Transcript score-suncoast.org

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Simple Steps for
Growing Your Business
Managing Your Time,
People and Resources
The SCORE Foundation
would like to thank
for showing their support of America’s small businesses
by sponsoring this series.
The content provided in the Simple Steps for Growing Your Business
materials is intended as a business resource only and does not guarantee a
successful outcome when applied to individual business use.
To find additional resources on growing your business,
visit www.score.org and www.openforum.com
A Special Thanks to Our Local Sponsors
Classroom Safety – Argosy U
Emergency
Exits
Restrooms
Please do
not wander
around the
building!
You are HERE
Classroom Safety–ComCenter
Emergency
Exits
Restrooms
You are HERE
Please do
not wander
around the
building!
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About SCORE
• Successful and experienced business
owners and executives acting as
volunteers
• Free mentoring:
Douglas S. Cavanaugh
• One-on-one
• E-mail
• Signup on our website – Mentoring Tab
• Seminars and workshops
• Resources for small business:
manasota.score.org
Assessing Your Business
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If you have not looked at the SCORE Business Needs
Assessment, it is in your packet!
It will help you assess the current state of your
business in 5 key areas:
1.Management
2.Marketing
3.Sales
4.Finance
5.Operations
Review with your mentor to help you:
Decide what additional workshops to attend
Develop a customized business improvement plan
By the End of This Workshop,You Will:
Rafe Totengco
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• Know how to assess your Human Resource
(HR) needs
• Have low-cost ideas for training or retraining employees
• Learn strategies for motivating employees
• Know how to handle problematic
employees
• Know when to hire outside professionals
• Be able to manage your time more
effectively – may allow you to defer hiring!
• Understand good practices to follow when
you need to hire
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Let’s Get Started
Briefly tell us about you:
•Your name
•Your business
. . . your 30 second “elevator” speech!
Katrina Markoff
•What you hope to achieve during and
after this workshop
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Assessing Your HR Needs
Assessing Your HR Needs
SWOT Analysis
• Strengths
• Weaknesses
• Opportunities
• Threats
Do you need more resources in the following areas?
• Marketing
• Sales
• Technology
• Accounting
• Operations
• Management
• Business intelligence
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Assessing Your HR Needs
Who should perform the job?
•Business owner
•Partner
•Current employees
•Outside resources
–Consultants or Contractors
•New Employees
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Employee Training and
Development
Employee Training and Development
Skills Inventory
• What skills do your employees have?
• What skills do they need for their
current jobs?
• What skills do they need in order to grow
with your company?
Theresa Alfaro Daytner
• What are they interested in learning?
• Exercise 1 – Improve your employee’s skills
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Skills Development – Exercise 1
Exercise 1
10 Minutes
Work on 1 or 2 employees
10 Minutes
Share your ideas with others
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Employee Training and Development
Cross-Training Your Staff
Benefits:
• No outside assistance needed
• Do more with less
• Enhance employee skills
• Uninterrupted workflow
• Employees share knowledge
Methods:
• Rotation
• Job shadowing
• Group training sessions
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Employee Training and Development
Outside Employee Enrichment Programs
Where to get mentoring, training and education?
•Online
•Industry/professional associations
•Colleges and universities
•Adult education/continuing education
•Training companies/consultants
•Business coaches
•State Economic Development Department
•Chamber of Commerce
•American Express OPEN Forum
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Employee Retention
Employee Retention
Why Employee Retention Matters
Employees who don’t feel valued may leave as soon as they
have a choice
•Save money required to re-hire and re-train
•Save time recruiting and hiring
•Keep skilled workers
•Stay competitive
•Keep business running smoothly
•Continuity of knowledge
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Employee Retention
Employee Benefits
Low/No-Cost Benefits:
Paid Benefits:
Flextime
Remote work
Wellness program
Credit union membership
Casual atmosphere
Product discounts
Employee involvement
Health insurance
Vacation
Life insurance
Retirement plans
 Traditional 401(k)
 SEP (Simplified Employee Pension)
 SIMPLE 401K(husband/wife owners)
Profit sharing
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Attaining Peak
Performance
Attaining Peak Performance
Creating a Culture of Accountability
Set clear goals and performance standards
Measurable and objective targets
Allow sufficient time to complete tasks
Responsible for results, not just tasks
Quarterly performance review – annual appraisal
Use best practice methods
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Attaining Peak Performance
Employee Appraisals
John Blancher
•No surprises – address issues
when they occur
•Regular appraisals (quarterly work
best, but at least annually)
•Objective performance standards
•Processes and results
•Involve managers
•Employee feedback
•360-degree feedback
•Pay increases/bonuses
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Attaining Peak Performance
Understanding Employee Peak Performance Potential
Can manage others
Can develop work
processes
Can follow work
processes
Can perform tasks
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Attaining Peak Performance
Promotion Policies
Kris Wittenberg
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Opportunities for promotion
Promoting from within
Clear promotion policies
Non-discrimination
Communicate standards
Consider skills and fit
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Attaining Peak Performance
Problem Employees
•Legal issues (federal and state laws – “at will”)
•Grounds for dismissal
•Corrective action policy
1. Verbal warning
2. Written warning
3. Written suspension/final written warning
4. Termination
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Attaining Peak Performance
Dismissing Employees
1.Prepare
2.Document
3.Include a witness
4.Be brief but clear
5.Obtain signatures – release forms, benefits statements
6.Collect property
7.Final payout
8.Communicate to employees and partners that the
employee left to pursue other interests
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Attaining Peak Performance
Handling Employee complaints
• What is the complaint or dispute?
• Focus on prevention
• Create procedures for dispute resolution
• Listen and document
• Be consistent
• Maintain confidentiality
• Mediation or outside dispute resolution if needed
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Attaining Peak Performance
HR Administration
Who will handle your company’s HR?
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HR manager
Designated employee
HR consultant
Human resources outsourcer (HRO)
Professional employer organization (PEO)
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Using Outside Resources
Using Outside Resources
Who else do you need on your team?
•Accountant and CPA
•Attorney
•Insurance agent
•Consultant(s)
•IT services
•Marketing and PR
•Coaches / mentors
•Board of advisors
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Using Outside Resources
Choosing the Right Vendors
•Determine areas of specialization
• Business size
• Industry
• Areas of concern
•Find professionals
Irene Smalls
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Referrals from colleagues
Social media
Industry associations
Professional associations
•Check references
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Using Outside Resources
Questions to Ask Outside Professionals
•Small business experience
•Industry expertise
•Contract/relationship
•Non Disclosure Agreements (NDA)
•Outcomes expected and return on your investment
•Costs and Billing
•Specialties / Skills
•Availability
•References
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Effective Delegation and
Time Management
Strategic and Operational Tasks
How is your time currently allocated?
Do you spend all your time working on Operational
Tasks IN the business?
Do you spend any time working
ON the business doing Strategic Activities?
Can you delegate and / or organize
YOUR time better?
Strategic vs. Operational Tasks
Cruise Line Management vs. Ship Captain Analogy
Strategic
Operational
Not performed on ship
Advertising
Bookings
Competition
Crew Hiring
Customs
Destinations
Entertainment Booking
Menu Planning
Port of Calls
Safety
Ship Registrations
Training
Large Business
mostly separated
Small Business
overlap / shared
Performed on ship
Accommodations
Baggage Handling
Crew Evaluations
Dining Room Service
Evacuation
Meal Preparation
Navigation
Room Service
Passenger Safety
Passenger Satisfaction
Refueling
Weather Changes
Strategic (ON the business) Examples
1. Conceptualize: (Vision)
- Product & Service, Customers, Costs, etc.
2. Organize: (Structure)
- Who will do what and when?
3. Implement: (Process)
- Space, Hiring, Professional Support
4. Motivate: (Commitments)
- Clear statements of what needs to be done
5. Analyze: (Information)
- Market Opportunities
6. Adapt: (Changes For Survival)
- Anticipate continual change
Operational (IN the business) Examples
Customer Relationships
- Products, Services & Support
Time Management
- Running Business & Fixing Problems
Price & Cost Controls
- Competition & Supplier / Vendors
Employee Relations
- Satisfaction & Turnover
Record Keeping
- Input to Accounting Processes
Marketing & Advertising
- Prospective Customers
Effective Delegation and Time Management
Where Does Your Time Go?
Perform a time assessment
Track time
for 2 weeks
Assess
results
Reprioritize
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Keeping a Time Log – Measure Activities
Better Balance- Exercise 2
List 5 Strategic things to want to do
more and how you will accomplish
the change
Prioritize 1(now) – 5 (within
6 months)
List 5 Operational things to want to
do less. . .
Prioritize 1(now) – 5 (within
6 months)
10 minutes – 5 minutes to share
Better Balance- Exercise 2
Work for 10 minutes
5 minutes to share
Effective Delegation and Time Management
Time Management Tips
John Christakos, Maurice Blanks & Charlie Lazor
Find what works for you
• Choose organization/scheduling system
• Use tech tools
• Group tasks
• Focus on most profitable tasks
• Eliminate unnecessary meetings and
processes
• Get rest and relaxation
• Delegate
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Effective Delegation and Time Management
Delegate to Grow Your Business
Benefits of Delegation:
• Creates culture of accountability
• Frees business owner’s time
• Employees gain skills/confidence
• Business builds strength
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Effective Delegation and Time Management
5 Steps to Successful Delegation
1.
2.
3.
4.
5.
Eleanor Ramos
Identify key tasks to delegate
Identify employees to take on duties
Train employees
Focus on results
Provide feedback
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Hiring Practices
If you need more employees!
Assessing Your HR Needs
Outside Hiring - Prospect Sources
Dana Flynn and Jasmine Tarkeshi
•Employment agencies
•Employee referrals
•Help-wanted ads – newspapers and / or
online (Craigslist)
•Your company website
•Social networking (LinkedIn special interest
groups)
•Evaluate cost / effectiveness of the options
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Hiring Practices
Job Analysis
Start your hiring decision by writing a job analysis that includes:
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Duties
Job goals
Job requirements
Methods and equipment
Experience, skills and traits needed
Compensation
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Hiring Practices
Full-Time vs. Part-Time Employees
Full-Time Pros:
Part-Time Pros:
 More committed
 Longer hours
 Long-term development
 Lower cost
 More flexible scheduling
 May move to full-time
Full-Time Cons:
Part-Time Cons:
 Cost of benefits
 Legal issues
 Less committed
 May not fill needs
 May leave for better job
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Hiring Practices
Temporary Contracted Workers
Pros:
Cons:
 Agency assistance
 Simplified payment
 Find workers for
specialized needs
 Flexibility
 Cost savings potential
 May be less reliable
 Less committed
 No long-term
development
 Training may be needed
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Hiring Practices
Interns
Pros:
Cons:
Energy
New ideas
Low or no cost
Pay less than temps
Flexible scheduling
Can lead to full-time hire
May leave for better job
Needs more supervision
Restrictions
Legal issues – wages /hours
Can be unreliable
Scheduling issues
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Hiring Practices
Outsourcing to Independent Contractors
Pros:
Cons:
Cost savings potential
 Specialized skills
Skills for faster turn-around
Flexibility
Communication challenges
Accountability
Not sole client
Legal issues (contractor vs
employee classification)
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Hiring Practices
Remote “Virtual Office” Workers
Pros:
Cons:
Cost savings
Desirable perk
Access to specialized talent
Location not a factor
Dedication
Accountability
Communication
Teamwork
Time zones
Legal issues – other state
laws / benefits offerings
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Hiring Practices
Consider Legal and Tax Issues
Before hiring to fill your needs, understand
related legal and tax issues
Paul Cernuto
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Contracts
Non-compete agreements
Non-disclosure agreements
Independent contractor vs. employee
Hiring Practices
Consider Long-Term Needs
Based on your job description and the pros and cons of each
type of employee, consider what best fits your business’s longterm growth plans
•Most area businesses:
–Local
–Regional
•Some area businesses
–National
–Global
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Hiring Practices
The Interview Process
• Resume
Pre-Screen • Application
Tests
• Validated testing
• Pre-screen test
• Job related abilities test
• Phone
Interviews • In-person group or individual
Referrals
• Check references
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Hiring Practices
Interview Questions:
•What you can (and can’t) ask
• EEOC guidelines
• Prepare some questions in advance
•Be prepared
Marie Seipenko
•Job description/employee evaluation forms
•Open-ended questions
•Things to note
•Address candidate questions
Hiring Practices
Legal Issues
•Check references
•Background checks
•Substance testing
•Maintain records
•What you can get in trouble for
•What you can or can’t consider in hiring
•Employee agreement
•Employee handbook
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Hiring Practices
On boarding
A well-thought-out on boarding process gets new hires off on the right foot
Employment agreement
Payroll/tax paperwork
Employee handbook
Tour facility
Introduction to staff
Mentor/guide
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Hiring Practices
On boarding Generation Y - younger job seekers
Generation Y (born mid ’70s – mid ’90s) wants to:
•Be engaged
•Learn and contribute
•Get detailed guidance
•Get specific feedback
•Work with senior management
•Be creative and collaborate
•Set expectations for professional behavior in your
workplace
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Helpful Resources
Helpful Resources
Management
American Management Association: (www.amanet.org)
HRTools.com: (www.hrtools.com)
National Association of Professional Employer
Organizations (NAPEO): (www.napeo.org)
National Employment Law Institute: (www.neli.org)
Society for Human Resource Management:
(www.shrm.org)
• TalentScan: (http://talentscanapp.com)
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Helpful Resources
Tax/Legal
• Employment Law Information Network: (www.elinfonet.com)
• Findlaw’s Small Business Center:
(http://smallbusiness.findlaw.com)
• Nolo.com: (www.nolo.com)
• Occupational Safety and Health Administration (OSHA):
(www.osha.gov/dcsp/smallbusiness)
• IRS: (www.irs.gov/businesses)
• U.S. Department of Labor eLaws Advisors: (www.dol.gov/elaws)
• U.S. Equal Employment Opportunity Commission (EEOC):
(www.eeoc.gov)
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Helpful Resources
Benefits
• Benefits Link: (http://benefitslink.com)
• Business.gov: (www.business.gov/businesslaw/employment/employee-benefits)
• Healthcare.gov: (www.healthcare.gov)
• HealthInsuranceInfo.net:
(www.healthinsuranceinfo.net)
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Helpful Resources
Job Search/Outsourcing
• Careerbuilder.com
Elance.com
• Freelancer.com
• Guru.com
• Monster.com
• Odesk.com
• SimplyHired.com
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Next Steps
Next Steps
• Review the With Your Mentor handout for topics
to discuss with your mentor
• Don’t have a SCORE Mentor? Connect with one
today!
• SCORE has over 13,000 successful and
experienced executives with small business
know-how that want to help you
• Visit www.score.org for more information
Help Us Help You
Please answer the following questions:
1. On a scale of 0 - 10, how likely is it that you would
recommend this workshop to your friends and
colleagues?
2. What is the primary reason for the answer you just
gave us?
3. What is the most important improvement we could
make that would make you rate us closer to a 10?
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