Hiring the right person is one of the biggest challenges that entrepreneurs face. Most entrepreneurs think that they can do it all and have been doing it all; therefore, they don’t want to relinquish control. Many times entrepreneurs become frustrated because they are stuck in a cycle of not having enough time to do everything and not having enough time to hire someone. In small businesses, every person that you hire has the potential to make a significant difference in the business and they have the potential to generate more money. Yet, every person that is not hired has the potential to cause frustrated and unhappy customers.
Is it really time to hire? Do you have time for your life or are you working yourself to a frazzle? Time is precious and is something that you can’t get back. Are you stuck in survival mode because there isn’t enough time in the day, and therefore, you are merely doing the things that have to be done? When you get stuck in survival mode there is no opportunity for growth, and with no growth you can lose your passion and even go out of business. When your work starts to suffer, it’s time to hire. If you start receiving customer complaints, it’s time to hire. One bad comment can wipe out a hundred good comments. Ask yourself, can you afford to hire, better yet, can you afford not to hire?
If you’ve determined that it is time to hire, now the question is whom do you hire? The key to hiring is clarity. Can someone take something off your plate? What is their job description? What kind of hire do you need to make: part time, full time, or virtual? Virtual assistants have become extremely common, and they can be cost effective. If they already have a defined skill-set, you don’t have to train them. You don’t have to create office space for them, and you only have to pay them for the time they work. When hiring, create the job description that describes who you want, share that with your sphere of influence and you’ll find the right person.
~Chas Wilson: to learn more, visit my weekly podcast CLICK HERE
You can’t crush your competition until you know your competition. You can’t set yourself apart from your competition until you know your why. Why did you choose the business you did? Your why is your unique value proposition, which is the linchpin of your business. It tells your potential clients what problems you solve and what they can gain from you. Your why triggers an emotion in your clients that compels them to do business with you over your competition. Name your why and claim it. Write a mission statement that explains your why, and then compare your why to your competitor’s. Do you stand out?
To insure that you stand out, write your unique value proposition. First articulate why you are in business with a Mission Statement and then identify the people that your product is BEST suited for. They are your best clients and they will be your advocates. By narrowing your target audience, you are able to identify the key benefits for that particular group, which will, ultimately, yield more business than you would have by trying to appeal to the masses. Be honest with your target audience and inform them of what your product or service will DO and what it does NOT DO. You do not want to lose your credibility and send your clients running into your competitor’s arms.
Draft, test and compare your unique value proposition. Once you have settled on a simple concept, broadcast it everywhere especially to your Master Networks chapter members.
~Chas Wilson: to learn more, come to Connect 2017 - April 28th & 29th in Dallas Click here for more info.
As an entrepreneur, you have the capacity to create your own business culture, whereas, those employed by others must learn the culture that already exists, and how best to navigate it. As we all know, some cultures can be extremely difficult, if not impossible to change. As the leader of your company, each new person you bring in has an impact on your company culture, so finding people that reflect the culture you want within your business is crucial.
The most powerful voice you will ever hear is YOUR voice; yet it can sometimes be the most negative. Therefore, it is important to add advisors who will have a positive effect on the culture of your business and eliminate people that have a negative effect. It is said that we reflect the top five people with whom we spend the most time. So be honest with yourself; ask yourself the hard questions to be sure you have the right mix of key people. Who are you surrounding yourself with? Are they influencing you? Are they lifting you up or bringing you down? Are they givers or takers? Are they energizers or energy drainers? Do they reflect the type of attitude you want to have? Do they think in step with your goals? Do they conduct themselves in a way that supports you and you company culture?
You are going to want people on your board of advisors that are knowledgeable about your business and can offer creative insight. It is always healthy to examine your organization and processes to uncover those things that aren’t working and brainstorm solutions together. You will want people who are open and honest, who ask the hard questions and share their experiences; this communication is critical to the health of your business. Ultimately, you'll want people who will hold you accountable and empower you. With the right people in place on your board of advisors you will be best positioned to achieve success.
~Chas Wilson: to learn more about listening to yourself and your board of advisors, come to Connect 2017 - April 28th & 29th in Dallas Click Here for more info
Moving from being an employee to an entrepreneur can seem difficult, however, changing your mindset is the key. You have to take ownership and own your business. What are you focused on? Is it positive or negative? Are you focused on the here-and-now or are you stuck trying to run your business in the past with the mindset of an employee? Attitude is everything and it is a choice. How will you make the choice to have a positive attitude?
In the mindset of an entrepreneur, you have to embrace freedom and have a deep respect for it. Through self-determination and assertiveness, you will be able to identify and reach your goals. It is crucial to have positive people in your inner circle that will hold you accountable to reaching your goals, as well as collaborate with you. Don’t be afraid to challenge yourself. Successful entrepreneurs are focused on the outcome of their goals and they take action to achieve them. If they fall, they get back up. They know that mistakes are essential in order to learn. You cannot become an expert overnight and you acquire your expertise through learned experiences. Knowledge is power and it will propel you into the mindset of an entrepreneur.
~Chas Wilson: to learn more about the Entrepreneurial Mindset, come to Connect 2017 - April 28th & 29th in Dallas Click Here for more info
Being a pioneer is the heartbeat of a successful entrepreneur. A pioneer sees what is possible even though it doesn’t exist, and then they have the courage to create it. Pioneers are learning-based people and they will soar to the top. Ignorance-based people don’t, while they can be smart, they know what they know but ignore everything else. Pioneers aren’t afraid to do the things others are afraid to do. They don’t just have ideas; they take action and implement their ideas. Inconvenience and discomfort are two of the biggest obstacles of implementation, but they are crucial to success and generating business. A mere 30% of your time should be dedicated to generating leads. Ideally you want to serve more people in less time.
Corporate businesses focus on branding to generate new business; however, branding doesn’t yield the same success on the local level. People do business with people they know, people they like and people they trust. Trust should be the core of service-oriented businesses. Once people trust you, they will respect you because of your track record. People also do business with people they are referred too. Referrals are viral marketing, word of mouth, and it is the most cost effective business practice. You want people to think of you and recommend you. You want a core of advocates that are marketing for you, and you do that by networking and building a database.
Your database is the engine for your business. The Relationship Development System (RDS) is more than a database; it is what allows you to develop relationships that empower you and your business. Next to you, the RDS is the most important asset in your business. Commit to building an effective database, by using adequate software like Next Level Suite. Then hire a database manager, someone who will input into your database. To grow the database, identify people you want in your database. Capture and input the personal information of everyone you know. Then categorize your database by their connection to you. Communicate with your database frequently, but make your communication brief. As you communicate build an area of expertise and share success stories and testimonials.
Your business is your database. Build your business as you build relationships in the community.
~Chas Wilson: to learn more, come to Connect 2017 - April 28th & 29th in Dallas Click Here for more info
If you fancy yourself as a leader and there is no one following you, then you’re just out for a walk. A leader has people behind them asking where they are going. Leadership is the act of effectively directing people. The true nature of leadership is service. In a leadership role, the first thing you ask is how can I help? Never ask someone to do something that you wouldn’t do yourself. Ultimately, effective leaders develop other leaders, which is the law of succession.
There is an art to leadership and leaders exhibit certain traits and skills. Leaders are credible and don’t live in fear of the past. Credible leaders have goals and plans. They are also intuitive because they can make assessments about situations and are able to see where it is going. Then they have the ability to easily adapt without cowering to change. Intuitive leaders take nothing for granted and make the most of their assets.
Leaders have a specific purpose and role for everyone on their team. They also have clarity; they know where they are going and how to adequately communicate their vision to their people. Leaders maintain an open system and allow their followers to give input and feedback. In the midst of chaos, true leaders are steady and calm; they know how to simply be still and find their purpose. They are confident and aren’t afraid to face reality. Great leaders are also competent and know their business; they have set budgets, schedules and deadlines and know how to adhere to them. Finally, a leader worth following has conviction; they stand for what is right. These skills and traits can be learned. If being a leader doesn’t come naturally to you, you still have the capability to learn how to be an effective leader.
~Chas Wilson: to meet other leaders come to Connect 2017 - April 28th & 29th in Dallas Click Here for more info
Profit is no more the purpose of your business, than eating is the purpose of life. You need profit for your business to survive, but it isn’t your purpose. Your purpose is your why, what drives and motivates you. It keeps you in business, and once you know your why, then you can figure out your how. How will you yield profits and stay in business. When you look at statistics of small businesses, you will find that 91% make less than $250,000 a year, 76% will break-even or lose money, and 80% will fail within the first 18 months. The odds aren’t in your favor. Therefore, finding your why is crucial to the health of your business.
Increase the health of your business by learning, the Rules of Money and Business and Personal Financial Concepts of Money
These practices and concepts will allow you to turn your profits into predictable profits and increase the health of your business.
~Chas Wilson: If you want to learn more about increasing your profits, come to Connect 2017 - April 28th & 29th in Dallas Click Here for more info
The only way to get to the next level when growing your business is to build a team. As you build a successful team of vendors, contractors and employees, it is essential for you to know your strengths and weaknesses, as well as, those in your team so that you can insure that everyone fits into their defined role seamlessly. I often equate building a team to driving a bus. You wouldn’t want the driver of your bus sitting in the back seat, would you? No, you would want them at the front of the bus steering it. Everyone on your team has a special skill set; use them where they are most beneficial to the team. Look for talent that can fulfill those positions so that you can build a positive culture within your business.
Ronald Reagan once stated, “Surround yourself with the best people you can find, delegate authority, and don’t interfere as long as the policy you’ve decided upon is being carried out.” Surrounding yourself with the best people is something many entrepreneurs struggle with. They have the mentality that they can do it all by themselves and that it is more cost effective to do it alone. Don’t be afraid to fire yourself and build a team. When hiring, know that the best people aren’t always people like you. Why do you need someone just like you? You are already on the team. Finding the right person can save you time and money, and hiring the wrong person can cost you anywhere from thousands to hundreds of thousands of dollars a year.
To ensure that you hire right, use an assessment tools (aptitude, skills, or personality test). These are vital to growing your business. If you use an assessment tool to help you hire, you must make sure that it has no adverse impact, meaning there is statistical evidence that the tool doesn’t discriminate on any level. Make sure that your assessment tool consistently measures what you want it to measure (intelligence, behavior, motives, etc.). The reliability and validity of the tool will help you avoid hiring a mismatch. Integrate your assessment into a structured interview for best results.
There is no time like the present! Start hiring the right person, right now!
~Chas Wilson: If you want to learn more about building your business through relationships, come to Connect 2017 - April 28th & 29th in Dallas Click Here for more info
There are thousands of different businesses and brands crowding the market. Finding a way to make your brand stand out is one of the biggest obstacles you will have as an entrepreneur. The key to finding success for your brand is to find a way to creatively grow your brand without spending money, and the local news is still one of the best ways to get your brand free publicity. Since getting your story on the news can be another obstacle, here are three components to a good news story:
You have the topic, the expert and the right people; yet, you don’t know what to do with it. You can find a journalist or reporter that will be interested in your story by reading the bio section on the local news websites or by using the website Muck Rack. Muck Rack links your story to the various reporters that might be interested in it. Timing is also crucial in finding the right person. Morning reports usually run fluffy pieces, midday reporters run feature stories, and the ten o’clock news is usually breaking news. Knowing your audience will help yield success when pitching your story.
~ Chas Wilson, To Learn More Come to Master Networks CONNECT2017
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We all learn to master certain things. As entrepreneurs, it is easy for us to work or be available 24/7, and ultimately time and work begins controlling our life. We all have the same amount of time in our day; it’s how we use our time that matters. We need to learn how to master making time work for us.
Calendaring or scheduling creates efficiency and rhythm in your business. Calendaring is more than scheduling specific appointments; it is learning to schedule everything that matters. This allows you to get things done without distractions. As humans, we naturally have more energy in the morning; therefore, we need to be proactive during the day and begin the day with the end in mind.
Blocking your time is powerful. The first things you should calendar are your vacations and free time. Then block time for yourself in the morning because this will energize and keep you motivated throughout the day. It is also crucial to leave empty blocks of time; this will allow you to take care of things that suddenly come up. Finally, don’t over-block your time. Over-blocking your time will leave you stressed. By implementing calendaring and time blocking in your work-day, you are taking charge of your time and making time work for you.
~ Chas Wilson, To Learn More Read Five+One: The Entrepreneurs Formula for Success - Available here
Chas is President and Co-Founder of Master Networks Inc. He is known for his entrepreneurial spirit and out of the box thinking.