 AI Image Summary: Learn why adopting a money mindset is a game-changer for entrepreneurs, how to plan with clarity and launch with financial confidence, especially for home-based businesses.
Did you know that nearly half (42 %) of small business owners admit they had limited or no financial literacy before launching their venture? That’s not just a number—it’s a wake-up call that how you think about money before you start can make or break the business you're building QuickBooks. As Orison Swett Marden wisely put it, “The golden opportunity you are seeking is in yourself. It is not in your environment… it is in yourself alone.” Wikipedia With that in mind, let’s explore how developing a money mindset—confident, strategic, and growth-focused—can strengthen your business planning from uncertain to solid. 1. Why a Money Mindset Is Essential Financial literacy isn’t just “nice to have”—it’s essential for your business. Low financial know-how can cost entrepreneurs an average of $118,121 in lost profits; nearly half have lost at least $10,000, and some as much as $500,000 or more QuickBooks. Simply put, mastering money early protects your dreams and your financial well-being. 2. Cultivating the Right Mindset A money mindset is built on clarity, intention, and self-confidence. Marden’s insight—that opportunity begins within—reminds us that our internal beliefs and habits significantly influence our financial reality. When you combine that with consistent financial education, planning, and tracking, you start to think in terms of growth, resilience, and strategic decision-making. 3. The Process: Plan with Financial Intent Start with a business plan: A formal business plan isn’t just for investors—it’s your financial roadmap. It outlines goals, tactics, timing, and projections, helping you forecast costs and assess viability. See “Your Business Planning Workbook” in the FM Storefront Budget, project, revise: Create a realistic budget and cash flow model, then review it regularly to stay on course—and adjust when necessary. Seek expert Advice: Working with accountants or financial advisers can significantly improve your results. For instance, businesses that consulted external advisers experienced up to 11.5 % higher annual sales, while also saving time and reducing stress The Times. 4. How to Launch with Confidence and Financial Strategy Bootstrap wisely: Many businesses start with limited or no funding. Using creative financing options (like crowdfunding, grants, personal savings, and low-cost, home-based operations—such as online freelancing or tutoring) can be effective launching points, according to Investopedia. Start small, plan big: Even lean startups benefit from financial foresight. From forecasting invoicing and expenses to setting milestones, a money-minded approach ensures you grow intentionally and sustainably. Track everything: Use budgeting software, dashboards, and regular check-ins to monitor cash flow, revenue, and expenses. Staying financially literate and actively engaged helps protect you from financial surprises. Applications for At-Home Entrepreneurs Working from home doesn’t mean winging it without numbers. Whether you're freelancing, consulting, crafting, or tutoring, the money mindset still applies: Low overhead? Low risk—but still plan: Even if you're only paying for internet and materials, outline expected costs and earnings, and set aside a buffer for surprises. Use free tools: There are many excellent, cost-free accounting and budgeting tools specifically designed for small or home-based businesses. Combine that with regular tracking to maintain clarity. Leverage flexibility: Homeworkers can adapt quickly. If a revenue stream isn’t profitable, maintaining a money mindset helps you identify it early and adjust before it erodes your margins. Know your goals: Whether you're aiming for supplemental income or planning to scale eventually, maintaining a money mindset keeps your vision aligned with your spending and revenue habits. Conclusion & Call to Action Developing a money mindset is more than just understanding spreadsheets—it’s about shifting from a reactive to a proactive attitude. You’re not simply “winging it” financially; you’re intentionally planning, learning, seeking support, and guiding your finances with purpose. Now, it’s your turn: Create a basic financial overview of your business idea—estimate your costs, revenue, and savings. Then take one small step: develop a simple budget, set up meetings with a financial expert, or check out free financial tools. Every step builds your confidence and gets you ready for growth. Thank you for reading. Continue becoming the best you can be while searching for your true self. Richard Resources for this article from the FM Storefront Your Business Planning Workbook Solopreneur Success So You Want To Start A Business
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 AI Created Image Success isn’t about doing more—it’s about aligning your efforts with what truly matters.
For decades, the story of entrepreneurship has revolved around one powerful word: hustle. The hustle narrative celebrates sleepless nights, busy schedules, and constant activity as the cost of success. “Rise and grind” has become both a motto and a mark of pride in business circles. But here’s the hard truth: growing your business is not about hustling harder. In fact, relying too much on hustle can actually hinder growth instead of supporting it. Sustainable business growth needs something deeper—clarity, focus, and alignment with what truly matters. Hustle might get you started, but it won’t take you where you want to go. The Problem with the Hustle Mentality The hustle culture equates being busy with making progress, but they aren’t the same thing. Filling every hour of your day with tasks doesn’t mean your business is actually moving forward. In fact, relentless hustle often creates a false sense of progress while quietly draining your energy, health, and relationships. Many entrepreneurs burn out not because their ideas lack potential, but because they mistake constant activity for genuine growth. They keep running faster on the treadmill without realizing they aren’t getting any closer to their goals. Productivity expert Greg McKeown, in his book Essentialism, states it clearly: “If you don’t prioritize your life, someone else will.” When hustle becomes your only strategy, you let urgency take over importance, and your business ends up controlling you instead of the other way around. Redefining What Growth Means So if hustle isn’t the answer, what is? It starts with rethinking what “growth” truly means for your business. For some, growth is purely financial—higher revenue, bigger margins, more sales. But true growth goes beyond just the numbers. It means: Sustainability: A business that doesn’t fall apart when you step away for a week. Balance: The ability to serve customers while still taking care of your health, family, and personal well-being. Purpose: Have a clear understanding of why you’re building what you’re building so that every action contributes to something larger than yourself. Resilience: The ability to handle challenges without falling apart under stress. When growth is based on these qualities, it focuses less on speed and more on direction. It moves from “How much can I do today?” to “Am I heading toward the future I want to create?” What Works Better Than Hustle Here are four practices that foster real, sustainable growth without burning you out: 1. Strategic Focus Hustle often tempts us to say “yes” to every opportunity, believing that doing more equals better results. But successful businesses are built on clarity, not clutter. Instead of spreading your attention across numerous initiatives, identify the few priorities that genuinely make a difference. Then commit to excelling at those. Focus acts as a force multiplier. When you direct energy in one way, you create momentum that hustle alone can’t match. 2. Systems and Delegation Many entrepreneurs fall into the trap of thinking they must do everything on their own. Hustlers wear busyness like armor, believing no one else can match their pace or quality. The reality? A smart system or a capable teammate often delivers better results with less effort. Delegating isn’t a sign of weakness—it’s a leadership move. By empowering others, you allow yourself to focus on vision, strategy, and innovation, which are the key drivers of growth. 3. Energy Management You are your business’s most valuable asset. Like any asset, you need care and renewal. Hustle often overlooks this fact, pushing through fatigue in the name of productivity. But research shows: sleep, exercise, mindfulness, and rest aren’t luxuries—they’re essential for peak performance. A well-rested entrepreneur spots opportunities, solves problems creatively, and makes better decisions. In contrast, an exhausted hustler misses cues, reacts impulsively, and risks costly mistakes. 4. Long-Term Thinking Hustle chases short-term wins. Growth needs patience and vision. Instead of focusing on quick gains, sustainable businesses put effort into relationships, brand reputation, and trust. These take more time to develop but grow in value over time. Think of growth like planting an orchard. Hustle aggressively pushes to plant as many seeds as possible. Intentional growth nurtures the soil, waters consistently, and patiently waits for the roots to settle in. Over time, the orchard not only flourishes but continues producing fruit year after year. What Success Without Hustle Looks Like The world’s most successful entrepreneurs aren’t always the busiest—they’re the most intentional. They realize that success isn't about staying constantly busy but about channeling energy effectively. Think of a marathon runner. A sprinter’s burst of energy might look impressive at the beginning, but it’s not sustainable for 26 miles. The marathoner who paces her/himself, manages their energy, and stays focused on the course is the one who crosses the finish line strong. The same goes for business: if you burn out early, you won’t last long enough to see the rewards. Final Thought The hustle narrative might seem motivating, but it’s ultimately not sustainable. Growing your business isn’t about how many hours you put in or how busy you look. It’s about clarity, strategy, and alignment. It’s about building systems, managing your energy, and making mindful choices that lead to lasting success. Thank you for reading. Continue doing your best as you search for your true self. Richard A companion PLR is found in the FM Storefront: https://bit.ly/4722hE1 By seamlessly integrating business, work, and life, we craft a virtual tapestry of well-being, skill development, business growth, workplace culture, and leadership, helping you become your best self. Note, some links in this video are affiliate links; if you make a purchase, we will earn a commission. We provide FREE weekly learning opportunities for you:
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Note: Script and Image A.I. Assisted  AI Generated In today’s dynamic business environment, setting the right type of goals is essential for achieving alignment, fostering growth, and motivating teams. But organizations don’t all approach goal setting in the same way. Two common strategies are Aspirational Goals and SMART Objectives. These two models serve very different purposes: aspirational goals aim to inspire and align people around a long-term vision, while SMART Objectives concentrate on performance management and short-term results. The most effective organizations know when to use each one or how to combine them. This article includes a case study on how one organization uses aspirational goals to lead its team productively and effectively. WHAT ARE ASPIRATIONAL GOALS? Aspirational goals are long-term, high-level objectives that embody an organization’s vision and values. Unlike targets set for quarterly assessments, aspirational goals are typically evaluated annually or over multi-year spans (1–3 years). These goals are broad, visionary, and sometimes idealistic, serving as a strong cultural guide for the organization. How They Work Aspirational goals are usually linked to a company’s mission and vision, helping teams focus on a larger purpose. Even though they might not have specific short-term metrics, they foster a shared identity, reduce internal silos, and encourage collaboration across departments. Aspirational goals depend heavily on leadership and culture to sustain momentum. Strong leaders are crucial—not to micromanage every step, but to motivate, embody values, and keep everyone focused on the big picture Examples
These goals may not always have clearly defined metrics but are reflected in long-term trends such as employee engagement, brand loyalty, innovation results, or societal impact. Strengths of Aspirational Goals
Weaknesses of Aspirational Goals
The key to overcoming the weaknesses is found in point 2, leadership. Team leaders are crucial for building strong working relationships with their teams. A case in point is an organization described in the Case Study below. WHAT ARE SMART OBJECTIVES? SMART objectives are Specific, Measurable, Achievable, Relevant, and Time-bound. Unlike aspirational goals, SMART Objectives emphasize clarity, structure, and performance. They are used for managing teams, tracking results, and completing projects accurately. SMART objectives are ideal for short-term planning, typically spanning a few weeks to a few months. They help bring discipline and focus on execution, making them a popular tool for managers, team leaders, and individual contributors. How They Work SMART objectives are highly structured and often used in settings like:
Example: A sales team might set a SMART objective:
Strengths of SMART Objectives
Weaknesses of SMART Objectives
WHEN TO USE EACH STRATEGY
HOW TO USE BOTH TOGETHER Aspirational and SMART goals are not either/or—they’re both essential parts of a strong organizational strategy.
Example Integration Aspirational goals set the high-level vision: “Be recognized as the most innovative healthcare company in North America.” “Be the most trusted brand in online education.” SMART goals operationalize that vision into actionable steps: “Launch 3 new digital health products by Q4 with a projected user adoption rate of 25%.” “Increase student retention by 20% over the next 12 months through enhanced mentoring and live Q&A sessions.” This balance enables companies to inspire their people while holding teams accountable for progress. CASE STUDY I have consulted, coached, and worked with an organization for nearly 12 years. It sets ambitious annual aspirational and strategic initiatives through its planning process and holds teams accountable for them. They do not set individual SMART performance objectives. Instead, the leadership team encourages team-based aspirational goals. This approach has resulted over time in consistently high morale—which is measured every two years—overall success in reaching aspirational goals, increased income year-over-year, better collaboration, improved flexibility and creativity, and less bureaucracy. To support its culture, the leadership team sets strong and effective “people-oriented-work-policies”. A challenge arises when someone from a highly bureaucratic organization struggles to integrate. The leadership supports these individuals with encouragement, influence, and engagement. It draws upon structural leadership to develop employees and encourages everyone within the organization to be an everyday leader, regardless of their position. Over time, if an employee or leader has difficulty fitting in, they are encouraged to find a better fit with another organization, and the leadership team facilitates this process while keeping the individual’s dignity intact. CONCLUSION Aspirational and SMART goals are not opposing strategies; they are complementary tools that fit within an organizational culture. Use ASPIRATIONAL goals to foster unity, culture, creativity, flexibility, and long-term vision. Use SMART goals to promote short-term action and task-oriented results. Both should be used if your organization is more bureaucratic and siloed. Use aspirational goals to effect change and motivate effectively. One requires strong leadership, while the other relies more on managerial and tactical skills. Understanding the purpose and limits of each, and how they fit within a culture, helps organizations design goal systems that are both motivating and effective. As the case study shows, those that include aspirational goals and maintain overall team accountability can be both inspiring, productive, and effective. Thank you for reading. Continue becoming the best you can be. Richard. By seamlessly integrating business, work, and life, we craft a virtual tapestry of well-being, skill development, business growth, workplace culture, and leadership, helping you become your best self. Note, some links in this video are affiliate links; if you make a purchase, we will earn a commission. We provide FREE weekly learning opportunities for you:
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 AI Generated "Profit isn't the purpose of a business, but without it, there is no business." – Peter Drucker
In Canada, approximately 60% of small businesses fail within five years, with poor financial planning and cash flow management being one of the leading causes (Innovation, Science and Economic Development Canada, 2023). While passion might fuel the fire of entrepreneurship, it's profit that keeps the lights on. In an age of digital storefronts and virtual workspaces, mastering “profit hacks” — smart, focused strategies that drive income without increasing burnout — is not just a nice-to-have. It’s a business necessity. Today, we’re examining four key strategies to increase your profits, whether you’re running a solo operation from your kitchen table or scaling a growing brand from your laptop. These hacks aren’t fluff — they’re field-tested and crafted to help you retain more of what you earn and build a successful business. 1. Know Your Numbers (and Watch Them Like a Hawk) Before you can hack your profits, you need to know where they’re leaking. Many entrepreneurs operate on hope instead of hard data. Profit isn't just about making more sales; it's about retaining more of what you earn. Why it matters: You can’t improve what you don’t measure. Understanding your profit margins, customer acquisition costs, and recurring expenses can reveal hidden gaps draining your business. The process: Use straightforward tools like QuickBooks, Wave, or even Google Sheets to monitor your income and expenses weekly. Build a habit of reviewing monthly reports. Comprehend your break-even point and focus on high-margin products or services. How to launch: Begin today by examining last month’s numbers. Highlight three key areas: the largest revenue drivers, the biggest expenses, and unexpected cost leaks. You’ll swiftly identify where to focus your efforts and where to make cuts. 2. Increase Prices Strategically Raising prices is the quickest method to boost profits, yet it's the strategy that entrepreneurs dread the most. The truth? People are willing to pay more for perceived value, confidence, and results. Why it matters: If your pricing doesn't reflect the value you provide, you’re not only earning less; you are also serving less effectively. The process: Review your customer results and testimonials. Highlight your unique selling points. Consider implementing a small price increase (5–15%) and track the response. Use value-oriented language to reframe the offer. How to launch: Start with your top-selling offer. Add a bonus, boost the perceived value, and try charging a higher price for a few new customers. Track conversions and gather feedback. 3. Automate Low-Value Tasks to Free Up Profit-Driving Time Time is the most limited resource, yet many entrepreneurs waste it answering emails or designing Canva graphics instead of securing clients or creating offers. Why it matters: Every hour you spend on $10 tasks is an hour not invested in $1,000 activities. The process: List your weekly tasks. Identify any repetitive, administrative, or non-essential items. After that, automate these tasks with tools like Microsoft Outlook, Google Calendar, and AI-based assistants. Delegate what you can. How to launch: Choose one task to automate this week: set up an autoresponder, use AI to draft emails, or outsource design on Fiverr. You’ll instantly regain your time and enhance your earning potential. 4. Upsell and Cross-Sell with Purpose Selling once is good, but selling more to the same customer is better—and much more profitable. According to Marketing Metrics, the probability of selling to an existing customer is 60–70%, compared to 5–20% for newcomers. Why it matters: Repeat customers are less expensive and spend more. Upselling and cross-selling build loyal, high-value buyers. The process: Outline your customer journey. What logical next step or upgrade can you suggest? Use email automation to trigger personalized offers based on past purchases or behaviors. How to launch: Add a simple upsell at checkout or offer a cross-sell in a follow-up email. For example: “Loved our course? Add 1:1 coaching at a discounted rate.” Make it timely, relevant, and easy to accept. APPLICATION FOR AT-HOME ENTREPRENEURS Profit hacks are game-changers for home-based businesses and solopreneurs. With limited time and resources, your ability to increase profits without extending hours is crucial. Whether you're selling handmade products, offering coaching, providing digital downloads, or delivering online services, these strategies can provide you with a competitive edge.
These aren’t just tips — they’re tactics that shift your income ceiling upward, from your living room or laptop. Conclusion and Call to Action Profit hacks aren’t about working harder; they’re about working smarter. When you understand your numbers, increase your value, leverage your time, and serve your customers deeply, profit naturally follows. You deserve a business that not only fulfills you but also funds the life you want. Now’s the time to take action:
Want more resources on scaling your impact and income? Subscribe to our weekly round-up newsletter (write Newsletter in comments below) or Consider our Bizwoli Solution (See Below!). By the way we have turned the statistic around so that 80% of small business succeed after 5 years. Write Bizwoli in the comments for a free consultation. Thriving shouldn’t be optional. Thank you for reading, folks. Continue striving to be the best you can be as you search for your true self. Richard By seamlessly integrating business, work, and life, we create a virtual tapestry of well-being, skill development, business growth, workplace culture, and leadership, enabling you to become your best self. Note, some links in this video are affiliate links; if you make a purchase, we will earn a commission. We provide FREE weekly learning opportunities for you: Mondays: Free Articles are posted on our FontanieMagazine website https://bit.ly/3WKM9QD Podcasts available at 8 AM Central Time on:
Further Resources Available to you: Executive Video Coaching: https://bit.ly/4cnqGDV Bizwoli – Planning and Organizing Your Business: https://bit.ly/3YripHD Affiliate Marketing With Richard: https://bit.ly/3ZqE18D FM Storefront: https://bit.ly/4bNfiBs Facebook: https://bit.ly/3uPyvSa Pinterest: https://bit.ly/3RSWCrk Life’s Dimensions, Instagram: https://bit.ly/3W7zYOM Coaching Opportunity to Gain $10,000 per month: https://bit.ly/3t4cbmO Michael Cheney: Partner and Profit: https://bit.ly/3ZkY3mI Note: Script and Image A.I. Assisted  One of the constant refrains I hear from those starting out in business, whether that is an internet marketing business or a ‘bricks and mortar’ business is, “I lack confidence”.
Let’s explore that because your personal growth and development matter. Confidence, according the Merriam-Webster dictionary is ‘the feeling or belief that one can have faith in or rely on someone or something” and is connected to trust, belief, conviction and reliance. Confidence is not a natural trait. We have to work at it and strengthen it over time. Our confidence, for example in dealing with others is developed through the practice of conversation, such as listening to the flow of a conversation before speaking and preparing questions before entering into a conversation. Fear is another factor when it comes to strengthening confidence. Fear holds people back from a situation and often leads to anxiety, and the anxiety leads to self-doubt and then moves to a lack of confidence. Understanding the causes of the fear and dealing with it provides the assurance that people have nothing to fear “but fear itself” a phrase popularized by Franklin D. Roosevelt. We can also gain a sense of confidence by achieving certain accomplishments, such as meeting goals we have set, and thereby building our belief in our capabilities and competence. Let’s take a look at three broad areas that will help improve confidence: what you can do daily, how you can strengthen your mental muscle and the importance of your spiritual muscle in building confidence. 1. Improve Confidence Daily We can strengthen our confidence by handling the ‘emotional outcome’ we face on a daily basis. How do we do that? By acknowledging our emotions including those we have difficulty with, learning how to speak up for ourselves, limiting self-criticism, and accepting the genuine complements we receive from others. We need to be aware as well, that confidence is not all encompassing. Sometimes it is like being on a roller coaster. We can have confidence in some aspects of our lives yet experience low confidence in others, for instance one can be confident in driving a vehicle but have little confidence in developing a website. When we deal with these ups and downs, we needn’t spend time honing those areas where we are confident but strengthening our weak ones through practice and application. 2. Improve Mental Toughness Another way to improve confidence is by strengthening our mental toughness. We can do this by:
3. Strengthen Spiritual Toughness There is one more way to improve confidence and that is going beyond business, work and life. It is having a sense of confidence in someone beyond ourselves within the elixir of faith and hope. In order to find this type of confidence we go deep within ourselves and discover that we are part of something or someone bigger than ourselves. It is a place where we suspend our ego and touch a bit of the Divine within us. It is through faith and hope that our rush to accomplish is put into perspective; that things outside of our control are actually in control if we listen deeply; that the world is a good place and that we have a place within it to make it better for others and for ourselves as we conduct our business, work and life. In conclusion you can strengthen your confidence by dealing with emotional fallout; discovering what is holding you back from going ahead and overcoming it; strengthening your mental and spiritual muscles by regularly taking stock of where you are at and actualizing the suggestions noted above one at a time on a daily basis. Thank you for reading and please stay safe, keep well, and continue becoming the best version of yourself, Richard Fontanie  We learned last month that another national store, Sears Canada is currently closing dozens of its stores and laying off over 2900 staff across Canada. I'm struck by the number of businesses that were once thriving and are now no more or in the process of massive restructuring.. What happened? The answer is quite simple: The market shifted while the business didn't shift with it. It reminds me of the saying, "if we don't keep up, we will be left behind." Just look at some of the market shifts that have taken place in the past five to seven years:
Businesses of all sizes need to keep their eye on the “shifting winds of change” if they want to survive. They will either have to close, adapt or continually diversify their products and services. Two Important Questions: What is happening in your marketplace that will affect your business? Are you keeping abreast of emerging trends and technologies that will impact your business? Keeping a close eye on future developments may allow you to survive the next shift in your marketplace.. Richard P. Fontanie, MSW, FCMC Up-dated from the archives Fontanie Learning Solutions Image: Clip Art  When sailing we keep an outlook for the changing winds as they may push us off course. This is a good analogy for keeping our eye on the changes that may affect our business strategies. Maybe this is why we refer to identifying the strengths, weaknesses, opportunities and threats (SWOT analysis) affecting our business as an environmental scan.
Completing an environmental scan is nothing other than keeping our eye on the winds of change and adjusting our course accordingly. Like sailing, sometimes there is a major storm which causes a crisis within the business, and like sailing we don't change the initial destination. We may need to sail to another port for safe harbour and when the storm passes or the crisis is resolved we set sail again to our original destination - unless of course there is no longer a business case for that aspect of the business. During the strategic planning process we complete an environmental scan to determine the push and pull of the winds buffering our business. How do we do this? First we don't wait until we have a strategic retreat to complete the scan. Environmental scanning is an ongoing process and we use the strategic retreat to review the information to get a clear sense of what will affect our business in the coming one to five years. And since it is an ongoing process we may be able to avoid a business crisis in advance of it hitting the business. We shift the strategies to meet the winds of change but we don't change the destination barring the exception stated above. This allows us to view our Strategic Plan as a "living document" and we adjust it to meet changes in our marketplace. Here are eight ways to keep an eye on the winds of change within the marketplaces:
The winds of change in the broader market place are outside of our control, but constantly having our antenna up will pay dividends in managing our strategies and will keep our businesses in a constant state of renewal. Up-dated from the Archives of Fontanie Learning Solutions.  Much has been written about Toyota’s approach to Lean Production, Manufacturing companies throughout the world have spent millions of dollars on learning the system. More recently the service industry in health and education are imitating or modifying the practice, with varying degrees of success. Again with a great investment in consulting, training and process improvement measures. But what about small businesses who can't afford such a huge investment? Well, there is a way to become "Lean" without breaking your bank account and without going through all the seemingly complicated consulting and training. The easiest way for a small business to initiate a cost effective "Lean" process is to understand the principles behind Toyota's Lean approach and apply them to the business. Let's break those down into four easy principles that you can begin using today. 1. Create value for customers. The most effective strategy that a small company can have is to focus on the customer. Customers are the lifeblood of any business, without them there is no business. Cost effective and value added services develop customer loyalty and referrals. Review the way you service your customers. Here are several questions to get you started: Are we customer-centric? Do we have a customer service purpose and values statement? Do we provide customer service training that will add value to the way we relate to customers? Do we have reward programs for our customers? Do we invite customers back when we have something new to offer them? Do we periodically follow-up a purchase with a thank you note? Do we make it easy for customers to buy our products? Do we know our customers' wants and needs? When was the last time we sat down and talked to customers? Do we know our regular customers by name? What processes do we have in place to serve customers? Are they cumbersome or are they customer friendly? What do employees say about improving the way we go about serving customers? Are goods placed in easy reach? Are our offices and retail outlets attractive and inviting? How can we reduce and remove "red tape" and replace it with "green tape"? The key to adding value for customers is to keep asking questions that will prompt you and your employees to find answers on how you can consistently deliver customer-centric service. 2. Improve efficiency and eliminate waste that doesn't create value for customers Review the way you do business by pulling apart the processes you have in place. A process is nothing other than a series of steps you take (or procedures you have to achieve something. Clarify what you have in place. Eliminate those that are unnecessary and make those you keep more efficient. Here are some examples: Stop printing out copies of material that you can keep in your virtual filing system (but make sure you have backup copies); send letters and invoices by email; use a simple document scanner to keep virtual copies of material thereby cutting down on hard copy file folders and filing cabinets; reduce the number of meetings or make them more productive; coordinate sales calls to an area rather than driving all over the city; recycle all recyclable waste material; centralize office equipment; reduce the number of interruptions you have in a day; review where you store inventory to make it easier to fulfill orders; keep your inventory current; call customers in advance to confirm appointments and their expectations; develop standard procedure manuals; keep your shop floor and desk free from clutter; make it easy to identify tools by having a visual tool wall and color coded containers for larger tools or small parts. 3. Continuously improve people and products Improve People I often hear employers say "people are our greatest asset," but when I question that statement I find they invest little in providing training for their employees. If people are your greatest asset, then you need to develop a culture where continuous learning is normal and accepted. Consider learning opportunities that will enhance personal and organizational productivity, influencing and building relationships, problem solving, decision making, planning projects, selling goods and services, servicing customers, strengthening teamwork or any other area that is specific to your business. People are genuinely open to learning when given the opportunity, and they think highly of an organization that invests in their on-going development. Individuals who are kept current with new or renewed skills contribute more effectively and work towards improving results. Improve Products Continuously improving and renewing your products or services is critical in today's changing marketplace. I see and hear the catch phrase "new and improved", but sometimes I wonder whether it's just a marketing gimmick so that customers will buy a product that is often on the decline. The phrase is overused as often little is new and even less is improved. It's time we became serious about improving and renewing products. Continuously improving products is all about understanding your customers demand for your goods and services and developing a process to respond to them in a timely fashion. Small businesses can: Keep an eye out for new products that complement and add value to their existing line; remove products that don't sell and add real value to a "renewed" product; market test a new product before launching it to understand how it adds value for customers; visit customers to assess how the goods or services they purchased met their needs and satisfaction; ask customers for suggestions on how you can improve your product or service; send out satisfaction rating forms with space to answer the question 'How can we improve our service or product?"; provide current information to customers that help them with the product or service they purchased from you. Customers need to see and feel that your company is acting on their behalf by providing them with quality products and services they perceive as having real value. They become sceptical when they perceive the only thing that has been renewed is the packaging or the marketing slogan. 4. Live respectful values. Spend considerable time in developing a positive values-based culture. One of the first things I do when I walk into an organization is to take a quick temperature of the culture. I watch how people interact with each other. I look at the "organizational graffiti" on the wall, for instance: are their motivational posters or are negative images lurking in individual offices, at the cooler, or in the photocopy room. I listen to the language and messages that employees, supervisors and customer service representatives use; I observe if people are being told what to do rather than being involved in finding solutions. One can tell a lot about how people live company values in a relatively short time. Whether we agree or not, customers feel this as well, and their first impressions stick. They will walk out of a place of business with that impression and will tell their friends about what they saw, heard and felt. The key in developing a positive values-based culture is to encourage everyone in an organization to act with respect, honesty, integrity, trust and collaboration. Small business owners can clarify their own values with employees, be positive examples, and engage employees in developing a set of values for the business. Once the values are clarified then everyone has a responsibility to hold each other accountable to ensure they are carried out. This is viewed not as a negative or punitive act but one where people are genuinely committed to upholding them. Living respectful values increases employee satisfaction, improves customer service, and strengthens a business's reputation. As an owner of a small business you don't need to get hung up with using the words that explain Toyota's concepts such as Kaizen, Kanban, Mudo-Murii, Gumba. You may want to learn what they mean but use language that your employees and customers understand. Use simple language similar to the four points above and seek solutions to the questions:
Throughout the clarification process be genuine and supportive of employees and always keep your focus on what is in the best interest of your customers. In the end (which is a bit of an oxymoron as there is no end) you will create an on-going process that has invaluable rewards, such as:
A culture focused on continuous learning designed to improve people, processes and products Here are a few more resources for you to check out:
Up-dated from the archives Fontanie Learning Solutions Archives March 2017 Categories All  Each year I look forward to receiving the top 50 and 100 employers list. I receive both the local as well as the top 100 for Canada. My interest for receiving them is somewhat selfish but it is also fuelled with a sense of pride and admiration. Selfish because I primarily want to work with successful companies, pride because many of the companies I have worked with make the top list, and admiration because it takes a concerted effort for companies to reach the top.
Top performing organizations are found across our economic landscape. They come from the private, not-for-profit and cooperative endeavours. All of them mirror attributes that stem from their vision for the future, strong leadership, employee commitment and excellent customer service. When I look closely at them, here is what I find. Top performing companies have longevity. It goes without saying that the passage of time gives them longevity. However it is what they have done during that time that's important. The ability to work through economic swings, changes in the marketplace and crises earns them their stripes. They have been in business usually for over 30 years and many for over 100 years. They grew incrementally, usually from small beginnings to what is now for many a global outreach. The leadership team is clear about the company's vision and mission. More importantly leaders model the company values. They know why they exist and what they deliver and protect the company's image with integrity and sound stewardship. They keep their vision, mission and values in front of their customers through strong branding strategies. If you go into any of the top performing organizations, you can't help but notice their branding power. Their vision, mission and value statements are present for anyone to see. They provide consistent messages to the outside world and often only a word or a phrase or a logo is needed for anyone to recognize the brand. Their leaders and managers "walk the talk" to use an old cliché. The leaders and managers have a strong allegiance to the company and are committed to achieving not only financial gains for their shareholders but to developing an organizational culture where people want to work. They realize that financial gain only comes about by strong team effort built on trust, recognition and just rewards. The leader managers are optimistic about the future, respect their colleagues and employees and reflect the values the company deems important. Top performing companies don't leave things to chance. They develop contingency plans to soften the blow of a crises or to meet changes in the marketplace. They allocate resources to scan the marketplace to ensure their products are relevant and cull those that aren't. They recognize that developing contingency plans to meet changing circumstances is not easy. Sometimes contingency plans call for the need to reduce employees. When Top Performing Organizations are confronted with the people reduction scenario, they do so in the most humane way possible by: searching for all possible ways to retain staff, building in internal on-going career coaching, and calling upon external career transition coaches when necessary. Top performing companies are employee centric. They are concerned about their employees careers, and find ways to continually upgrade employee knowledge and skills. They view learning as an investment in their future and understand that even if the employee leaves the company they will be their ambassador for years to come. By placing emphasis on their employees careers, they know they will benefit in the long term as they will have a natural pool to draw upon when the time comes to find successors for those leaving the company. I also find that they have strong team practices, experiment with differing organizational models to meet new requirements, engage employees in the decision-making process, and promote a pleasing and flexible work environment. They are customer centric. Top performing companies know that the ultimate key to their success is the promotion of customer service next to none. They have a strong customer service strategy that ties in with their overall strategic direction and values. They spend an enormous amount of energy in making sure that their employees understand who their customers are and how to best serve them. They know that a culture built on customer service means that everyone in the business treats everyone else as if they were their customer. Top performing companies work hard at becoming top performers, but they are not perfect. They have issues and problems like any other company. These could include hiring staff in times of a heated economy, continually training employees when the economy is weak, dealing with employees who don't take appropriate responsibility and accountability for their actions, making sure they have an appropriate mix of products and services, or resolving a host of strategic or organizational issues. It's not that they don't have problems, it's how they deal with them that counts. They recognize that they can't take things for granted and rest on past successes but always need to keep going forward with continued discipline and agility. Lessons Learned: When top performing companies begin to lose those attributes which have propelled them to the top, they begin to slide off the list. To keep themselves on the list they keep their leadership team working at peak performance. If businesses want to join this elite group then they need to have in place disciplined leaders who: maintain strategic focus on the changing requirements of their marketplace, commit to the business's vision, mission and values, develop an organizational culture with an engaged workforce, provide top notch customer service, and have the flexibility to meet unforeseen contingencies when they arise. What is encouraging to me is that I find that many successful small businesses have the same attributes as their big brother counterparts, only on a smaller scale. They won't make the top 100 list but they are top performers just the same. To these businesses, I also salute. Author: Richard P. Fontanie MSW, FCMC From the archives of Fontanie Learning Solutions. Image@Royalty-Free/Corbis  There is something about baking cookies that intrigues me. It's not the fact that I enjoy eating them when they come out of the oven but how making cookies is akin to developing a successful businesses. Cookies have a purpose - they are comfort food, and "that is a good thing" as Martha would say. When making them there is a recipe to follow with a set of ingredients- flour, eggs, sugar, and so on. There is a tried and true process for putting them together - put the dry stuff together before mixing with the wet stuff, and then mix in some more dry stuff and put them in the oven for a set time. And it has an outcome that we can measure - there are 12, 24, 48 or 60 baked cookies and they either taste good, are burnt or tasteless. In time we can add new ingredients or change the recipe to make them tastier. Even before making them we may have a dream of "sugar cookies dancing in our head."
So what has baking cookies got to with business? Well successful businesses:
Many business owners have such a good recipe they franchise which is sometimes known as the "cookie cutter" approach to business. They have the recipe book for duplicating their business. So baking cookies is a lot like developing a business. The difference is that we are able to eat our cookies within the hour whereas building a business is an on-going process that may take some time before success is fully realized. That's why I like baking cookies - it gives me a sense of accomplishment and satisfaction in the short term as I help businesses develop their recipe book for the long term. . By the way go to http://www.epicurious.com/recipes/food/views/Chocolate-Orange-Biscotti-108470 for an excellent recipe. As a change-up drop the orange peel and Grand Marnier and add 2 tablespoons of Amaretto. Author: Richard P. Fontanie MSW, FCMC, Updated from the files of Fontanie Learning Solutions. |
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