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7 Keys to a Successful Business, pt 5, People Strategy

By
Services for Real Estate Pros with Small Business USA www.SmallBusinessUS.com

Small Business USA membersSmall Business USA (www.SmallBusinessUS.com) talks about 7 specific areas you need to consider in your business process. Here are all seven again:

·       Management Strategy

·       Primary Aim

·       Organizational Strategy

·       Strategic Objectives

·       People Strategy

·       Marketing Strategy

·       Systems Strategy

 

These 7 areas will fine tune your plan for the ultimate level of success. Today we are going to discuss your People Strategy. How you manage and motivate your team has a PROFOUND effect on your business.

You need to put together a people strategy that shows your employees how you feel about their job performance and dedication to your business. They also need to understand “why” they are doing specific tasks. This helps them to personally connect to their job which in turn leads to better production and a happier workplace.

There are a number of strategies you can use to keep it interested at “the office”:

·       Performance Incentive Programs

·       Contests that reward high performance

·       Employee of the Month

·       Performance/Holiday Bonuses 

These are just a few of the ideas you can use. One of the best ways to appreciate your employees is by calling a meeting and asking them how they would like to be rewarded. Think about it for awhile and put the best strategy into play. Keep it fresh and change up the strategy you use from time to time to keep your employees guessing. Once they get used to the prize, it’s time for a whole new approach.

 

You need to build a community within your company. There needs to be support, appreciation and respect. The more “at home” an employee feels, the better they will perform and the higher their level of loyalty.

 

For help answering these questions, feel free to contact us. We'd be happy to help you identify ways to improve your business and plan for your future.

 

Colleen Ferrary is the founder and president of Small Business USA. Small Business USA (www.SmallBusinessUS.com) has successfully driven unparalleled results for business owners throughout the US. While maintaining their mission to keep their services affordable and leveraging a proven marketing program and teams of consultants, Small Business USA is changing the success rate of small businesses. For more information or to set up a free consultation or learn about our affordable marketing workshops, please email Info@SmallBusinessUS.com.

Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Good Morning Colleen Ferray,  Boy more people should be reading your blogs, you are so right with what you are saying.

Mar 17, 2015 11:44 PM
Captain Wayne - Rowlett Real Estate School
Rowlett Real Estate School - Panama City, FL
Rowlett Real Estate School / Owner and Instructor

So very true Colleen, and I try to shape my business up around a model to the liking of the one you describe. Keep up the good work and have a great rest of the day!

Mar 17, 2015 11:50 PM
Raymond E. Camp
Ontario, NY

Good morning Colleen,

Interesting points of managing.

The only one I use is the performance Incentive as the rest may cause animosity and too much time at the jug of water.

"Take care of your employees and they will take care of you!"
Make yourself a great day.

Mar 18, 2015 12:06 AM
Colleen Ferrary
Small Business USA www.SmallBusinessUS.com - New York, NY
Delivering Affordable Success-Critical Tools

Thanks Will Hamm and Captain Wayne Rowlett! I appreciate your comments  and sharing my posts! It makes writinging them definitely worth while!

Raymond E Camp, I agree, incentive based is the most consistent and of course, you need to take care of your team emotionally as well!! 

Years of watching leaders use fun, short term tactics has converted me though. There's no doubt sales contests drive sales.  I don't believe they create sustainable results, but that's why it needs to be done regularly.

The surge that businesses get from that fun intermittent competition is like a fierce tennis match. You work so much harder to crush your competition but have fun doing it, gain bragging rights, and raise your calorie burn far more than you would hitting it against a wall. Your rivalry becomes healthy and you'll probably play that competitor again, however, not everyone is going to be brave enough to face the two of you on the court. I've also noticed breaking the competition into groups helps with the animosity piece. Be sure to create level teams when setting it up. 

A leader's job is to keep your team emotionally balanced. If a competition breaks down your team, I would challenge you to look closer at your team.

Mar 18, 2015 06:15 AM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Colleen. You are so right, if more employers/managers would make their employees shine, there would be so much more productivity. This post should be featured, very valuable.

Mar 18, 2015 08:13 PM
Colleen Ferrary
Small Business USA www.SmallBusinessUS.com - New York, NY
Delivering Affordable Success-Critical Tools

Thanks Joe Petrowsky!!

Mar 25, 2015 11:58 PM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Colleen - this is very important.  You can have everything else but if you don't have the right people truly engaged  you will have a serious drag on the business.

Mar 26, 2015 01:23 AM
Colleen Ferrary
Small Business USA www.SmallBusinessUS.com - New York, NY
Delivering Affordable Success-Critical Tools

Well said Grant Schneider!!

Mar 26, 2015 02:06 AM