Tag: success

Categories
Human Resource

7 Perks That Make Employees Happier Than a Higher Salary

Happy-office-workers

Offering a hefty paycheck is an excellent strategy for companies looking to lure in talent. Unfortunately, entrepreneurs and small business owners don’t always have the funds to pay high enough salaries to attract the employees they’re looking for. So they have to get creative.

When higher pay isn’t an option, companies can offer certain perks that cost little and still make employees happy. Here are some of the most attractive benefits employers can offer in the working sphere.

Pets Allowed at Work

Inviting Fido to work does more than save you money on pet care. Turns out, bringing pets to work reduces employees’ stress levels and boosts job satisfaction. Companies like Amazon and Ben & Jerry’s have implemented pet welcoming policies, reaping the many benefits.

A weeklong study was conducted at Replacements Ltd, a dog-friendly company consisting of about 550 employees. According to head researcher Randolph T. Barker, dogs can be helpful in the workplace: “The differences in perceived stress between days the dog was present and absent were significant. The employees as a whole had higher job satisfaction than industry norms.”

While there are numerous positives of inviting dogs into the office, there are certain setbacks as well. For example, some people fear dogs, others have allergies and you might have to deal with dog waste. Consider your workplace environment before moving forward with a pet policy for your office.

Flexible Hours

A rigid 8 a.m. start time, while somewhat standard in the working world, can seem a bit rigid in today’s landscape. Offering employees a flexible start time, but demanding a full eight hours, leaves individuals feeling more relaxed. According to a discussion paper published by IZA Press, studies show that flexibility in one’s schedule correlated with greater positivity and higher job satisfaction.

A more relaxed approach to scheduling allows employees to feel more in charge of their work time, as if it’s more personalized. The individuals who aren’t fond of mornings will also benefit because they have more time for their brains to warm up for the day ahead.

Finally, offering flexibility allows employees to more easily balance their personal lives with their work. According to an employee at Qualcomm, a company offering flexible hours, “My work hours are flexible, which allows me to work remotely when I get good ideas at odd times of the day.”

Opportunity to Work from Home

Working from home, just like having a lenient start time, allows employees to feel in control; it personalizes the work experience. The same analysis conducted by IZA Press demonstrating the benefits of work flexibility also shows that working from home increases job satisfaction. A survey conducted by Brown University says the same thing: people are happier when they have the option to work from home. Not only are they more content with their jobs, but workers are more productive from home, too.

Companies like Greenrope and Pixelkeet are two of many companies now offering remote working options. According to their employees, working from home limits distractions and allows for necessary midday breaks.

Fun Work Events

Holiday parties, organized 5k races, volunteering sessions – events that allow employees to interact in a setting beyond the conference room increase camaraderie and office morale in general.

Friendships form and co-workers begin to really foster the feeling of being a team, or family, and can increase loyalty to the company. Consider such teambuilding exercises in order to boost job satisfaction within your company.

Fitness Opportunities

A free gym membership, organized in-office exercises or an on-site gym allow employees to better balance physical fitness with their full-time employment. An on-site locker room – equipped with a shower – is another great feature as it gives individuals the chance to exercise during lunch or run or bike to work.

Many companies have added to their comprehensive benefits packages, adding sponsored yoga or Pilates classes during work hours – on the company’s dime. Ryan Pirkle of Gravity Payments takes part in an organized weekly running club; employers can leave work for an hour to run around together. ”We find this helps clear people’s minds, provides a mental break, and increases camaraderie among employees,” Pirkle says.

Free Food

This trick has been used to lure people to parties, lectures and otherwise unappealing gatherings for years. As it turns out, using food as bait can actually lead people into your company, too (or at least make them happier once they are there).

According to a survey conducted by WorkSphere, feeding employees or having free edibles in the office made 30% of respondents happier at work. Google, Twitter and Facebook are among the many companies keeping employees happy with free snacks.

Comfortable Work Space

When employees are forced to work in the office, it better be cozy. Everything from the office temperature to the desk layouts can impact job satisfaction. A study from Princeton University Neuroscience Institute found that clutter negatively impacts work flow, and that physical space is important when it comes to productivity. Individuals should have greater control over the work environment because it also boosts job satisfaction.

Another thing for managers and business owners to remember: when it comes to the office setting, the little things matter. Functioning machines, enough light, even good-smelling hand soap in the bathroom – these seemingly tiny factors can make or break an employee’s experience. 

You don’t need to be the richest company on the block to attract the best employees; you simply have to understand what people want. Sometimes, the best things in a worker’s life really are free.

Categories
Entrepreneurs

The Entrepreneur – Building Strategic Alliances for Success

Article Contributed by Joe Vaccaro, CBM

It was not too long ago that customers kept their providers of goods and services at arm’s length. Things change!! In today’s world, if you want to be successful, you have to consider vendors strategic allies who can bring “value-added” to your company. The key is developing and maintaining relationships with your suppliers that meet and at times exceed the expectations of all parties.

In order for relationships to be effective there are steps that have to be taken to provide the solid foundation from which to build a strong and enduring relationship. Before entering into any relationship, there has to be a period of time where the customer and potential vendor begin to acquire knowledge about one another. This means communicating the values, mission, objectives and goals of each entity. This is just as or more important than reviewing and analyzing a company’s financial statement. This enables each party to see how the other company perceives itself and what it intends to achieve. If there are similar, shared or complementary fundamental values, missions, objectives and goals, the relationship has a greater probability of success than if they were separate and distinct. It is the customer’s responsibilities clearly communicate what they expect from the relationship. Most customer-vendor relationships that fail are because the customer’s expectations were not effectively communicated to and subsequently understood and accepted by the vendor. The vision for the future must be defined and shared at the beginning of the relationship. If the vendor knows at this critical juncture that he cannot perform to expectation during the course of the relationship because he does not have the required resources, then he is legally, morally and ethically obligated to inform the potential customer. It is better for an entrepreneur to decline business that he cannot support than to try to deceive the customer with “smoke and mirrors”. Customers have friends and networked relationships. They love to share war stories. Customers are people and people respect honesty and integrity!
The successful entrepreneurs who evaluate and select their vendors should work only with the “best” vendors in the market place. The “best” for discussion purposes are those goods or services providers who provide the most favorable mix of price, quality and service. Notice, price is not the primary or most critical variable to consider. If a decision to purchase based solely on price is made, without giving due consideration for quality and service then the decision-maker and his successors will most likely live to regret it! If the price was too low, then the supplier was more than likely, anticipating making a profit by not consistently providing quality goods or services and/or after market support. If the price was really too low, then the payment could be rather costly. Payment could take the form of disappointing and possibly losing customers or even costing people their jobs!

The key to establishing a mutually fulfilling relationship is for both parties to jointly determine what the acceptable standards of performance will be. For example, this could mean that all deliveries must be made within one hour from time of pick-up or all orders placed for supplies must be filled within twenty-four hours from time of receipt. If the goods or service provider fails to meet these mutually agreed upon standards then there should be a penalty for non-performance. A financial penalty is preferred since it hits where it hurts the most, in the wallet. Periodically, the performance bar should be raised so that the entrepreneur and the supplier do not become too complacent. The key is knowing when and how to raise the bar that measures performance.

No agreement or contract should ever contain an “evergreen” clause that perpetuates the vendor-client relationship. There has to be a definitive life cycle for each relationship. Otherwise, everyone runs the risk of becoming fat and lazy. If a strategic leader discovers an “evergreen” clause in a relationship that he inherited, he most likely will assume that the vendor slipped something questionable by his predecessor. Also, any agreement or contract can and should be open for renegotiations. Why not, things can and usually do change over time. The costs of a good such as paper or the cost of labor such as an increase in the minimum wage can impact both the vendor and customer alike. Flexibility and adaptability by both parties is essential. The best entrepreneurs are always way ahead of the curve in anticipating the client’s need to possibly adjust the terms, conditions or measures of performance. Management reports provided on at least a monthly basis, serve as the documents for discussion. The presentation of these reports at regularly scheduled meetings provides the vendor with the opportunity to showcase his “value-added” to the client. What vendor wouldn’t jump at the chance to have a friendly audience to not only report accomplishments but to pitch new or improved goods or services? Believe it or not many vendors consider monthly meetings a chore instead of an opportunity to grow within an existing relationship.

Strategic management is more of an art than a science. The entrepreneur has to know when and how to lead the relationship. A strong vendor manager accepts input and advice from his supplier. Good vendors can provide a wealth of information. They have access and entry into many organizations. This enables them to enlighten their clients on new and improved processes, systems, procedures and controls that their other clients have successfully implemented. A successful entrepreneur must always be searching and seeking other sources of supply. They must always have alternative solutions or contingency plans in the event that a provider fails to deliver goods or services and has to be replaced on short notice.

All strategic alliances have a life cycle and that may last a relatively long time dependent upon the ability of both parties to grow and adapt to changing business conditions. There are times when the client outgrows the need of the supplier. For instance, a client in the past may have used a local or regional supplier but because of a merger or acquisition may now require a national provider so that they can now enjoy the benefits of the economies of scale that the local or regional vendor cannot provide. Also, a client in the past may have been low maintenance and high profitability may now no longer be worth the time and effort to maintain because the profitability has significantly declined. The vendor may want to walk away from this relationship or start reducing his costs, which may have an adverse affect on the client’s goods or services. In either case, there should always be room for discussion and negotiating by both parties. Remember, the opposite of a win-win situation is a lose-lose situation!! Vendor managers and their vendors have to stay close so that they can study each other and be prepared for any changes in the conduct of the relationship. This could mean reviewing any available financial information or discussing common issues with fellow clients or suppliers.

There are times, believe it or not, when both parties in a contract forget what terms and conditions were to be met and subsequently someone has to pay a price. Also, there are numerous situations when vendors are constantly monitoring relationships and looking to provide “value-added”. In some relationships, either the client or the provider of services or both become complacent and do not see the need to always strive to improve. This lack of focus and concentration is a recipe for failure.

In conclusion, vendor management requires active participation by the client and vendor alike. Each one has a vested interest in the performance of the other. In today’s dynamic world of business, the strategic alliances a company develops, maintains and strengthens with its key suppliers of goods and services has a definite impact on the bottom line. The successful entrepreneur has to always seek out and build strategic alliances with vendors who share their vision and are willing to work with them in fulfilling the changing needs and exceeding the expectations of their customers.

About the Author:

Joe Vaccaro is a Certified Business Manager (CBM) and an entrepreneur. During his career, he has been on the corporate, vendor and consultant’s side of the desk. This tri-angular perspective enables him to bring real value-added in all his business endeavors. Joe is also a Viet Nam War Veteran with a Total (100%) Service-Connected Disability.

Categories
Success Attitude Work Life

Fear of Failure? Are You Saying No To Who You Are Meant To Be?

We all know that Thomas Edison invented the light bulb.

Did you know he also invented the stock ticker, the electric vote recorder, the automatic telegraph, the electric safety miner’s lamp, fluorescent lights, the motion picture camera, and the phonograph?

While struggling with the light bulb, he replied, “I have not failed seven hundred times. I have not failed once. I have succeeded in proving that those seven hundred ways will not work. When I have eliminated the ways that will not work, I will find the way that will work.” From the book, “The Power of Patience”, by M.J. Ryan

Do you have a fear of failure?

Do you cringe at the thought of making a mistake?

Do you expect the worst to happen rather than the best?

Fear of failure is a common reason people hesitate to say YES. For many, the attachment to doing something that leads to an expected or desired outcome often determines whether an experience is viewed as positive or negative. It’s only good if it goes the way you want.

I was doing a presentation a few years ago and one woman said, “Failure would be devastating. I know I would be so disappointed with myself for a long time.” To her, it was one of the worse things she could do. OUCH!

If you do something that does not lead to the outcome you desire or hope, how do you use that experience to help you positively? Do you see it as a learning opportunity or a reason to beat yourself up?

I have a good friend who is a health professional. Years ago we worked briefly together to expand his business. He talked about wanting to offer workshops, sponsoring speakers, perhaps creating some products… his eyes lit up with passion as he talked about his desire to reach more people beyond his local area. He’d been talking about expanding his business for quite some time and he was stalling. He joked about being a big procrastinator and wondering if he’d be able to break through his fears of failure.

Whenever he got close to pushing through his resistance, he’d back away by saying, “My business is doing well. Maybe I should be grateful for what I have”. He admitted that his parents often settled for the status quo because they feared the unknown and their fears made a powerful impact on his view of risk and expansion.

After a few months of working together, he quit. He was too afraid to push through his blocks and go the distance. In the next few years he sponsored a few workshops and now he focuses strictly on his practice. Is he happy and content? He seems to be. Or perhaps he has convinced himself to want less than his soul is asking of him to be? Who knows? This is his life journey.

Being successful in any area of your life includes a learning curve. That means making mistakes and experimenting with decisions and actions to create the life you are here to live. Accomplishments can be defined as the completion of an action. ANY action. I encourage you to be willing to recognize and appreciate your courage to both succeed and fail, which is all a success, really)!

Do you think Donald Trump was a huge success on his first attempt?

How about Oprah? If you look at where she started and who she has become, her rise to becoming a powerfull influence for women has soared over the years because she has had the guts to set a new standard for talk shows and the willingness to be a transparent model of authenticity to people worldwide.

How about you? Are you the same person you were five years ago? If you’ve been growing yourself and your business, the answer would be no. Even if you haven’t put a lot of time and energy into personal growth, it is impossible to remain the same indefinitely. We are either moving forwards or we are moving backwards.

We use past experiences as a barometer to measure future experiences and projected outcomes. We can hesitate to say YES because we believe, “If this happened in the past, I fear the same experience will repeat in my future”. We can use past experiences as excuses to take risks and take quantum leaps. To expect the past to repeat itself exactly is impossible because we aren’t the same people today that we were then. The potential for themes and patterns to recur is probable if you haven’t done the inner work to clear limiting beliefs, resolve past pain, and self-sabotage.

In fact, we can manufacture any reason to avoid doing anything we don’t want to do. The more evidence we collect to prove our reasoning, the better positioned we are to make our case to ourselves and to others. And we can become brilliant in our defense to avoid stepping out of our comfort zones or retreating back when the going gets tough. Enlisting others to support our case makes things a whole lot easier to avoid.

Common beliefs regarding failure:

  • I have to get it right (perfect)
  • I don’t have what it takes
  • If I say no, people won’t like me
  • I have nothing valuable to offer
  • If I’m really “me” people won’t like or love me
  • Things don’t usually turn out well for me (self-fulfilling prophecy?)
  • It’s too hard
  • Success happens for other people not me
  • I’m not good enough, smart enough, lovable enough..
  • I’m not ready
  • I won’t be able to handle….
  • I’ll lose…. (fill in the blanks)  and that would be devastating  (Is that really true?)
  • Maybe what I have is enough and I should be happy with the way things are and not want more

Which ones do you relate to?

Self-fulfilling prophecies give us even more ammunition to prove why something doesn’t work out well. Wikipedia’s definition of self-fulfilling prophecy is “a prediction that directly or indirectly causes itself to be true”. If we are resistant, expecting something to go poorly or fear it might go well (fear of success), you can bet we’ll find ways to sabotage ourselves so we can prove we’re right. That gives us permission to come back and say, “I told you so!” to ourselves and others because we didn’t really say YES!
It is through the trial and error experiences that we develop our unique formula for happiness and success.

When I was an addictions counselor we talked about trusting the process and the journey of moving from one place to the next. The challenge? Having the patience and tolerance to go the distance without getting discouraged or scared. “I want it to happen NOWWWWWWWWWWWW!!!!

There is a difference between failing at an effort and taking on the identity of a failure.

There is a difference between making a mistake, and identifying with result

Do-ing something and Be-ing something are two vastly different truths!

Yes, you will minimize the chances of too many costly mistakes in your life by doing your homework, making informed decisions, and creating solid strategies to implement. Remember, that even with the best plan that includes anticipating possible outcomes; life will still bring you the unexpected. When you include failures and mistakes as part of your strategy to success and outlook on life you will rebound more quickly to each situation as it arises so that you continue to move toward your destination.

Getting things you may not want will help you get that much clearer about what you do want. In that way, your commitment to your dreams and goals become more compelling.

To explore your attitudes about failure, consider the following twelve questions. Take your time in answering them:

1. What is your definition of failure?

2. What does failure mean to you? What does it look like, feel like?

3. What fears, concerns, or assumptions do you associate with failure?

4. How are your fears and beliefs about failures affecting your life? Constricting you? Inspiring and motivating you? Some people use their fear to break through barriers and create amazing lives.

5. Is it possible that your fears and beliefs about failure are fundamentally false, even if you have evidence to back it up?

6. If you fail at something, does that define YOU as a failure?

7. What specific experiences would you define as failures?

8. Can there be success in failure? (Remember Thomas Edison’s quote!) Is it possible that any every failure you ever had was really a success? (Gotcha thinking, don’t I?)

9. Do you use your past failures as learning experiences or do you use them to beat yourself up?

10. If you appreciate past failures as growth and healing opportunities, what value have you taken from them to enhance your life?

11. If you could not fail, what would you be doing? Who would you be?

12. Would be saying YES to who you are meant to be?

We are human beings! We react, respond, screw up, and do things brilliantly.

My philosophy?

Here are several:

  • Every situation offers a growth and healing opportunity. Look for the gifts and blessings in each experience that challenges you and invites you to be more than you are, especially when it is undesired.
  • Approach life with more self-love and compassion for those times you judge yourself to be less than your best.
  • Aspire to see yourself and others through the eyes of love (if you aren’t already there!). And when you have those moments when you slip into your humanity rather than your Divinity, forgive yourself and use the experience as an opportunity to heal and grow.
  • Don’t take yourself so seriously. Remember to laugh and have fun.
  • You are a powerfull Creator. At every moment you make choices that will either bring your joy or misery depending on your attitude. What will you create today?
  • Experiment with new things and learn all you can from each experience regardless of the outcome.

Fear of success and fear of failure are two sides of the same experience.  By definition, success and failure is perceived from multiple viewpoints. Both results offer opportunities for self-discovery and change.  It is through the process of succeeding and failing that we come to know more about who we are. We learn about our unique talents, skills, and gifts through the opportunities we create that invite us to shine.

“When we come to the edge of all the light we have
And must take a step into the darkness of the unknown
We must believe one of two things
Either we will find something firm to stand on
Or, we will be taught to fly.” –Patrick Overton Copyright © 1975 The Leaning Tree

Categories
Entrepreneurs

Tax Deductions: One Way to Minimize Self Employment Taxes

tax%20deductions.jpg

The US Tax Code can be pretty rough on the self employed. It often seems to be written to favor big corporations over small and solo businesses. The rules are often complex and confusing for the average self employed individual to grasp, even with the help of an accountant. And that first paycheck can be a shock when you realize how much of it is eaten up by self employment taxes!

Even when tax breaks are available, figuring out if you qualify and then having all the right paperwork in place may make those deductions seem like they aren’t worth the hassle! For instance, if you have a home business, i.e. you work out of your house, you may be able to deduct for a ” home office” — but the requirements are strict, and can be a trigger for an unwelcome audit. Mileage reimbursement is a little more straightforward, until you realize you have to write down every trip, its’ length, who you met with and what you talked about! And not many new business owners even remember to keep track of startup expenses, much less understand how depreciation works, without the help of a good accountant.

There is one tax provision, however, that is clearly worth the trouble: a Section 105 Medical Reimbursement Plan. This can save you, quite literally, thousands of dollars a year. You must be married and able to legitimately employ your spouse at least part-time in your business in order to qualify. If you are and you can, read on — your heartburn over outrageous health insurance premiums and skyrocketing medical expenses may be about to go away!

Here’s the bottom line: with the requirements met and the proper paperwork in place, you can:

  • Deduct 100% of your family health insurance premiums
  • Deduct 100% uninsured family medical and dental expenses
  • Save a huge chunk in federal, state, and self employment taxes!

How do you qualify? You must have a properly documented employment agreement with your spouse, and the work performed and salary must be reasonable. Complete records of the premiums and expenses and their reimbursement are required. Ugh, more paperwork…but help is on the way!

I’ve been very impressed with the BizPlan/AgriPlan Section 105 Medical Reimbursement Plan, offered by TASC (Total Administrative Services Corporation). Recommended by a colleague (who saves several thousand dollars every year with this plan), I’ve found TASC to be a very professional company that takes its obligations to its self employed customers very seriously, including offering a tax audit guarantee. And the annual cost is very reasonable, starting at under $200.

Don’t wait — you can only deduct expenses that occur in or after the month you apply for the plan. Consult your accountant, and check out BizPlan today, for maximum tax savings this year!

Categories
Online Business

Autoresponders – Put Your Follow-up On Autopilot!

autoresponders.gif As a solopreneur being able to follow-up with your clients and potential clients is crucial in growing and sustaining your business, and keeping a steady flow of new clients coming on board. However the downside is the time it takes to follow-up with each and every one of your contacts – after all spending all day following up with clients isn’t a good use of your time; you also need to spend your time on income generating activities and generating cash flow for your business.

So what is a time-starved solopreneur to do in order to maintain follow-up with customers and clients?

Autoresponders are perfect for automating your follow-up and freeing up some of your time. If set up correctly they will follow up with EVERY SINGLE customer who has ever purchased a product from you; or EVERY SINGLE subscriber to your ezine list! Would you be able to undertake that task yourself? The answer is no, you couldn’t, it would be impossible.

This is where you need to get smart and take advantage of technology to automate your follow-up. Create the systems and let them run on autopilot.

What is an autoresponder?

Put simply an autoresponder is a piece of software that will allow you to send email messages to people on your list. Don’t confuse this with spam or unsolicited mail though. These messages are sent to people who have already confirmed that they want to receive email from you; they have either signed up to your ezine list or they have bought a product from you. They have given you permission to email them as they have confirmed their subscription to your list.

The autoresponder is an email that is sent out automatically in response to an action taken by your customer/subscriber, and it can either be just one message or a series of follow-up messages that you set up to go out at certain intervals – you choose what those intervals are.

For example, you could set the first message up so that it goes out immediately someone confirms their subscription to your list, the next message could go out seven days later, and the final one two weeks after that. The beauty of using this system is that you decide how often and what messages are sent out.

The autoresponder doesn’t write the messages for you, you have to do that yourself, but the opportunities using an autoresponder opens are invaluable.

Once you’ve taken the time to set up the autoresponder it all runs on autopilot!

How can you use autoresponders in your day-to-day business?

There are many ways you can use an autoresponder in your day-to-day business, but just to give you a couple of examples:
Ezine Signup. When someone signs up for your ezine you will generally create an autoresponder that immediately gets sent out to them welcoming them to your list – once they’ve confirmed their subscription, of course! Add a second message to go out a few days later, and ask them how they found your free taste, what their biggest challenge is, or if there is a particular topic that they would like to find out more about.

Product Purchase. When someone buys one of your products create an autoresponder and a series of follow-up messages to ask them how they are getting on with your product, are they working through it okay, send them a ‘surprise’ bonus, or ask for a testimonial. Span these messages so that they go out over the course of a few weeks. If you offer a home study system set the final message to check in with them about six/eight weeks after they’ve bought your product to see if they were able to implement the steps, or if there’s anything they need help with.

The secret to autoresponder success

Even though your autoresponder may be going out to several hundred customers (or even thousands), don’t let that deter you from making your messages personal – let your personality come through in your messages, encourage feedback from your recipient, give them a call to action in your messages.

When putting your autoresponder and follow-up messages together write them as though you are writing to just ONE person. Think about the tone you use. Do you keep it informal? Chatty? Light? If you find this task hard pick a contact/client you know really well and imagine you’re writing an email to them. What tone do you use when writing to this person?

Go one better, and actually send your messages to this contact/client and ask for feedback from them. Chances are if they really like the way you’ve written your messages your other customers and clients will too!

I rely on my autoresponders to follow up with my customers, clients, and ezine subscribers – without them I’d find it impossible to follow-up and may end up losing valuable relationships.

I know that many of my relationships with my clients/customers have been established as a result of them replying to one of my autoresponder messages. I would find it impossible to make contact with each and every one of these people personally; the autoresponder does that for me, but then I am able to create a relationship with those customers who do reply to my messages.