Search Results

Business Consulting – The Business Consultants Role In Team Development

Develop an award winning team using business consulting

This article explains how a business consulting can help develop an effective team.

Having a great team in place is essential to any business. Members of a team need to be able to work and communicate together effectively. No one can create a perfect team overnight, this is something that can take some time. Consultants are often the best people to turn to when team development is needed. Properly trained and motivated workers are key ingredients to a successful team. They can be very effective and beneficial when it comes to a company’s growth. Consulting can help you to find and build this amazing team!

Here is the point: Consulting Firms can come up with ways to get everyone involved and ensure that everyone is doing what they can to be a team player. If a company is having trouble getting a productive team together, a consultant may be called in to assess the situation. They may offer something such as exercises that would allow the team members to become stronger and enable them to work together. If there is an issue between any of the members of the team, the business consulting firm can do what needs to be done to solve the problem. There are exercises that they use that will make them communicate. This will give the consultant a better idea of what the root of the problem is. It is really all about being productive.

If a company does not have a team together that consists of people who are willing to do what it takes to get the job done, the company may fail. A business consulting firm will know how to approach the situation from every angle. It may be hard for the management of the company to address the needs and concerns of each employee. This is mainly due to time restraints. A business consulting firm will be available more and they can speak with the team as a whole as well as speak with each one individually.

Instead of spinning your wheels trying to be the peace maker, hiring a business consulting firm can be the best thing for a company to do. A team that can work together effectively can make a company successful. Look at it like a football team, bad team, no championship! Business Consulting can help you with all these issues and more.

Grow Your Business With a Mastermind Group

When you have a problem or challenge in your business, where do you turn? Who do you trust to be completely honest with you? Who can relate to the experience of being a business owner and give you practical advice?

Our answer is to turn to a Mastermind Group.

Every time either of us mentions being in a Mastermind Group, people always say, “Wow! That sounds neat. What is it? How does it work?”

Quite simply, a Mastermind Group is collaboration between a small group of people who all have the same intention and want to help each other achieve their goals. In our case, as business owners, we want to streamline and grow our businesses. We want to attract more customers, keep up with latest trends, and make more money.

Let’s clarify what a Mastermind Group is:

– A Mastermind Group is a deliberate, long term commitment between like-minded peers who want to achieve similar results.

– It’s a “sacred time and space” to work ON your business. This means no multitasking – it’s letting go of everything else for a little while to focus completely on your business.

– Members of the Mastermind Group share responsibility equally for the continued success and effectiveness of the group.

– There is a commitment of complete confidentiality. It’s a place to be totally honest about what’s really going on in your business – the good, the bad and the ugly.

– Each member of the group has the opportunity to have their business spotlighted in every session.

– A Mastermind Group is a place where mutual respect and camaraderie flourish.

– Group members hold one another accountable for the commitments they’ve made in their businesses.

– It is a brain trust that generates exponential results.

Here’s how all of this translates into real life.

A business owner with two separate entities was struggling to choose where to focus his energy and efforts. There were too many things to do, too many challenges and too many choices – he was overwhelmed, to say the least. His Mastermind Group helped him examine all of his options and challenged him to make a choice. He did. Because of this experience, and the results he achieved, he’s gained a new confidence as well as more success – and tripled his revenues in less than a year.

Here’s the bottom line about Masterminding: It’s about getting stuff done, growing your business and making more money. This kind of transformation only happens when we take the time to work ON our businesses. The beauty of the Mastermind Group is that you’re challenged and supported at the same time. The group doesn’t let you get away with excuses and also encourages and supports you when the responsibilities of being a business owner become intense. Projects that seem like drudgery can become fun and easier to accomplish with the help and support of your Mastermind Group.

The Mastermind Group can help you save as well as make more money. Mastermind Group members share resources, skills and talents. In another case, a Mastermind member was challenged with writing a sales letter. Professional copywriters usually charges $5000 or more for this service. The group helped her complete the sales letter in two hours and the money she saved was reallocated for other business projects.

A Mastermind Group is your chosen family in the business world. These are people who care about and want the best for you and your business. When you choose the right people and share your vision of what you want, you’ll be amazed at what can — and does — happen.

There are various types of mastermind groups. The two main types are: 1) Expert Led – A coach, facilitator, or other expert sets up and leads the group. 2) Peer Led – A group of people come together and the members lead the group.

Ask yourself the following questions – “Would I rather start a group or join a group?”
In starting you own group, you get to create the schedule and choose the members. The advantage of joining a group is that you everything is already set up and you just join the group and start obtaining benefits.

Whether you choose to start a group or join a group, we encourage you to participate in the Mastermind process. Now, more than ever – collaboration is the key to success!

Family Business – Paying Family Members

For most people, taking up employment is a rite of passage as they grow from adolescence to adulthood. Moving directly into a job from school, or taking time out to go to college – or travel perhaps – before embarking on a career, is a well-trodden path that all but the few embrace. It’s a challenging time of life for anyone.

In terms of remuneration, most of us recognise that there is a market rate for the job we decide to go for. Plus or minus a few percentage points, it’s likely that what we achieve – unless there are some unusual factors – is what we expect.

In family businesses, there are other issues to consider, because for anyone deciding to work in the family business, there will be a range of emotions and expectations to get in balance with the real world of business itself.

Deciding on how to pay these new family business members will be a sensitive activity to agree between existing family members already in employment; non-family members working in the business and – just as importantly – those stakeholders in the business who are not involved in the day to day running of it, yet have an interest in the financial outcomes both now – and into the future.

The debate can go back and forth. A family member joining the business with a serious expectation of ‘One day this will all be yours‘ might have lower expectations for the pay they will receive in the short term. This could be a valid reason for underpayment for any family member, who will have more potential return over future years to consider.

On the other hand, it is quite easy to see how family members might sometimes be paid more than they might expect – after all, the business does belong to the family, so why should some of the value not be shared out through salary and other employment based remuneration, such as bonuses.

And in the real world, a family member might well be best served by somehow receiving what an objective observer might suggest would be the market rate for the job. There is much value in this ideal. If an individual were to be treated differently than anyone else, how would that serve them as a developing individual?

By ensuring that processes are in place to support an objective view of remuneration for all employees and where a family member sits within that, might well be the most appropriate way forward.

There are specialists in family business who can help with this objectivity, both because they are outsiders whose only goal is success for the business and future generations and because they can also share experiences other family businesses have gone through to make family member remuneration work.

The key to success in this sensitive area is to create a new generation who respect the values of the family business in respect to fairness and transparency, thus anchoring a strong foundation for the future.