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Simple Steps for Growing Your Business Managing Your Time, People and Resources. The SCORE Foundation would like to thank for showing their support of America’s small businesses by sponsoring this series.
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Simple Steps forGrowing Your Business Managing Your Time, People and Resources
The SCORE Foundation would like to thank for showing their support of America’s small businesses by sponsoring this series. The content provided in the Simple Steps for Growing Your Business materials is intended as a business resource only and does not guarantee a successful outcome when applied to individual business use. To find additional resources on growing your business, visit www.score.org and www.openforum.com
Classroom Safety – Argosy U Emergency Exits Restrooms Please do not wander around the building! You are HERE
Classroom Safety–ComCenter Emergency Exits Restrooms Please do not wander around the building! You are HERE
About SCORE • Successful and experienced business owners and executives acting as volunteers • Free mentoring: • One-on-one • E-mail • Signup on our website – Mentoring Tab • Seminars and workshops • Resources for small business: manasota.score.org Douglas S. Cavanaugh
Assessing Your Business If you have not looked at the SCORE Business Needs Assessment, it is in your packet! It will help you assess the current state of your business in 5 key areas: • Management • Marketing • Sales • Finance • Operations Review with your mentor to help you: Decide what additional workshops to attend Develop a customized business improvement plan
By the End of This Workshop, You Will: • Know how to assess your Human Resource (HR) needs • Have low-cost ideas for training or re-training employees • Learn strategies for motivating employees • Know how to handle problematic employees • Know when to hire outside professionals • Be able to manage your time more effectively – may allow you to defer hiring! • Understand good practices to follow when you need to hire Rafe Totengco
Let’s Get Started Briefly tell us about you: • Your name • Your business . . . your 30 second “elevator” speech! • What you hope to achieve during and after this workshop Katrina Markoff
Assessing Your HR Needs SWOT Analysis • Strengths • Weaknesses • Opportunities • Threats Do you need more resources in the following areas? • Marketing • Sales • Technology • Accounting • Operations • Management • Business intelligence
Assessing Your HR Needs Who should perform the job? • Business owner • Partner • Current employees • Outside resources • Consultants or Contractors • New Employees
Employee Training and Development • Skills Inventory • What skills do your employees have? • What skills do they need for their • current jobs? • What skills do they need in order to grow with your company? • What are they interested in learning? • Exercise 1 – Improve your employee’s skills Theresa Alfaro Daytner
Skills Development – Exercise 1 Exercise 1 10 Minutes Work on 1 or 2 employees 10 Minutes Share your ideas with others
Employee Training and Development Cross-Training Your StaffBenefits: • No outside assistance needed • Do more with less • Enhance employee skills • Uninterrupted workflow • Employees share knowledge Methods: • Rotation • Job shadowing • Group training sessions
Employee Training and Development Outside Employee Enrichment ProgramsWhere to get mentoring, training and education? • Online • Industry/professional associations • Colleges and universities • Adult education/continuing education • Training companies/consultants • Business coaches • State Economic Development Department • Chamber of Commerce • American Express OPEN Forum
Employee Retention • Why Employee Retention Matters • Employees who don’t feel valued may leave as soon as they have a choice • Save money required to re-hire and re-train • Save time recruiting and hiring • Keep skilled workers • Stay competitive • Keep business running smoothly • Continuity of knowledge
Employee Retention Employee Benefits
Attaining Peak Performance Creating a Culture of Accountability
Attaining Peak Performance • Employee Appraisals • No surprises – address issues when they occur • Regular appraisals (quarterly work best, but at least annually) • Objective performance standards • Processes and results • Involve managers • Employee feedback • 360-degree feedback • Pay increases/bonuses John Blancher
Attaining Peak Performance Understanding Employee Peak Performance Potential
Attaining Peak Performance Promotion Policies • Opportunities for promotion • Promoting from within • Clear promotion policies • Non-discrimination • Communicate standards • Consider skills and fit Kris Wittenberg
Attaining Peak Performance Problem Employees • Legal issues (federal and state laws – “at will”) • Grounds for dismissal • Corrective action policy • Verbal warning • Written warning • Written suspension/final written warning • Termination
Attaining Peak Performance Dismissing Employees • Prepare • Document • Include a witness • Be brief but clear • Obtain signatures – release forms, benefits statements • Collect property • Final payout • Communicate to employees and partners that the employee left to pursue other interests
Attaining Peak Performance Handling Employee complaints • What is the complaint or dispute? • Focus on prevention • Create procedures for dispute resolution • Listen and document • Be consistent • Maintain confidentiality • Mediation or outside dispute resolution if needed
Attaining Peak Performance HR Administration Who will handle your company’s HR? • HR manager • Designated employee • HR consultant • Human resources outsourcer (HRO) • Professional employer organization (PEO)
Using Outside Resources Who else do you need on your team? • Accountant and CPA • Attorney • Insurance agent • Consultant(s) • IT services • Marketing and PR • Coaches / mentors • Board of advisors
Using Outside Resources Choosing the Right Vendors • Determine areas of specialization • Business size • Industry • Areas of concern • Find professionals • Referrals from colleagues • Social media • Industry associations • Professional associations • Check references Irene Smalls
Using Outside Resources Questions to Ask Outside Professionals • Small business experience • Industry expertise • Contract/relationship • Non Disclosure Agreements (NDA) • Outcomes expected and return on your investment • Costs and Billing • Specialties / Skills • Availability • References
Strategic and Operational Tasks How is your time currently allocated? Do you spend all your time working on Operational Tasks IN the business? Do you spend any time working ON the business doing Strategic Activities? Can you delegate and / or organize YOUR time better?
Large Business mostly separated Small Business overlap / shared Strategic vs. Operational Tasks Cruise Line Management vs. Ship Captain Analogy Strategic Operational Not performed on ship Performed on ship Advertising Bookings Competition Crew Hiring Customs Destinations Entertainment Booking Menu Planning Port of Calls Safety Ship Registrations Training Accommodations Baggage Handling Crew Evaluations Dining Room Service Evacuation Meal Preparation Navigation Room Service Passenger Safety Passenger Satisfaction Refueling Weather Changes
Strategic (ON the business) Examples • Conceptualize: (Vision) - Product & Service, Customers, Costs, etc. • Organize: (Structure) - Who will do what and when? • Implement: (Process) - Space, Hiring, Professional Support • Motivate: (Commitments) - Clear statements of what needs to be done • Analyze:(Information) - Market Opportunities • Adapt: (Changes For Survival) - Anticipate continual change
Operational (IN the business) Examples Customer Relationships - Products, Services & Support Time Management - Running Business & Fixing Problems Price & Cost Controls - Competition & Supplier / Vendors Employee Relations - Satisfaction & Turnover Record Keeping - Input to Accounting Processes Marketing & Advertising - Prospective Customers
Effective Delegation and Time Management Where Does Your Time Go?Perform a time assessment
Better Balance- Exercise 2 List 5 Strategic things to want to do more and how you will accomplish the change Prioritize 1(now) – 5 (within 6 months) List 5 Operational things to want to do less. . . Prioritize 1(now) – 5 (within 6 months) 10 minutes – 5 minutes to share
Better Balance- Exercise 2 Work for 10 minutes 5 minutes to share
Effective Delegation and Time Management Time Management Tips Find what works for you • Choose organization/scheduling system • Use tech tools • Group tasks • Focus on most profitable tasks • Eliminate unnecessary meetings and processes • Get rest and relaxation • Delegate John Christakos, Maurice Blanks & Charlie Lazor
Effective Delegation and Time Management Delegate to Grow Your BusinessBenefits of Delegation: • Creates culture of accountability • Frees business owner’s time • Employees gain skills/confidence • Business builds strength
Effective Delegation and Time Management 5 Steps to Successful Delegation • Identify key tasks to delegate • Identify employees to take on duties • Train employees • Focus on results • Provide feedback Eleanor Ramos
Hiring Practices If you need more employees!
Assessing Your HR Needs Outside Hiring - Prospect Sources • Employment agencies • Employee referrals • Help-wanted ads – newspapers and / or online (Craigslist) • Your company website • Social networking (LinkedIn special interest groups) • Evaluate cost / effectiveness of the options Dana Flynn and Jasmine Tarkeshi
Hiring Practices Job Analysis Start your hiring decision by writing a job analysis that includes: • Duties • Job goals • Job requirements • Methods and equipment • Experience, skills and traits needed • Compensation
Hiring Practices Full-Time vs. Part-Time Employees
Hiring Practices Temporary Contracted Workers