Posts Tagged 'Small Business'

HealthCare – What Small Businesses Can Do

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HealthCare – What Small Businesses Can Do

 

In the midst of the ever-changing healthcare environment I find that small business employers are having a more difficult time keeping standard healthcare plans in place. The definition of a small business employer is 50 employees down to 2 employees. What I have found is that small business employers are continuing to increase deductibles and out-of-pocket costs for their employees. This is all well and good due to the fact that the rising cost of healthcare is something that small business employers cannot afford but keeping strong health plans intact is important.

 

While Health Savings Accounts (HSA) are something the small employer can take into account for their businesses I find that many employers could pay more for an HSA than a standard healthcare plan. The reason is HSA’s can actually end up being more expensive in the long run if their employees happen to have a catastrophic or chronic illness or the premiums are high because the insurance company prices the plan high due to their liability after the deductible is met.

 

I recommend that employers put into place a $1000, $1500 or $2000 deductible with an out of pocket maximum anywhere from $4-$6000 on an in-network basis and keep the office visit and prescription drug co-pays in place.

 

I do like the utilization of a Health Reimbursement Account (HRA) as well. You could implement an HSA or a high deductible plan and put in place an HRA, but I would recommend this only if you have 25 or more employees, otherwise the employer loses money if the HRA is used to often by the employees.

 

Healthcare reform has helped employees recognize the importance of wellness visits by implementing no-copay for wellness visits. Also there are no maximum lifetime limits and the benefit increasing the age for child and military coverage.

 

I do not see that healthcare reform will be the way of the future. Why? Because it takes away the free enterprise of insurance. I say the government needs to back away from the involvement and let the insurance companies do what they do best (but implement further guidance) which is manage healthcare and provide healthcare benefits for the population. This overplay by the government does not lead to a democratic society, it is our responsibility as citizens to manage our own healthcare and to utilize the system that may be slightly broken at this time, but with improvements definitely can be beneficial for the long term. Keep healthcare reform at bay and let free enterprise continue.

 

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Business Administration – The Gatekeeper

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Business Administration – The Gatekeeper

Getting Through the Front Door

 

We are interviewing Patricia Pollmann from Office Max today. Patricia has been an Administrative Professional for more than 40 years. Why? Because she loves it. Her ability to connect with people and establish trust is one-of-a-kind. Over a nice piece of apple pie and many other tasty treats we discussed everything from learning how to type on a manual Royal Typewriter to the power an Administrative Professional has in an organization. Why? Because her job is “The Gatekeeper” both inside and outside the organization. She is the go-to person. If anyone needs something or wants to know something, they know where to go – Pat. But don’t let this fool you. Her job is also to protect. Did you know that the word “secretary” (the outdated term for Administrative Professional) came from “the keeper of secrets”? It is her job to ensure her boss is protected and she will only provide that information necessary for you to get your job done.

 

Pat shared some great insights with her stories:

The Gatekeeper from the Outside

A fellow called the office one day and pretended to be my boss’s best friend. He said “Is Jim in? I’m a good friend of his”. Pat said, “Can I tell him what it’s in regard to?” He said, “No that’s o.k. just put me right through, he’ll know who I am.” We went back and forth until I finally put him on hold and went in and asked my boss if he knew this guy. My boss picked up the phone and said, “If you can’t tell Pat what you want then you sure can’t tell me and hung up.” 

Most of the time the front person controls the boss’s appointment book. He or she has just as much power and, in fact, more over the boss’s appointment book than the boss. If you want to see the boss, you need to treat the front office person like the boss or you will never get in the door.

The Gatekeeper from the Inside

Pat shared another story about inside the office. All communication to her boss from others came through Pat. Her boss let everyone know that if you don’t get the reports in to Pat on time, then you will be speaking to me (and I’m sure you would rather talk with her – she’s nicer than I am) – which was not a good thing. Having a gatekeeper helped enforce the rules and the necessity for timeliness and focused decisions. Everyone in that company knew that their story would not be heard unless Pat screened it. This gave her boss the strategic time he needed to build the company.

 

Pat and I discussed how joining an Association had increased so many of her skills. Pat has been a member of the International Association of Administrative Professionals for almost 25 years. This organization has more than 21,000 members across the world. Pat has served as President of her local chapter for 3 terms and many other positions along the way. Pat mentioned how running an association was like running a business. There are budgets and Parliamentary procedure to learn. In fact, she is one of the few people who have read most of the Robert’s Rules of Order! Through her dealings with the Association she learned fiduciary responsibility and how to effectively manage groups.

 

Pat states, “One of the most important things I have learned, and stand by still today, is to listen and implement new ideas from all members. Even if the idea doesn’t work – so be it. Do not criticize; instead learn from what didn’t work and help build up the person and move forward in recreating the idea. Recognize the person for their hard work and help them create the next great idea.”

 

Just like in running your own business. Always be optimistic and build others up; don’t tear down. You will get much more done in the long run with the same players instead of having to find new ones.

 

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Sales – Selling and Understanding Personalities

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Sales – Selling and Understanding Personalities

Understanding Two of the Important Personalities
You are Selling To

 

While these important players may have different titles or no title at all, it is critical to establish the relationships to solve their issues or problems. This is why you are there.
 

The Driver: The Business Owner or CEO

 

This person is like the lighthouse, guiding their company through the rocky shores of the business world. The Driver wants to know how your solution fits into the big picture of the company. They’ll make their decision based on bullet points of information, so don’t bother them with the details. Usually they’ll have someone else analyze the fine points of your product anyway. When you’re working with the Driver, give them your concept, your value proposition, and why your product or service will alleviate their pain. If you can show the Driver why you can solve their problem, then you’ll have a sale. But that means observing their personality type.

 

If you walk in that door with the wrong approach — say you’re all chatty or making too much small talk about things that have nothing to do with their business or him or her personally, then you might as well stay home. Do your homework before you walk in the door. If you don’t feel that you know what the Driver is looking for, then be prepared to ask high gain questions that will make the difference in your ability to close the deal. These high gain questions will give you the credibility you need to make the sale.

 

The Analytic: CFO, Accountants, Engineers, IT

 

The description alone pretty much explains this person. The Analytic wants all the details. Again, when you walk in the door, no messing around. Of course in all situations you want to develop rapport, but not too much small talk. The Analytic wants to know why you’re there. Can you increase their bottom line? Can you decrease their cost? Do you offer a higher quality product than what they already use? Their job is to analyze all the options, so be prepared and have ALL your facts ready.

 

Your high gain questions may well be the same with any of the personalities, but the difference will be in how you approach each conversation. Like the Driver, the Analytic isn’t one for small talk. You’ll gain immediate credibility by providing a lot of facts, figures and information that isn’t fluff.

 
 
It is critical in sales to understand and study who you are establishing relationships with. This information is all about helping them solve problems whether it is a small business, a corporation, or an entrepreneur just getting started.

 

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Management – Coaching with C.A.R.E.

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Coaching Means C.A.R.E.

Collaborate
Acknowledge
Responsibility
Engage

 

In the Management Arena, my definition of coaching is to help create an environment that will give your employees an opportunity to grow, develop, and pursue new goals. This is accomplished in collaboration with the goals of the organization and setting the level of leadership.
 
The steps in coaching are as follows:

Collaborate:

Coaching means the ability to work together. Instead of telling your employees what to do and how to do it, ask them. The more you involve them in decisions and give them the opportunity to take ownership of the coaching matter, the more success you and your employee will have.

Acknowledge:

If you have a coaching matter, acknowledge it with your employee. Do not scoot it under the rug and hope it goes away. Acknowledge that it exists and help your employee get to the next level in their lives by providing the structure necessary for them to excel.

Responsibility:

As a Manager or employer, it is your responsibility to coach your people to excel in their position. It is your employee’s responsibility to take what you coach and implement it immediately. Ensure timelines are set and goals are achieved that are measurable and achievable.

Engage:

Keep your employees engaged. Coaching is not a one-time event. It is a process that is put into place until it’s completion and new habits are formed. Engage your employees in the process and have fun with it!

 

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Sales | How to Sell… Inside/Out

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YouTube Preview Image

In this video, Holly Katko explains the What, How, and Why of Sales. How taking a
different approach to sales and selling can pay off with this explanation of
sales from the Inside/Out.

 
 

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Sales – Selling with a M.A.P.

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Sales – Selling with a M.A.P.

Sales and Selling

This post is an excerpt from Entrepreneur You using the final letter of the acronym M.A.P. for an explanation of a critical aspect of sales and selling.

Probe

To keep the sales call moving forward, you’ll need to develop a line of questioning. But this isn’t just any type of questioning. This is asking questions that you could not find the answers to on a piece of paper — questions that will help build your relationship and your proposal.

 

At this point, you may feel like you’re ready to jump into closing the sale and to begin providing your services or product to your client but no matter how tempting this may be, you’re not really ready yet! Realize that you still know relatively little about the client, and you need to understand them fully before you can begin to help them. Remember that the point is not to sell to them. You’re there to help them.

 

There are different lines of probing questions you can ask. You might ask simple questions that need only a yes or no response. You might ask questions gleaned from information you found on the client’s website. Or you might choose to ask questions that elicit intelligent, thought provoking answers. We will concentrate on the last group. Now don’t get me wrong, I’m not telling you to sit in this meeting and hound the poor client. There’s nothing I hate more than someone who interrogates me like a private investigator trying to get a murder confession out of me. This will put anyone on the defensive! Instead, I’m talking about developing questions that you can easily ask during the conversation and that allow you to understand the client more clearly.

 

I have developed over 100 questions for each of my product lines. Does that mean I use all of them during a call? What do you think? Of course not! But when you’re in front of someone and you get nervous, having these questions readily available is what will make the difference between you and the competition. The categories and the questions you’ll develop will follow the natural flow of a conversation. Read on to learn more.

 

For further information on the rest of M.A.P. go to Entrepreneur You.

 

This is an excerpt from Entrepreneur You.

 

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Management – The Third of Three Steps to Great Leadership

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There’s a New Sheriff in Town!

Three Steps to becoming a Great Leader:

1. Understand yourself first before you manage others

2. Understand your staff next before you provide direction

3. Understand AND set strong S.M.A.R.T. Goals

STEP THREE - SMART Goals

Specific  Measurable  Attainable  Realistic  Timely

 

Setting goals and expectations for your staff is critical. I recommend using the SMART goal technique to ensure the goals you are setting meet all of the above criteria. Only set 3 goals at a time. Why? Because if you set too many at once – number you won’t be able to keep track of their progress and secondly the employee will feel overwhelmed by trying to achieve too many goals. Set goals and move forward to ensure strong leadership. Goals setting is part of the plan from the moment you become a manager. This will help you and your employees to remain focused and keep the end result in mind at all times.

 

Remember a Leader Inspires, Communicates and Facilitates – be the just right leader and your staff will give you the empowerment and respect you deserve!

 

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What is Sales? Part Three

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Three Areas of Sales to Know – Number Three

When I first started in business I did not look forward to sales at all – I thought sales meant you had to “sell” something to someone. When in actuality it is simply educating someone about a product or service that they didn’t have sufficient if any information on. Once a client understood how this wonderful product or service would benefit them, then they would either choose to use it or not. There are areas of knowledge that make this transition of education easier.

Here is the Third of Three Areas to Know:
Know How to Treat Your Client

Everyone wants to be treated special, so show your prospects that you care. Call them by their first names. Offer a firm handshake. Pay attention to what you see in their office or facility. And above all, let them know that you are there to help them.

Let’s assume you’ve done your homework on both your prospective new client and your competition. You can now use this information to get to the next level. When you contact your new client, you can lead with what you already know about their company and your competition. Explain to your client that you have a solution for them that they might not have thought about. Bring up one of those unique areas about you and your company that you know provides that over-the-top quality, and don’t let it go. Don’t sell, either; the point is to pro- vide information for solutions that solve their problems. If they don’t remember their prior conversation with you, well, make this one memorable. Don’t bother asking if they got your brochure, and don’t belittle yourself by saying that you’re “just checking in.”
 
YOU ARE THERE BECAUSE YOU CAN HELP THEM — SO LET THEM KNOW THAT!

 
These are three of the important areas to focus on in Sales. Do your homework and see the results!
 
These areas and more can be found in my new book Entrepreneur You.
 
In order to start your own business or maintain your current one, sales are critical to your growth and success.

 

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Three Areas to Apply Busi­ness Train­ing to Grow your Company

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1. Man­age­ment

Whether you are just entering your career at the man­age­r­ial level or an expe­ri­enced man­ager, it’s impor­tant to increase your man­age­ment skills and con­sis­tently grow in this area. Man­age­ment begins and ends with peo­ple. That means under­stand­ing the impor­tance of each per­son on your staff and how to increase pro­duc­tiv­ity as well as team­work within each area that you man­age. One of the main rea­sons teams become dys­func­tional is because they for­get their goals. Per­son­al­i­ties and per­sonal agenda’s get in the way. Func­tional man­age­ment means clear goals and a clear path to reach them with. This leads to Excel­lent Management.

2. Inter­nal and Exter­nal Cus­tomer Service

Cus­tomer ser­vice is not a term that is boxed into a depart­ment, but is some­thing that needs to be taught through­out the com­plete orga­ni­za­tion. Cus­tomer Ser­vice is derived from the mis­sion and vision you have set for your com­pany. The words are just words unless you put them into action from the minute one of your employee’s picks up the phone to the time spent in the break room with other employ­ees. The orga­ni­za­tion must live and breathe its mis­sion and vision con­tin­u­ally build­ing on the strength of each indi­vid­ual per­son to build the whole. Cus­tomer ser­vice train­ing should be con­tin­u­ously applied through­out the organization.

3. Under­stand­ing Per­son­al­ity Types

So many times peo­ple do not mesh as a team within an orga­ni­za­tion because they have a dif­fer­ent way of inter­pret­ing the same sub­ject. Real­ize that how we live in this world has been derived from our past expe­ri­ences. The more we live in the past and for­get to open our eyes to the future, the less likely it will be that we grow as indi­vid­u­als. Ide­ally, we want to cre­ate an open envi­ron­ment for oth­ers to learn from us, in addi­tion to cre­at­ing an open envi­ron­ment for us to learn from oth­ers. Teach­ing the impor­tance of this real­ity is crit­i­cal in the growth of the orga­ni­za­tion as well as the per­son. This is where apply­ing busi­ness train­ing objec­tives in this area will move the orga­ni­za­tion in the right direction.

These three areas are crit­i­cal to the suc­cess of the orga­ni­za­tion. These three areas are all within your con­trol by mak­ing the proper deci­sions. These three areas all can be enhanced with spe­cific busi­ness training.
 

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Business: Three Reasons for Strong Policies and Procedures

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Business: Three Reasons for Strong Policies and Procedures

Company Policy

There are three reasons EVERY company needs to build a strong
model for policies and procedures.

 
Why? Three Reasons:
 
1. Your Image is Your Company

Consistency is what builds a strong image. Company policies and company procedures are critical to creating your image.
 

2. You want Consistency in How Every Client both Internally and Externally is Handled

No matter who the client talks to in your company, they will get the same answer.

 
3. If Someone Leaves Your Company – You want the Next Person to Easily Identify How to Manage their New Area

This means following the rule book that has already been established and starting their new position on firm ground.
 
Strong and pertinent policies and procedures can be applied with thorough management and staff training.  After completing training, ongoing management of policies and procedures will ensure old habits are broken and new company approved plans are working and in place.   Continuity means continual business training and evaluation.

 

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