Is Your Team on PACE?

Hiring is a good Thing

Needing to hire new people is a good thing.  It means that your business is growing, or at least changing.   In a perfect world, you get to hand-pick your new employees knowing everything about them before they even walk through the door for their interview.

Coaching help build a positive attitude

But you don’t.  So it’s important to consider key factors when going through the interview process. We use an acronym PACE™ with our clients:  Positive + Attitude + Crew, = Excellence.  Now is an excellent time for a quick examination of these interrelated concepts.

Positive:  Interview specifically looking for the person who will most positively embrace your core values.  Quite possibly this may not be the one who has the best resume or GPA.  Remember that having someone on your team who cares about the things you do is a far more desirable factor.

The importance of having your team on the same page cannot be stressed enough.  It is what keeps you all working towards the company goals.  That concept should be in the forefront as you conduct your interview.   You need someone who embraces your values; it cannot be taught, either they have it or they don’t.  Finding that positive person will have a positive effect on your company.

Attitude:  Attitude is another quality you need to evaluate during an interview.  It refers to how your candidate shows their opinions or outlook through behavior. How does this person listen and react to things you are saying?  Do they have any insight into the position for which they are applying?  Consider things like their temperament and level of common sense.

Crew:  How and where will this person fit in with your existing team?  If you have more than one candidate, bring them together for the interview.  You will learn a lot about a person when you see how they interact with others, particularly those who are vying for the same position.  Listen to what they say and how they treat each other, this is a great way to find out how they’ll interact with your Crew.

Excellence:  Workplace excellence is an obvious goal yet one that deserves a mention.  Projecting your expectation of excellence during the interview will resonate with your future employees.  This is not just at the personal level, but at your measurable company level. They will know they are entering a well-oiled machine that has tools in place to monitor and correct on a weekly, quarterly and yearly basis.

You need people who are on board from the very beginning, people who are with you for the long haul.  Remember PACE = Positive + Attitude + Crew = Excellence for your company and in your culture.  PACE is at the heart of our 4-hour hiring process; want to learn more contact us today!

If you would like to have a Review Session of your Culture and Team with coach Thom Torode, click here to schedule.

Thom Torode is a NJ based Professional Executive & Business Coach and EOS Implementer. Having owned and operated over 5 different businesses he is currently the Managing Director for Sunrise Business Advisors.   Thom’s expertise includes working with those business owners who have plateaued getting them unstuck and back in growth mode. Additionally, Thom works with both franchisees and franchisors in helping them develop their leadership. Thom is also Director Consultant with BNI. When not helping business owners and their teams create the business and lives they want and need, he can be found following his kids activities.

What is a Business Advisor?

Have you ever felt like you’re “buried in the weeds”?

 Do you feel like your business could be more profitable if you only had someone to advise you on how to keep things on track?  Does the idea of hiring a business advisor seem extravagant or mean that you have failed?  Not at all, so maybe it’s time to consider the value of bringing in someone with a different perspective.

A trusted business advisor can help you at all levels, having experience as an entrepreneur as well as coaching others grow their business.  You don’t need to have a multi-million dollar, or even a multi-$100,000, company to justify hiring an advisor. If you are committed, assessing where you are and getting you to where you want to be is more than worth the time and money you will invest.

Expect to fill out an online assessment questionnaire that will give the business advisor a good idea of your current state and your objective.  Like the forms you need to fill out before seeing your doctor, this step is important for the advisor begin to develop a plan just for you.  

What’s my Time Commitment?

You will then meet with your advisor for a free 60-90 minute consultation.  The first discussion will be to clarify your vision, or mission statement, by identifying your core values.  At this time you’ll discuss the status of your company, review the questionnaire and brainstorm ideas on guiding you to your vision.  Listening to your advisor is key because you want to get the most benefit from their experience. Value that will be added to your bottom line when you work together.

Generally you will meet with your advisor weekly or bi-weekly for a couple of hours, depending on the terms you agreed on together.  In addition, you may call or email if you need to discuss an issue before your next face-to-face.  Advisor accessibility is part of the package.

Where do we start?

You will delve into the strength of your corporate vision and culture.  It is not uncommon to have miscommunication between the leader(s) and team members regarding vision, issues and processes. Your advisor will coach you through anything from setting up metrics to track important numbers, personnel evaluation, efficient meetings and goal setting.

Quarterly group sessions that focus on setting and attaining goals are offered free of charge to the clients.  Attending these half-day sessions are important because they get you out of your day-to-day tasks while you brainstorm issues with like-minded business owners.  Since these sessions are open to the public, you might consider paying the entrance fee so you can see the advisor in action.  You will be inspired and energized at the very least, and it will give you a glimpse into how this advisor could benefit you in an on-going capacity.

Your advisor’s goal is help your company grow.

Thom Torode, MBA Certified Business & Executive Leadership Coach, EOS Implementor

Generating more money does not automatically mean that your profits will rise.  Your business advisor will work with you to establish the processes you need from the ground up.  With these tools in place you’ll will know exactly where your company is because you’ll be tracking the right data.  Your people will be better informed and focused.  You’ll minimize wasted time and money.  Your company will be healthy and profits will rise.  When you have a question or concern, your business advisor is only a phone call away.

If you would like to have a Review Session with coach Thom Torode, click here to schedule.

Thom Torode is a NJ based Professional Executive & Business Coach and EOS Implementer. Having owned and operated over 5 different businesses he is currently the Managing Director for Sunrise Business Advisors.   Thom’s expertise includes working with those business owners who have plateaued getting them unstuck and back in growth mode. Additionally, Thom works with both franchisees and franchisors in helping them develop their leadership. Thom is also Director Consultant with BNI. When not helping business owners and their teams create the business and lives they want and need, he can be found following his kids activities.

Is Your Franchise Flying Blind?

EOS Issues

How to Recognize and Address Your Core Business Issues.

Over the past several months we have highlighted the various components within the Entrepreneurial Operating System (EOS).

  1. Vision
  2. People
  3. Issues
  4. Data
  5. Process
  6. Traction

While each of the 6 components of the EOS Model is a separate entity, they inherently interact with each other in some capacity.  Each individual component needs to be solidly identified if the EOS is going to help the company’s health and growth.

For example, while most companies think that the Issues they are having are unique, in actuality there are only about 25 different Issues that companies have faced since the beginning of time.

Issues: IDS

Let’s examine one company in the news lately that lost close to $1 billion in the market because they failed to handle an Issue properly.  The company in question is, of course, United Airlines.  My purpose is not to get into a debate of the legalities (or illegalities) of what happened, but to merely show you how important it is to go through your own IDS (Identify – Discuss – Solve) for any Issues you might have. Let’s start with what happened within United’s chain of command that broke down so horrifically into a continuing PR nightmare.

From United’s website:  “We are committed to providing a level of service to our customers that makes us a leader in the airline industry. We understand that to do this we need to have a product we are proud of and employees who like coming to work every day.

Our goal is to make every flight a positive experience for our customers. Our United Customer Commitment explains our specific service commitments so that we can continue a high level of performance and improve wherever possible. The commitment explains our policies in a clear, consistent and understandable fashion. We have detailed training programs and system enhancements to support our employees in meeting these commitments, and we measure how well we meet them.”

 

Very interesting…so what happened, what’s the Issue?  From what I’ve read in the various media posts, someone realized that they needed to get 4 crew members to Louisville for the next day.  They had a Process for this, eventually randomly selecting passengers to “volunteer” their seats. It’s still inconclusive as to if that Process called for having police “enforce” that policy.

Part of the process of identifying the key Issue here is to ask a few questions:

  1. Why a PR nightmare?
  2. What happened & What could have been done better to resole this Issue?
  3. Solution:  Analytical tools, Process modification, People

From our February e-newsletter on issues, “Only when the real root Issue is identified should you and your team begin the discussion phase.” What is the real Issue that United is facing?  I’ll suggest a few, but this list is by no means conclusive.

  1. Too much concern for the bottom line that Wall Street requires (Data component)
  2. Too little concern for their paying customers (a direct conflict with their Vision)
  3. Faulty Process
  4. Process driving People, rather than People driving Process

Hopefully, Oscar Munoz, the CEO of United is going to give more than lip service when he states his apology for ‘re-accommodating’ passengers. What happens over the next few weeks will be telling as to how seriously United takes this Issue.

What types of Issues are you facing within your company?  If you would like to have  an Issue Review Session with coach Thom Torode, click here to schedule.

Thom Torode is a NJ based Professional Executive & Business Coach and EOS Implementer. Having owned and operated over 5 different businesses he is currently the Managing Director for Sunrise Business Advisors.   Thom’s expertise includes working with those business owners who have plateaued getting them unstuck and back in growth mode. Additionally, Thom works with both franchisees and franchisors in helping them develop their leadership. Thom is also Director Consultant with BNI. When not helping business owners and their teams create the business and lives they want and need, he can be found following his kids activities.

 

Customer Retention Improvement for your Business

Improving Customer Retention

If you’re a business owner, then of course you want to do everything you can to not only gain new customers, but to keep your existing customers loyal to you. Unfortunately, customer retention isn’t always easy; customers may leave as a result of a bad experience with one of your employees, a bad product, or even a lower price offered by a competitor. While there are all kinds of customer retention strategies out there, there’s one that’s been proven to be the most successful.

Customer Retention Dartboard Perfect Dart Hit

Develop and Enforce KPIs Among Employees

Because the majority of customers who leave a business do so as a result of poor customer service, the single best thing that business owners can do to retain customers is to implement Key Performance Indicators (also known as KPIs) within the workplace. KPIs should be tied to a company’s goals and should be easily measurable. They should also be included in each employee’s contract.

Some examples of KPI’s that can directly improve your customer retention rate are benchmarks such as:

  • Response time to customer inquiries.
  • Time between receiving and order an fulfilling it.
  • Ratings on customer surveys.
  • Quality control levels on finished products.
  • The actual measurement of your customer retention

At the end of each quarter, all employees should receive a KPI review; during this review, managers and supervisors can determine whether or not each employee is meeting those key performance indicators as outlined. If not, then corrective actions may need to take place, additional training may be required, or the employee may not receive a special bonus or incentive.

On the other hand, if KPIs are met, then the employee should be rewarded in some way, whether it be financially or even just giving him or her some form of recognition within the workplace.

How KPIs Improve Customer Retention

There are many ways in which implementing and tracking KPI requirements among employees can help boost customer retention in any business. For starters, employees will have a greater incentive to deliver service to customers that reflects the values and goals of the company. As a result, customers are more likely to be satisfied with their service. After all, an employee will know that he or she could be reprimanded for not delivering the level of service expected and will strive for excellence as a result.

When it comes to customer retention in your place of business, you need to do everything you can to keep your customers around so your company can be as successful as possible – this is good for you, your customers, and your employees. Therefore, if you don’t have a KPI strategy in place among your employees, now is the time to start thinking about developing and implementing one.

For additional information contact: Sunrise Business Advisors

Thom Torode is a NJ based Executive & Business Coach. He has owned over 5 different businesses and is currently the Managing Director for Sunrise Business Advisors. Thom’s expertise includes working with those business owners who have plateaued getting them unstuck and back in growth mode. Additionally Thom works with both franchisees and franchisors in helping them develop their leadership. Thom is also Director Consultant with BNI. When not helping business owners and their teams create the business and lives they want and need, he can be found following his kids activities.

As the managing director of Sunrise Business Advisors, I have owned and operated a multitude of different businesses as well as holding senior management positions with a fortune 500 company. In addition to being a Certified Business & Executive Coach, I am also a Certified Franchise Coach, as well as Certified Guerrilla Marketing Coach and Trainer. Our philosophy is to provide coaching, mentoring, and advisory services to help business owners achieve the businesses, the teams and the lives that they’ve always dreamed of having. We accomplish this through a tried and proven process of learning and understanding your needs and we’ve always achieved high marks with our valued clients.

Additionally Thom works with both franchisees and franchisors in helping them develop their leadership. Thom is also Director Consultant with BNI. When not helping business owners and their teams create the business and lives they want and need, he can be found following his kids activities.

Franchise Growth Through Coaching

Franchise Growth does not just happen!

Want to see growth in your franchise business? If you choose to go the franchise route to build a business, you join with millions of successful business owners who find this a proven route to success. The franchise concept is designed to help you become your own boss, while eliminating many of the risks of the standard entrepreneurial start-up. Once purchased your franchise system, you should own the rights to a proven business model that offers a product or service with a proven track record. However, you’ll quickly learn that most franchise programs are designed to eliminate risk, not maximize your own return on investment. The truth is franchises fail at about the same rate as small businesses and much of the reason for this is a lack of the owner’s business skills. To see real growth in your franchise business you are going to have to sharpen your business skills as well.

The Growth of your Franchise is important

There is an old saying in business that says if you are not growing you are dying. A franchise unit that is growing generally indicates the underlying business and operations are running well. Growth + Profitability = a sustainable business! If you see growth in your franchise during good times it also gives you the needed room when times are less favorable.  Growth, second only to profitability is a key indicator for your business.

Standing Above the Crowd – Amp up your Franchise Growth!

Most companies who market franchises understand they are judged first by how many of their franchisees fail. While they want everyone to succeed at some minimal level, they work hard to ensure the number of failures is kept as low as possible. What this means to you is that even the best companies spend little time providing guidance to help you achieve more than the minimums called for in their formulas.

It is a fact, however, that many franchisors have the potential to generate far greater returns than they do. The reality of this fact is based on the stellar results achieved by many franchisors who turn to a franchise coach to help get the advice they need to exceed basic franchise formulas. To really see some accelerated franchise growth you need to surround yourself with a good team of advisers, and draw on resources beyond the franchisor’s system.

The reason this works is proven by the franchise approach itself. You basically buy a “business in a box” because you respect the knowledge and experience of the company offering you the opportunity. Likewise, there are franchise advisers who understand the insides and details of franchising as an industry, not just in the specific area of your own franchise. A franchise coach thus brings business knowledge and best practices to your franchise model or franchise business. The difference between running a mediocre franchise and running a successful one is much like the difference between buying an average job or owning an enterprise.

Measuring Franchise Growth the details, metrics and KPIs

Franchise Growth ChartJust as your own franchise is developed around a certain formula, there are additional formulas and factors that are involved in maximizing your success and total profits. Finding the right franchise mentor will expose you to a whole new world of invaluable insights, metrics, and Key Performance Indicators.

The franchise industry has thousands of examples of how vital this added layer of knowledge and experience is and how it adds value to your operation. If your franchise company has been around for more than four or five years, look closely: You’ll often see it within that organization.

Franchise Growth comes from specific activities

For example, you can find and compare two different franchises with similar demographics and market territories. One will be blowing off the doors with great sales and profits, with minimal internal hassles and employee turnover. The other will be struggling and barely able to keep those doors open financially and operationally. The gap between these two operations isn’t luck or some magic secret.

The reality is that the most successful franchisors often point to the decision to bring in a top franchise mentor as the point at which their businesses take off. Don’t rely on luck or your franchise company – take control of your destiny with the insights and solid advice you will find with a qualified franchise coach.

What to see real growth in your franchise contact Thom.

As the managing director of Sunrise Business Advisors, I have owned and operated a multitude of different businesses as well as holding senior management positions with a fortune 500 company. In addition to being a Certified Business & Executive Coach, I am also a Certified Franchise Coach, as well as Certified Guerrilla Marketing Coach and Trainer. Our philosophy is to provide coaching, mentoring, and advisory services to help business owners achieve the businesses, the teams and the lives that they’ve always dreamed of having. We accomplish this through a tried and proven process of learning and understanding your needs and we’ve always achieved high marks with our valued clients. Let us help you become a Franchise Success story.

Additionally Thom works with both franchisees and franchisors in helping them develop their leadership. Thom is also Director Consultant with BNI. When not helping business owners and their teams create the business and lives they want and need, he can be found following his kids activities.