouse? 

Clubhouse is an app which can be used on your smartphone. Until May 21st, 2021, it was only available to iPhone users. Now, though, it can be used by iPhone and Android fanatics all around the globe. 

Clubhouse is classed as a social media application, but unlike Instagram or Facebook, it functions and thrives through audio only

Users can host rooms, listen in to other people chatting and educating, and conduct or take part in live interviews. 

When you first join, you’ll be asked to input your interests. These include technology, literature, entrepreneurship, and health. 

You’ll then be able to create a biography. Unlike Instagram which has a strict character count, you have more freedom to capture what your brand does. You also then link your Clubhouse account to Instagram. 

What Are The Benefits of Using Clubhouse For A Business Owner?

There’s a reason why from launch day to February 2021, there were 10 million downloads globally. For a business owner, Clubhouse can:

Allow you to connect and network with other business owners. This is particularly useful if you run a service-based business, as you’re able to swap services or collaborate together. 

Position you as a thought leader through your verbal contributions. 

Encourage you to build a loyal fan-base.

Learn from others about areas you feel you lack confidence in. 

Capture more leads.

Push your other social media channels – particularly Instagram – and gain more engagement. 

Extend your brand’s reputation.

How to Start Your Business Funnel With Clubhouse

It’s not as simple to create a business funnel on Clubhouse than other social media apps, because Clubhouse doesn’t include paid advertising, nor are you able to send and receive direct messages. On top of this, the links added to Clubhouse aren’t clickable, so it all requires more effort from both business owner and consumer. 

However, the rewards far outweigh the struggles. And there are ways around these complications. Here are 4 steps to build a solid business funnel with Clubhouse. 

Step 1: Build A Loyal Following 

As with any social media marketing strategy, it revolves around the engagement and commitment levels of your audience. Therefore, you’ll need to be consistent with your Clubhouse efforts. Host Clubhouse rooms and join rooms that your audience spends most of their time in. Raise your hand to speak and share your expertise. 

Step 2: Optimize Your Bio For Success 

Your biography on Clubhouse is fundamental for success. Therefore, consider your brand’s voice and infuse it into each and every word in your bio. Show the key benefits to your product or service, and make sure the bio is talking directly to your demographic. Consider your bio your own personal website on Clubhouse. 

Step 3: Use Engagement Pods 

An engagement pod is simply creating rooms on topics you’re knowledgeable and passionate about. 

Find other users who you can collaborate with and create content that genuinely serves your audience. You can then create an engagement pod as a team, which will fast track the results. 

Step 4: Make Sure Your Instagram Channel Is Linked

As mentioned before, Clubhouse doesn’t support direct messaging. Therefore, after dropping serious value bombs and gaining interest from listeners, they are unable to message you directly in the app.

It’s for this reason that you must ensure your Instagram account is linked. This is where users will approach you, and you can use this as a way of measuring Clubhouse success. 

Clubhouse Is A Winning Asset To Any Business Owner

Whether you run a service-based or product-based business, Clubhouse offers a wide variety of benefits that can help your business grow. 

It’s important – as with any form of social media marketing – to stay consistent and center your content around your audience. 

Then, ensure your bio is optimized for success with clear calls to actions, and ensure your Instagram account is linked for when your inbox fills up with leads from Clubhouse! 

Relationships Are Currency—Especially In Business

Relationships Are Currency—Especially In Business

Relationships are currency—and in business, they’re worth more than money 

The days of one-sided transactions and cold, impersonal interactions are long gone. Nowadays, people want to do business with those they like and feel comfortable around. 

We’re all busy, but it’s worth taking the time to build relationships because those connections can lead to great opportunities for your brand—opportunities you might not have otherwise had access to. Read on to learn more about the importance of relationships and how to start building them!

How Relationships Can Help Your Brand

You know that saying “it’s all about who you know?” Well, it’s true.

Never underestimate the power of a good relationship with your peers, contractors, clients, and even former co-workers. Having strong connections can lead to increased referrals and job opportunities, introductions to people who can help you reach your goals, and much more. 

In fact, in the same way that networking is an important step in advancing your career, relationships are just as vital when growing a brand. The more people you have on your side supporting, promoting, and recommending you, the more successful you’re likely to be.

While solid connections can absolutely hype you up, they can also provide you with feedback on your website, or advice on getting more clients. They can act as mentors who provide invaluable guidance as you grow your business —especially if the connection is someone who has been in your shoes before.

Not to mention the opportunity to meet a future business partner or podcast co-host!

Building strong business relationships requires time, effort, and consistency. Sometimes it’s hard work, but it’s worth it if you want your brand to succeed.

Best Practices For Forming Strong Business Relationships

Nobody reaches massive levels of success on their own. They almost always had help and support from other people to get there.

So now that you’re aware of the importance of business relationships, it’s time to go over some of the best practices to start forming and maintaining yours.

Be Kind & Generous

Look—everyone is busier than ever nowadays. And no one is going to be interested in connecting with you if you come off as unfriendly or pushy.

The most important thing to remember is that you should always be kind and generous with everyone, even if they’re not in a position to connect at that moment. Show grace in all of your introductions and meetings, and be open to connecting in the future.

Be Valuable

The best way to attract people who are willing to give you value is by giving out value yourself first. More than anything else, people will pay attention if you tell them what you can do for them. Offer one of your services for free or a discounted price, suggest a collaboration, or provide a connection that could help them with a problem.

Don’t Expect Something In Return

Even if you do give them something, don’t expect anything in return. This mindset will attract very different people than if you approach it with the assumption that everyone in your network is there to benefit you. Express genuine gratitude and appreciation for any kind of help, even if it’s just a simple answer to a question or quick introduction.

If you’re inconsiderate or disrespectful of their time, they won’t trust your intentions.

Build Your Brand By Building Relationships

Relationships can open up a ton of opportunities for everyone involved. If you want to learn more about building relationships that can help your brand, click here to discover about working with Alison Todd.

Sales Language Profile Picker

Sales Language Profile Picker

We’ve all been there: you’re walking by a random company’s booth at the mall or you picked up a call from a telemarketer. They didn’t allow you to speak, they didn’t hear your questions, and they didn’t manage to convince you that their product could actually help you.

Whatever way you came into contact with a salesman, it couldn’t have been more obvious that they were just after your money. 

This is the product of poor sales language. When a sales professional stops employing a solid sales language profile, the prospective client ends up feeling like a walking checkbook.

Correct sales language will excite the customer about the topic at hand, highlight how the product is useful to them, and lead to the closing of a sale. In this article I’ll be discussing some simple but powerful words to turn your prospect into a sale. 

What is Sales Language?

Sales language is actually pretty straightforward in definition — these are the words we choose specifically in the context of marketing and making a sale. They’re meant to communicate the selling points of your services, company, or products in such a way that the customer is persuaded to make a purchase.

With that end goal in mind, this language teaches how specific words can elicit ideal behaviors in prospects, such as getting a listener to open up and let their guard down.

Sales language acknowledges that every word a sales professional chooses can trigger a specific feeling or emotion and it’s the salesperson’s job to carefully select the correct words to maximize their messages.

What Should I Add to My Sales Language Vocabulary?

Once a sales professional has acknowledged the power of communication, their next step should be upgrading their vocabulary to include words and phrases that help create positive associations with the brands and products. These words and phrases include the following.

Give customers a clear reason to care about your pitch.

Offering a concise reason why a customer should choose your product or service over the competition’s products, leaves your prospects with an explicit detail worth remembering as they evaluate products from other vendors. 

Highlight any possibilities of loss aversion.

Loss aversion refers to the principle that customers will act in a manner that prioritizes maintaining or acquiring more things. Examples of using this idea in a sales pitch includes emphasizing that your services will lower a bill that a customer has or that they’ll otherwise avoid losing revenue by working with you. 

Don’t be afraid of “because”.

By giving your customers a reason why your product or service is necessary and/or excellent (i.e. giving them a “you need this, because…”) you’re providing them with distinct reasons why their use of your product will serve them in the future. By associating certain results with your product the buyers will understand that your products can help them achieve their goals. 

Build trust by admitting when you don’t know something.

Any salesperson will tell you that a lie is a slippery slope with customers–even if it’s tiny, any lie can call into question everything else you’ve said, putting your company and your products at risk.

By admitting when you don’t know something and then seeking out the answer, you’re showing your customer that they can trust you–and that they can trust you to go the extra mile. 

Imagine your way into a sale.

Asking your clients to imagine what they could do with your products or services is a great way to distill a firm understanding of your offering. By imagining their life with the product this also reinforces the product’s utility in their individual lives.

Create gentle urgency.

This can be tricky–pushing that your prospect needs your services can result in your efforts coming off stale and forced. When speaking with a customer, it’s a good idea to imply that they could have an immediate impact now, but they’re not totally lost without your product right this second.

Don’t Sleep on Sales Language

Sales language is going to be different across all markets and industries–but by focusing on your target audience and how to really connect with them, you’re ensuring impactful sales pitches for the rest of your career.

What is Business Coaching and Why Do I Need it?

What is Business Coaching and Why Do I Need it?

As a business owner, you’ve been looking at your business in the same way since its inception—from the inside. It’s easy to get tunnel vision and miss issues that could be keeping your business from reaching its highest potential. Often, an outside perspective of your business can help you establish a clear vision of where you are, where you want to be, and how you can get there.

My friend, you need a business coach.

What is Business Coaching?

When you hire a business coach, they will provide you with that outside perspective that your business likely craves. They’re essentially a business mentor who can help you understand how to run your business more efficiently. Regardless of your industry or business size, a business coach is an investment in your future.

And business coaching isn’t one-size-fits-all—your coach will look at your individual strengths, areas of improvement, and goals to help you determine a curated plan. They’ll be there with you every step of the way as you execute the necessary steps to grow your business successfully.

Business Coach Roles and How They Will Help You Succeed

Your business coach will customize their coaching style to your specific needs but there are certain roles that every business coach fulfills. Some of the most important hats that a business coach wears are the following:

Outside Observer

Arguably one of the most important roles of business coaching, your coach will take a close but objective look at your business operations. They’ll identify any areas of concern and reprogram operations and provide you with an actionable plan designed to ensure nothing falls through the cracks.

Accountability Buddy

Imagine having a professional partner you will check up on you monthly, weekly, or even daily keep you accountable for business tasks? Enter your lifeline: your business coach. Expect them to keep you accountable for commitments that will help your business grow exponentially.

Analyst

Your business coach will monitor or even create KPIs (key performance indicators) for your business. These metrics allow you to track your progress and tangibly measure your business’ success. If you’re a business owner who is hesitant to analyze the metrics of your business (either out of fear or because you’re unsure how to), you can delegate that task to a knowledgeable business coach.

Goal Getter

You have goals, but you might not know how to approach them. Your business coach will prioritize your business aspirations and give you tangible steps to achieve them. Expect a meticulously organized timeline of events and milestones that you’ll work toward together.

Business Coaching is the Secret Sauce

Whether you’re a brand new or long-time business owner, you know that you’re meant for great things. Allow yourself to reach those great heights with the help of a qualified business coach. If you’re ready to become the business owner you’ve always dreamed out, learn more about my coaching options. 

Customer Journey Map

Customer Journey Map

Do you know how your customers bet from your social media website to a full cart ready for online check out? How do they move from their emails to your sales page? Most importantly–do you know what may be keeping them from selecting that final “checkout” button? If you don’t know the answer to any of these questions, it’s time to delve into a Customer Journey Map.

What Exactly Is a Customer Journey Map?

A Customer Journey Map is a visual representation of the choices your customers make when interacting with your brand. It helps illustrate the interior minds of your clients to better understand their needs, desires, and issues as they traverse across your company’s touchpoints–which are your business’s website, social media channels, and any marketing or sales team member interactions (i.e. customer service providers). 

Customer Journey Maps allow a business to see their products and services from the customer’s perspective. This is invaluable information, because it can help you identify where any pain points are that could lead to you losing a customer, like a bad link or unclear website copy.

These maps generally start out pretty rudimentary. A business takes an excel sheet and fills it out with key events, customer motivations and needs, and any areas of tension within the customer experience. From this, a visual is created to better track a customer’s journey. This structural analysis can help a business organize their procedures and products in a more logical, optimized manner that can lead to more commerce. 

How Do You Create A Customer Journey Map?

As discussed previously, Customer Journey Maps visually communicate the ways a buyer persona may travel through the various touchpoints of a company to reach their end goal. The illustrative part of these maps is invaluable, since the buyer’s journey is no longer a linear one–it can be cyclical, multi-channeled, and go in several different directions. It helps translate all the moving parts of your commerce into one digestible whole.

The first step in creating these maps is collecting data from your current customers. This can be a lengthy process, but the information will inform your buyer personas as well as the map itself. 

Next is mapping out all the touchpoints of your company. This includes any websites, social media channels, and direct interactions with team members that a customer could have. It’s meant to cover all the potential paths a customer could go down, as well as the brand’s response. 

This map indicates if your customer is reaching their goals and, if not, how they can. It will also include customer sentiments, pain points, and actions, plotted in sequential order. An effective customer journey map is one that promotes empathy and provides a clear vision for improving customer interactions.

Why Is Customer Journey Mapping Important?

The answer to this question is multifaceted. As we’ve already talked about, a buyer’s journey in the modern age is a complicated one, it’s tough to narrow down how a client gets to their online cart, and why they may abandon it without checking out. 

Customer Journey Mapping takes all of this complicated information and turns it into something that informs not only the methods through which a business conducts business, but also how a product can be better.

The Dynamics of a Discovery Call

The Dynamics of a Discovery Call: It All Begins with Hello

Discovery calls are an essential part of any entrepreneur’s life. From flooring companies, to financial planners, to paper-sellers, discovery calls are what stands between a company and a potential client–and, oftentimes, a failed discovery call was usually preventable with a couple of conversational tweaks. 

Being able to persuade a prospective client into believing your company holds the solutions for their problems is a skill honed over time through experience and practice. However, in the business world time equals cash, so I’ve dissected the ins and outs of the perfect discovery call so you can stop making mistakes and start making money.

Before You Pick Up The Phone

The title of this blog post is a little misleading–it doesn’t begin with a hello, it begins with research. Before you even get on the horn with your potential client conduct a google search into their online presence. See what you can dig up about their company and any potential issues that your products and services may be able to solve. 

By conducting this initial research, and then using it to inform your conversation you’re accomplishing two things:

  • Proving to the client you care.
  • Establishing yourself as a meritable partner. 

Before your call outline pertinent info for you to mention during your conversation, and leave room to write down more notes as they come up.

ACE Your Opener

After saying hello, follow these steps to show your client that this conversation is about them:

  • A: state to the customer that you appreciate them taking the time to speak with you
  • C: check that the allotted time you had scheduled still works for them
  • E: establish an end goal for the discovery call 

This opener allows the customer to feel in control and communicates to them that they’re not just going to hear another sales pitch–this conversation will suss out if you two are a match for each other. 

Establish the Reasons Behind your Call

Next, you should discuss with your client what they want to get out of today’s meeting–and make sure to write down and address their top priorities before the end of the call.

Discuss your clients goals for their company and if they don’t have any, create some with them! Ask where they want their company to be in five years, then ten, and have a conversation about how your product or service can help them get there. 

Have a Conversation with Active Listening

The biggest mistake people make during a sales call is making it a sales call. The best calls are when you’re mostly asking questions and listening to the answers. Some great questions to ask include ones about their situation, identifying any pain points, and discussing what they would like your impact to be. 

Remember to summarize their answers before moving forward and remember that the call is not about you–the client should already know about you and your services. This call is meant to help you get to know the client and then discuss how your solutions can help them. 

Wrapping Up the Phone Call

When you’re ready to wrap up the conversation, this is a good time to highlight any potential solutions you’ve come up with throughout the call. You can make references to other cases you’ve worked on, since having worked with their peers is a great way to establish their merit. 

Being able to persuade a prospective client into believing your company holds the solutions for their problems is a skill honed over time through experience and practice. However, in the business world time equals cash– utilize these tips so you can stop making mistakes and start making money.

The Dynamics of a Discovery Call
The Basics of Business Operations

The Basics of Business Operations

So, you’ve made the leap to start your own business. Congratulations! Or maybe you’re an established business owner looking to scale your company and unleash its true potential. Either way, you need a solid plan. By defining your business operations strategy, you can ensure that your company runs smoothly and set yourself up for success.

What Are Business Operations?

Business operations clearly define everything that your organization does, how it functions, and how it generates revenue. It measures inputs and outputs to determine the efficiency of your business functions. Without a distinct business operations model, you not only miss out on tangible metrics reporting your business’ productivity, but it’s very challenging to grow your company.

The Foundational Elements of Business Operations

Although your specific business operations will vary based on your industry and organization type, they will always include a few basic elements:

Your Systems

Your business systems refer to the processes you use to perform anything business-related. That means product manufacturing or production, equipment maintenance, service execution, sales processes, payroll system, among others. Don’t forget that people are part of your business system.

Ensuring that you have a solid hiring and staff training system will provide you with a foundation for a successful team. By maximizing the efficiency of your business systems, you can make your business as productive as possible.

Your Team

Your team members contribute significantly to your business’ productivity- and it’s not just who you hire but how you manage them. Business operations strategies allow you to clearly assign roles and responsibilities to maximize efficiency within your workforce. But, unfortunately, underperforming team members could be keeping your business from thriving. You can use these signs to help identify employees that might need some extra guidance or correction.

Your Finances

Managing your financials is key to a thriving business. Through your business operations plan, you can keep organized financial records, track day-to-day transactions, define your business’ financial position at regular intervals, and ultimately avoid financial issues. Be sure to enlist the help of a trusted financial professional to keep your monetary management aligned with your business operations strategy.

Your Marketing

What is the most powerful way to make your professionally managed business more profitable? Get your name out there! Through strategic marketing efforts, you will build brand awareness, generate leads, and successfully convert those leads to paying customers. As part of your customized business operations, a marketing specialist will define your ideal audience to optimize your marketing strategy.

Transform Your Business with Innovative Business Operations

Even with an established business operations system, your business’ success isn’t necessarily guaranteed. Therefore, it’s important to consistently reassess the performance of your business operations to ensure that they are optimized for this ever-changing market. If you are ready to leverage your business’ potential, find out how our data-driven business operations models can get you results.

Drive more traffic

4 Ways To Use Digital Marketing To Drive More Traffic To Your Site

Whether you’re a CEO, a micropreneur, or a business owner, you’ll know that your website can be a profit generating machine. 

But, without traffic, your site is, ultimately, useless. 

That’s where digital marketing techniques come into play. It’s important to know that each of the five tools listed in this post need a solid strategy behind them along with consistency. 

Keep in mind: It takes a while to start seeing results, but once the strategy is functioning, it’s well worth the wait. 

4 Ways To Use Digital Marketing

1. Social Media Marketing

You don’t need to run ads 24/7. When you’re using social media strategically, you can boost your organic traffic without having to spend a dime. 

Think carefully about the social channel you want to focus on. This is reliant on your brand and your target audience.  

For example, a younger demographic may spend most of their time on Instagram or Tik Tok. But, a slightly older demographic will be more active on Facebook. 

Make sure your website is clearly displayed in your social media bio. End your posts with a strong call to action, telling viewers to visit your website. Whether that’s to sign up for your latest freebie, check out your newest post, or any other benefit, clearly sign posting the next destination is important to drive more traffic to your site. 

2. Blog Posts ‘

Running a blog is a popular digital marketing strategy. Even big brands like American Express, Sony, and Google all reap the benefits of running a blog as a business. 

Publishing content consistently – whether that’s once per week or five times per week – is important. 

And it’s not about just publishing random content.

You need to do your market research and dive deep into the searches your demographic are looking for. 

Make sure all of your blog posts are well optimized for SEO (search engine optimization), and you’ll see your traffic increase over time. 

The best thing about blog posts is that one article can continue producing a steady flow of traffic over time. It’s a strategy that takes investment of your time, efforts, and, sometimes, money, but it’s well worth it when you check your Google Analytics and see the sharp incline of traffic. 

3. Guest Posting 

Guest posting is a fantastic way to drive more traffic to your page. 

It takes skill and effort, but after posting on blog pages within your industry and leaving a clear link to your own site, you’ll gain the traffic and views of their posts.  

There’s also the benefit of establishing yourself as an expert in your field. 

Be wary of the sites you choose to publish material on. When Google can see that your site is valued by a leading website within the industry, with a solid SEO strategy, they’ll see your website as trustworthy. That’s then rewarded by bumping you up in the search results page. 

Which leads us onto…

4. Implement A Solid SEO Strategy 

Just like we spoke about a few minutes ago, publishing consistent content isn’t enough. 

You could publish the best content in the world, but if no one sees it, it’s pretty redundant. 

So, implementing a strong SEO strategy is crucial if you want to drive more traffic to your site.

Blog posts work brilliantly to prove to Google that your site is trustworthy, but every article needs to be optimized for search engines and crawlers. 

Do your keyword and market research and use this to shape your SEO strategy. 

Start Driving Traffic To Your Site Today With Digital Marketing Tactics 

These four strategies, if implemented properly, can take your website from tumbleweeds to a New Year’s Eve fireworks display. 

When all’s said and done, there’s no point in having a beautifully crafted site if nobody sees it. 

So, start strategizing. Explore the wonders of social media, blogging, guest posting and SEO, and watch your traffic soar. 

Need help with your digital marketing Allison Todd provides options for all your digital marketing needs click on this to find out more:

4 Ways To Use Digital Marketing To Drive More Traffic To Your Site
Call to Action

Your Call to Action Doesn’t Have to be Creative, but it Should be Creative

“Click here.”

“Contact us.”

“Submit now.”

Do any of these messages make you feel something? Didn’t think so. To convert leads to customers, your readers have to feel inspired to take the action you want them to. Your concluding call to arms should prompt them to click there without simply using the lonely, stale phrase, “click here.” On the flip side, if your CTA is too unique, it could leave your leads confused and hinder them from performing. So, how do you craft a persuasive call to action without being too out there? Keep reading to learn the simple elements you need to create a fire call to action today.

What is a CTA?

Your CTA, or call to action, is a statement used to prompt your audience to complete whatever action you want them to take. Based on your specific business goals, you may want them to subscribe to your newsletter, complete a purchase, contact you for more information, follow your social media account, among other actions. Your engaging call to action should let your readers know exactly what they should do, how they should do it, and what they’ll get if they act.

Without a call to action, your readers will stay just that—readers. They won’t know that you’d like them to take any specific next step, therefore, they won’t. Implementing strong CTAs within your business message will allow you to build your client base, convert more leads, and generate more revenue.

Components of a Powerful Call to Action

For this marketing strategy to work, your call to action should provoke an immediate response. Use these guidelines to boost your business with a powerful CTA:

Compelling Copy

The words that you use are likely the most critical element in your CTA. Make the statement personal by speaking directly to your reader. Use strong action words like discover, join, start, or reserve. Your copy should be impactful without losing interest or confusing your audience. Be sure to let them know exactly what action they should take and what the outcome will be if they do so. Some of my favorite CTAs are:

  • “Gain instant access to ____.”
  • “Sign up for more.”
  • “Let’s chat and see how we can help you GROW!”

Effective Placement

Where you place your CTA matters. You likely wouldn’t put a CTA at the beginning of a social media post or the top of a webpage. Why? Because the reader hasn’t connected with the content yet. They don’t yet know why taking action will provide them with value.

Engaging Design

Your CTA should be visible and draw the reader’s eye. If your CTA is a button, contrasting colors will help make it pop. Working with written content? Bold your CTA or include some emojis on social media to grab the audience’s attention. 

Convert with a Clear CTA

With an engaging and concise call to action, you can successfully convert those leads to paying clients. Get creative without being too creative. Need help with developing your online CTA? Reach out to learn more about how our digital marketing services can engage your audience and grow your business.

Naming Your Business: Know The Essentials
Team Development_ How Your Team Is Keeping You Broke

Team Development How Your Team Is Keeping You Broke

Your Team Is Keeping You Broke: Tighten Your Team, Bolster Your Bottom Line

You’ve put your heart into your business, and it only makes sense that as a purpose-driven entrepreneur, you put your heart into your team, too. Loyalty and enthusiasm are hard to find, and it can be difficult to recognize when you need to let go of an employee or if the people on your team are coachable. Unfortunately, underperforming team members can force other staff to pick up the slack, and if the entire team is ineffective, that leaves you to bear the burden. To prevent your team from keeping you broke, it’s important to understand how you can optimize your workforce.

4 Team Member Archetypes Keeping You Broke

If you’ve assessed your cash flow and determined that you, as a business owner, are not taking too much from the honey jar, it may be time to look to your team. Although your team members likely aren’t blatantly stealing from you, they could be keeping your business from thriving. By identifying potential points of weakness, you can either help these employees improve their work ethic or ultimately cut them loose.  Keep an eye out for these signs of team members who need some extra guidance or correction:

The Chaotic or Distracted Team Member

If an employee serves as a source of distraction to the entire team, they are likely negatively affecting your bottom line. Distractors may sing out loud with their headphones on or hit reply-all with unnecessary memes. This chaotic teammate may not realize that what they’re doing is intrusive, but others have noticed. And it’s making them cranky. It is your responsibility to approach the distractor for the sake of your team’s sanity and your revenue. 

The Lazy and Nonchalant Employee

The service that an employee provides is of financial value to the business. If a team member is producing mediocre or subpar services, it costs you money. This employee may fail to meet deadlines, call in sick too frequently, or have a poor attitude toward customers. Quickly address these behaviors to ensure other team members don’t follow suit.

The Financially Ambiguous Teammate

A financially ambiguous team member isn’t outwardly stealing from the company, but they are vague regarding business funds. They may not return unused funds left over from a trip or order the most expensive wine when using the company card for a lunch meeting. Financial ambiguity is challenging to catch. Be sure to keep an eye out for your team’s spending habits if they are on the company’s dime.

The Bad Manager

Unfortunately, this category is likely directed toward you, the entrepreneur. You are still a member of the team, and your business decisions significantly impact the business. Be sure to differentiate between personal finances and business-related funds, as this is a problem that most entrepreneurs face. Although you may need to take a salary cut during a slow month, try to avoid giving yourself unnecessary bonuses. This can quickly lead to you and your business going broke.

Teamwork Makes the Dream Work

Although you may care for your team members as if they were family, you must still protect yourself and your business. By identifying these potential weak points in your workforce, you can provide your employees with the coaching they need. If you need support in developing your team, work with me. Reach out to learn how I can optimize your team’s productivity. Interested in reading more about why your team could be keeping you broke? Download the e-book here.