Rehoboth Business Center

Archive for February, 2010

Staff turnover costs American companies millions of dollars every year. The cost of lost work days, interviewing candidates, reviewing resumes, checking references, filing paperwork and training the new staff member is much more expensive, in most cases, than creating a work environment where staff members are happy and want to stay. If you’re worried about waning staff morale in your company, here are some things you can do to keep employees happy and productive.

Give bonuses. Even a little bonus can mean a lot. Bonuses improve morale and increase productivity. Explore the possibility of different bonus structures including: holiday bonuses, birthday week bonuses, sales bonuses, hire date anniversary bonuses, and education bonuses.

Plan a staff retreat. Time to relax and get to know your colleagues in a social environment improves teamwork and again, productivity. However, many people won’t want to spend a weekend away from their families even if you put them up in a nice hotel. Think one-day staff retreats twice a year. Close the office on a work day and spend the day at a spa, golfing, at a theme park, going to dinner and a movie, hiking, kayaking, or at the zoo.

Pay for education. Most community colleges and computer centers offer relatively inexpensive classes to help people improve computer skills, management and leadership skills, or language skills. If an employee is willing to spend time taking one of these classes, reward him/her by reimbursing part of the tuition or giving them a completion bonus. The desire to increase education and learn new skills is an attribute of a good employee.

Involve their families. An annual holiday party or summer picnic is a great way to bring employees together along with their families. Even a barbeque at the park with a game of softball or water balloons can be a lot of fun. During the holidays, rent an ice skating rink or get everyone together to volunteer at a soup kitchen.
Buy new chairs and keyboard trays. Let your employees know that their comfort and safety is your concern. Most employees won’t spend over $100 on a keyboard tray, but you could. And who wouldn’t appreciate a top-of-the-line ergonomically-correct keyboard tray that adjusts for height and tilt with the touch of a finger? We found great deals at Versa Products

Have casual days. Casual Fridays are nice, but so are special casual days once a month. Let people come into work in jeans and comfortable shoes and they’ll be in a better mood.
Free kraft services. Most employers provide coffee for their staff but the staff end up making it. Bring in healthy snacks once a week like a fruit basket, individual mini salads, or trays of bagels. You can also stock up on Stash or Tazo teas, biscotti, yogurt, granola bars and those 100-calorie bags of chips, cookies, and pretzels. Having lunch delivered once every couple of weeks is also a nice gesture and employees will appreciate the money they save from having to buy lunch out. Another fun event is to have the employees make lunch once a month. Alternate between the men and the women, different divisions of the company, etc. Make sure even upper management gets involved. Staff will learn new recipes and techniques from other employees and they’ll have fun. The rest will enjoy eating!

Flexible schedules. If possible, give staff schedules that accommodate their needs and reduce commute time.
Gym memberships. Paying for their gym memberships or paying a Pilates instructor to come once a week after work is a nice way to encourage employees to stay fit.

Forbes magazine reported that there were 691 billionaires in the world. 1400 people across the world turn into millionaires every day. Want to become one of them? Of course you do. Everyone wants the freedom to do business in the way they choose. There is so much power in running your own business – and having a business that runs itself, which for many people is the ultimate goal.

Making money is not the only goal of becoming an internet millionaire – it’s about freedom. Many people across the world are gifted with experiencing this freedom everyday. How can you become one of these people? What kind of life, and business, do you want to run? Would you like to be able to check your email from your private plane? These are the kinds of goals many people have in mind when they begin to forge ahead with their business ideas. But the truth is that the rich and the successful – the millionaires off and online – have about nine characteristics in common, not that different from a lot of people we all know. Most of them exhibit some or all of these. The truth is that we all have the potential for greatness – if we can train ourselves to keep this in mind as we go about our business day.

1. They don’t blame. Successful businesspeople don’t blame others. Instead of making excuses for bad outcomes, or reassigning responsibility to others, they take time to learn from their own mistakes.

2. They are decisive. Millionaire-types have a vision. They take quick, decisive action aligned with that vision. They’re action oriented, always pushing forward toward their goals.

3. They trust their intuition. If something seems like it’s not quite right, they trust that instinct. If an opportunity excites them and sounds like a great idea, they go for it.

4. They are singly focused on their CORE business. Successful entrepreneurs may be inspired by ideas, but they always remain true to their vision. They focus on opportunities that are aligned with their business’s purpose. If you sell retail products on eBay, don’t try real estate investing the next day. They don’t lose focus. They may sell their products on eBay, write articles, focus on joint ventures, and go to marketing seminars, but all of their efforts, and FOCUS, help them move toward their main goals.

5. They are marketing focused. Millionaires, including such giants as Bill Gates, understand the importance of building on their core business. They hire people with specialties in marketing. They work hard at building their email lists, gaining exposure, and are constantly looking for ways to reaching a wider audience. If you want to build a decent income, you sell products and services. If you want to be insanely rich, then you create and control markets. The key to your business, and creating phenomenal success, is marketing.

6. They understand the importance of continuing education. Successful businesspeople are always learning and drawing from other people’s experiences. They listen to how other people have achieved their success, especially if these people have expertise in another industry. They are constantly learning about new approaches and strategies, and thinking about how they can apply it to their own business.

7. They are not afraid of making mistakes. Any big company online will tell you that they’ve had their share of downfalls, even such giants as eBay or Craig’s List. Mistakes are building blocks for success – by making mistakes, you learn what works, and what doesn’t. You don’t have to get it right, you just have to get it going. We all make mistakes, and one of the most powerful things you can do is glean feedback from them. Feedback is a great way to learn from your customers and colleagues. You need to look at feedback and take it with a grain of salt – it helps you learn and grow. See your mistakes as learning lessons

8. They model their business for success. Internet millionaires model other people, strategies, and systems. They constantly look for models of success in everyday life and think about how to incorporate these lessons into their own strategy. They even look at their competition for answers. Whatever niche you’re in, subscribe to some industry newsletters, buy their products, and learn HOW they create success.

9. They build a team to rely on. No matter what stage you are in with your business, you’ve got to realize that you simply cannot do it all. You can’t be an expert in everything. You want to create a great team of people. How can you find them? Go to seminars and workshops. Hone your networking skills. You’ll often find that like minded people that are out there constantly learning and attending, seminars and workshops. Getting rich is a team sport. You have to have people that are cheering you on, encouraging your success.

These are some inherent characteristics of business millionaires. Can you apply them to your business and your life, too? Of course you can. If you can keep these principles in mind, you’ve got the millionaire mindset. No, you aren’t going to get there overnight. Making a million dollars takes some time. You can’t make a million dollars if you haven’t made your first hundred. So focus on the first hundred, first thousand, and first hundred thousand. Thinking this way goes a long way toward your goals – finding success, gaining riches, and living the kind of life you want to live.