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5 Things I Learned From Verne

Recently, I had the pleasure of attending a Verne Harnish talk. Verne Harnish is the Founder of the global business network Entrepreneur’s Organization. He is the Venture Columnist for Fortune Magazine, and he’s the author of the bestseller Mastering the Rockefeller Habits. His latest book Scaling Up has also been very successful winning seven major international book awards including the prestigious 2015 International Book Award for Best General Business book.  And these are just a few of his many major accomplishments! Verne has spent the last 30 years using his expertise to help companies improve.

What I Learned

Attending this talk had me asking myself some important questions that I believe all businesses should be asking themselves if they are looking to ‘scale up’.  Here are 5 things that I learned:

  1. Honestly ask yourself where you get your energy. These are the tasks you should focus on and delegate or automate the rest.
  2. Start thinking about Artificial Intelligence (AI). It is here to stay and companies already using AI today will be the ones to stand out tomorrow. Think about various aspects of your business. What are some ways you predict AI will save you time and/or money?
  3. What 25 relationships do you need to achieve your business goals? Write down names and go seek those relationships and nurture them regularly.
  4. Every business should have a guarantee. Exadata’s great example is 5x faster than IBM or we give you $10,000,000. Domino’s is 30 minutes or it’s free. What can you guarantee your clients?
  5. Are you familiar with the 7/70 Rule? Go after 7% of a market segment and then dominate 70% of that market. For example, Ikea is only 6% of the furniture market but owns over 70% of the ready to assemble niche. Start researching how you can get your business there.

Looking at the bigger picture in this way will help you rearrange your business’ goals so that you are not just planning to improve or expand, but also analyzing how you can be ahead of competition and dominate your industry.

Book Bundle

In addition to Harnish’s own publishing’s, he recommends a Book Bundle List to encompass all aspects of your business.  These recommendations are his top book pics that will help you take your business to the next level!

  • Relationship Marketing by Regis McKenna
  • Am I Being Too Subtle by Sam Zell
  • The Wisdom of Crowds by James Surowiecki
  • Teeming by Tamsin Woolley-Barker
  • Outrageous Empowerment by Ron Lovett
  • Uncommon Service by Frances Frei
  • The Goal by Eliyahu Goldratt
  • The Customer-Funded Business by John Mullins

Don’t be afraid to have bold goals and big dreams! With the right steps and planning, anything is possible for you and your business!

Emily @ Back Office Betties

 

Increase Workplace Happiness With A Dream Manager

If you are looking for employees who are loyal to your company, strive to meet company goals, take pride in their work, and want to see their organization grow more successful…then you need to understand the influence of job satisfaction. Employees who feel appreciated and tend to be happier are:

  • cared about by management
  • feel they can be trusted
  • given an appropriate workload

It’s not exactly rocket science that being treated well makes a person happier, but often organizations miss the mark with their attempts to increase employee job satisfaction.

Dream Manager Program

One of the more unorthodox, yet effective strategies at increasing employee happiness is implementing a dream manager program. Matthew Kelly’s book, The Dream Manager, shows how companies can have stupendous results by helping their employees achieve their dreams. A dream manager’s job is quite literally helping employees plan how to fulfill what they desire! This can be anything from helping an employee with their goal of running a marathon to helping an employee learn to make the perfect souffle!

While employees work hard to support company goals, in return, the company is helping them achieve their personal goals. This sends a message to the employees that their interests’ matter and that their lives outside of work matter.  More importantly, they feel valued. In turn, employees have more confidence, are more invested in their work.  They naturally will work harder and become generally happier, feeling more satisfied with their position.

If you’re looking for a way to increase job satisfaction, consider a dream manager program because it’s fun and rewarding. It truly benefits everyone! Furthermore, it’s doable for almost any company, no matter the size. Even small businesses can fulfill small employee dreams and goals.  It’s certainly a worthwhile investment!

 

Showing Appreciation

Showing your employees that you appreciate them should not just be an item on the agenda but a top priority. Recognizing your employees is crucial because they work hard for you every day.  It can also be beneficial for you, increasing workplace morale thus an increase in productivity.

In addition, it builds a loyal team that feels confident to take on more difficult and daunting tasks. Plus, its easy. Showing appreciation to your team doesn’t have to be a big, expensive production. For Example, Back Office Betties appreciates our employees by:

  • Offering a $15 an hour minimum wage.
  • Creating “Flow Time” for our team to unplug and relax by listening to music and taking time out to recharge.
  • Providing a beautiful office fund every year so employees can buy something for their desk, office, etc. (making it their ‘space’).

Get Creative!

However, there is a ton of different ways to show your employees you care about them – be creative! Here are a few ideas that you can explore implementing into your business:

  • Ask for employee feedback by offering a survey. This will tell them that their voice matters and that they are being heard. It also shows them that you as a leader want to meet their needs and provide the best work environment as possible.  
  • Allow them to take extra breaks or longer lunches.
  • Organize a team service project for an organization of your employees’ choice. This is a great way to not only give back to your employees but give back to the community!
  • Simply tell your employees how grateful you are for their hard work in person or through a handwritten letter/card.

These are just a few of so many easy and creative ways to show your employees that you care about them. Never shy away from opportunities to show employee appreciation, you will find that it is very rewarding for them to hear!  Even more so, it’s gratifying for you too!

Legal Intake: The Perks Of Automation

In past blogs we have discussed the perks of automating the intake process, and the perks of hiring a virtual assistant to take over administrative duties.  Combining the two of them can make your process seamless! The beauty of combining these two ideas is they work for virtually any firm, giving you customization and flexibility.

 

Create Your Own Intake Form

First, you will need to tailor your physical intake forms so that it makes sense for the kind of services your firm offers. Providing an intake form will save you so much time and energy because they are a way to organize important and necessary information neatly onto a sheet that you can use and reference when needed.

Using Clio is an easy way to create your intake forms and organizes them with the rest of your client data directly into the CRM platform. Choosing to use a platform like Clio has many perks other than just offering an automated intake form- it allows clients to e-sign documents, can schedule consultations, and it even offers fee arrangement automation.

Assign Your Intake Process To Your Virtual Receptionist

Once you have automated your intake forms and designed them to fit your services, you can assign the intake process to a virtual receptionist.  If you don’t have a virtual receptionist, check out our Blog about why you should think about hiring one.

Automation is particularly helpful to virtual receptionists because it saves them time from having to scan, fax, or mail in forms. An automated process allows the forms to be filled out and submitted online so once completed they are automatically entered into the system.

Let Technology Help You

You only have so much time in the day, and there is no way to get around those administrative duties. So, don’t shy away from technology. It will help take care of mindless tasks like data entry, so you can spend time with your clients.

And if you are ever considering hiring a virtual receptionist, look no further than Back Office Betties!

Building Better Business Relationships

Have you ever heard of the expression, “it’s not about what you know, but who you know”? For entrepreneurs, the people you meet can potentially shape the identity of your business.   You may find the perfect business connection through a mutual colleague, or by you yourself getting out into the community; the point is – you can’t run your business alone.  It is important is to find strong supportive networks, so you can cultivate great business with quality relationships.

A Good Network

While spending time building your network can seem taxing, this can be time well spent.  A Harvard study found that 85% of business success comes from people skills that are used to build relationships. Networking can bring in relationships that are mutual.  Meaning, you do not have to skirt around the intention that everyone is there for a business relationship.  It’s important to exercise the 70/30 rule – spend 70% of your time actively learning about others and how you can connect them within the business and 30% answering questions about you and what you do.  Listening to others and their ideas can be a great asset to your business on ways to improve, bring innovation, and possibly build power-partner relationships.

Be Trustworthy

If you want to build solid business relationships, be ‘you’ are and steer away from a false persona (especially online).  Be willing to accept others as they are and seek out natural connections you make with people.  Look for signs of things you have in common or if your communication is effortless.  Connecting your personality with others can act as a catalyst with your business relationships.

Hiring The Right Employees

Another key to growing your business internally is hiring the right employees.  It is essential to hire workers with diversity that possess different views and opinions.  This will guarantee that team meeting are full of different ideas and solutions to many topics your business will face. During your recruitment phase, a key characteristic to look for is a person having profound respect for diversity and fresh ideas.  Once you have a good team in place, fresh ideas and innovation will come naturally.   In addition, the biggest challenges that come up in your business will feel more untroublesome.

 

Expectations

As you develop professional relationships with others, keep an open mind and try to let go of your expectations.  It’s ok to have a realistic idea of what you seek out of a business relationship, however never assume preconceived expectations of what you want.  There must be mutual respect for what each person does and acceptance of who they are rather than what you want them to be.  In turn, this will create great trust and relationships that are meaningful and profitable.

To building significant business relationships!

Back Office Betties