I recently moderated a strategic planning session for a Texas-based developer and distributor of specialty software for the financial services industry.
For them, on the one hand it was truly the best of times: an 8 - figure revenue base and possessing of a recurring revenue business model with long term clients including some of the biggest banks and brokerage firms in the world.
But...and like many companies now in our technology fast forwarded world, serious storm clouds threatened: minimal revenue growth and more disturbingly pricing (and margins) driven down by aggressive overseas competition.
As concerning, the Company’s Founder - rightly revered for his work ethic and charismatic leadership - was uncharacteristically indecisive, waxing on a bit too nostalgically on how “easy” business was in the “old days” versus addressing today’s challenges.
So we got “stuck,” so that even in the areas where there was agreement as to the strategic and tactical changes needing to be made, the executive team just couldn’t make them (and then have those decisions stay made!).
Now, as I have found from my 15+ years of leading strategic sessions like this, at some point as often as not they turn into Interventions, defined by Webster as “becoming involved intentionally in a difficult situation in order to change it or improve it, or prevent it from getting worse.”
And, in the context of a company refining its strategic plan, the intervention (at a top level) normally involves leading the executive team through a series of “Why,” “What,” “Who” questions.
First, there are the “why” questions to re-ground us in the business’ “reason for being” and the fundamental values it brings to its stakeholders - shareholders, customers, employees, etc.
Questions like “Why do customers choose us?” and more poignantly for the team “Why do we work here?" and "Why is it important to us as individuals that this company be successful?”
As these “whys” are grappled with, strategic clarity usually emerges and the questions turn to “Whats” - to tactics, projects, deadlines, and to-dos.
As this point, everyone (finally!) starts “getting real” with each other, to who is responsible for what and more to the point is there really an accountability-based culture in place to promote and sustain high performance and positive change?
As these exercises proceed, what normally re-awakens is the understanding that the leadership team’s responsibility is to the organization as a whole, and not to any one particular individual, division, or practice area.
In this company’s case, from these exercises the hard decision was made to transition a pair of executives, as they embodied a legacy mindset and approach unsuited for the “business of the future” needed to be built.
And, as is more often the case than not, these transition conversations were more difficult in their anticipation than actuality, and as they were completed a new forward looking-energy and initiative was unleashed in the team members that remained.
I would encourage any business that feels “stuck” in any important aspect - revenue growth, cash flow, client satisfaction, culturally - to prompt a business intervention like this.
Yes, the outcomes will sometimes be difficult for specific individuals, but almost always beneficial for the organization as a whole.
Publicity is an extremely powerful form of marketing. Not only is it free, but it gives you and your business great credibility. Specifically, when potential customers hear about you in the media sources they read/watch/listen to, it gives you incredible legitimacy in their eyes.
And perhaps most importantly, it gets customers to find you and purchase your products and/or services.
There are many ways of getting publicity. And when you do get it, there are several varieties. For example, a journalist may give you a simple quote in their article. Or, they may quote you several times or attribute the entire theme of their article to you. Or, in the best case, they write an article solely about you, your company and/or your products or services.
The key point to note, even though it may be obvious, is that the more the article talks about you, the more likely the reader will seek you out after reading it.
One concern many entrepreneurs and business owners have when first considering publicity is what the journalist will write about you. However, you really shouldn't worry about this. The journalist will nearly always position your company in a positive light. But even if they don't, the saying "there's no such thing as bad publicity" is generally true.
Importantly, there's one way to accomplish both the goals mentioned above: getting publicity (particularly articles) that fully discusses you and your company AND gaining 100% control of what the article says about you.
This way is to write the article yourself.
Articles are a great way to spread the word about your company. And there's no advertising cost; just the cost of writing the article which is minimal.
What should you write about in your article?
The best articles are often short "how-to" articles teaching customers something they want or should know about.
Where should you send your article?
Send your articles to relevant newspapers, magazines, trade journals and bloggers.
Importantly, add a "bio box" at the end of your article. Your "bio box" includes your name and contact information (e.g., website address and possibly email address, phone number, etc.) so readers can easily contact you.
How to get started
The fastest way to get an article published is to submit it to an online article directory like www.goarticles.com and www.ezinearticles.com. On these websites, online searchers will find your article, and many will click on the links in your bio box that link back to your website.
Here are two important notes for using article directory websites like GoArticles and EzineArticles.
First, search through the sites to see the types of articles already written. Doing so will give you new ideas and show you topics that have already been covered too much.
Second, bigger media sources (e.g., magazines, newspapers) want original content. So, if you have a great idea for an article, pitch it to the more prominent media sources first. Since, once you publish it elsewhere, they won't be interested (although you could then pitch them on another article).
Getting your articles printed in media sources is a simple and great way to get your company in front of lots of potential customers. And, you control the message, and build lots of credibility.
And here's a tip to make this technique even more efficient - don't start by writing the article. Instead, start by simply creating an interesting article title. Then pitch the title to the editors of relevant newspapers and magazines to see if they're interested. You can call them and/or email them to find out. They may say your article title is right on, or they might suggest something a bit different. By following this advice, you'll save time since you'll only write articles you know they'll publish.
One final tip: if you don't like to write or aren't a good writer, don't worry. As long as you're an expert on the subject matter, simple dictate the article. There are tons of apps which allow you to record voice memos directly on your mobile phone. Then, upload and send your audio file to a professional writer on a site like odesk.com or guru.com who can turn your dictation into a well written article for less than $20.
Click here for more tips on publishing articles and getting tons of free publicity for your business.
People ask me what I do in winter when there's no baseball. I'll tell you what I do. I stare out the window and wait for spring. - Rogers Hornsby
One of the real privileges and joys of my life is coaching my eight and nine-year old sons' various youth sports teams.
And with springtime that means Little League Baseball.
This Saturday was a particular delight, as after playing our game, I took my sons and a few of their teammates to watch an exhibition game between a local traveling team and an all-star team from Tokyo, Japan.
These Tokyo youngsters were not just any team, as last summer they won the famed Little League Series, prevailing in a 16-team tournament that started with over 30,000 teams from 75 countries.
Watching youth baseball at any level is a treat, but the team spirit, precision, and respect with which the Japanese kids played the game was mesmerizing.
And for those that subscribe to the view that the "American Way" has come too much to mean "everyone gets a pat on the back and an attaboy for trying” - with a deleterious impact on our competitive drive - well then the contrasting styles (and results) between the American and Japanese teams were proof positive for that view.
A few vignettes:
- After each inning, the Japanese youngsters would sprint off the field into an attentive semi-circle around their coach, remove their hats as a show of respect, and stand quietly with eyes up as their coach instructed them for the inning to come.
- While, when their teammates were at the plate, the American players too often sat and chatted in their dugout, the Japanese players were on their feet, attentive and cheering.
- When an umpire called a close play against them, there was no eye-rolling, no demonstrative shoulder shrugging, only a fast hustle back to the dugout.
- At the end of the game, the Japanese players went to each section of the crowd and collectively bowed and thanked the spectators for attending and cheering.
- And my favorite as a beleaguered youth coach constantly searching for lost gloves, hats, and gear from my notoriously absent-minded players, all of the Japanese players' was exactingly lined up, cleanly packed, with a stray ball nowhere in sight.
- Perhaps a bit more controversially, when one of the Japanese players made an error (remember these are 11 and 12 year old boys!) instead of a "get the next one" as would be typical for an American coach, from the dugout came a roar and that player sprinted off the field, replaced and not seen for the remainder of the game.
Yes, here was a team that played the game with hustle, teamwork, respect, and an awesome will to win.
And well beyond baseball, isn’t that the kind of team that any manager in any field of endeavor would be thrilled and honored to lead?
And wouldn’t that be a team - just like those Japanese boys vanquishing 30,000+ teams on their way to a championship - that would just crush the competition?
Yes, this is of more than just passing cultural interest, as in our modern market the consequences of weak performance come harsh and fast - talented global competitors ready and eager to pick off dissatisfied customers, flaming online reviews diminishing reputations and brands, margins squeezed from above by customers unwilling to pay much for mediocre experiences, and from below by a fatness encouraged by a usually defended as virtuous managerial "light-handedness."
Please let me stop and stress that this is not a “Fuddy-Duddy” formulation, blaming the "kids" for all the ills of the world.
Having now coached a lot of American children and managed as many American young people, I assure you they all want and respond well to expectations of hard work, decorum, and measurable, concrete results.
No, it is the leaders and managers of organizations that need to do the daily hard and energetic work of setting team and individual objectives, of rewarding great performance and setting consequences for results that are lacking.
The great news is that not only does a higher accountability, "tough love" culture like this lead to better results (of course), not only is it more respectable to all the stakeholders of an organization, but...
...it also creates the best kind of fun.
The nutritious fun of working hard toward a goal and accomplishing it.
Of delivering more and more “low cost, high quality” value to customers.
And just like those Japanese baseball players, the fun of winning in the places that matter most, on the scoreboard and on the bottom line.
It’s been 17 years now since I started working with entrepreneurs. Over this time, I’ve seen lots of successes, and unfortunately lots of failures.
So, I started thinking, “what is it about those entrepreneurs who have achieved the most success? What are their common attributes and skills?”
While the initial list was pretty large, when I boiled it down, there were 5 common attributes or skills that the successful entrepreneurs all had. I’ve listed them below.
1. Vision & Leadership: Entrepreneurs must have a vision of where the company will be in the future. In addition, you must be able to communicate your vision so you can motivate employees, investors, and partners to help you achieve that vision.
You must be able to identify staffing needs, expertly fill them, and lead your team to success. Rarely (actually never) do entrepreneurs build successful companies all by themselves.
2. Focus & Execution: Entrepreneurs must focus to make sure that goals are achieved, customers are satisfied, and employees are motivated.
For most entrepreneurs, staying focused is harder than it sounds. Be careful not to be seduced by the next exciting opportunity without executing on the priorities at hand. And don't let perfectionism prevent you from taking action, either; at the end of the day, a product on the market is better than a product shelved due to lack of focus, execution, or perfectionism. Get to market and get feedback from your customers as soon as possible.
3. Persistence & Passion: As an entrepreneur, you must be passionate about what you are trying to accomplish. In addition, you must be willing to commit whatever is needed of them, whether it's time, energy, money, or other resources.
You must persist through trying times (which will be frequent), and fight as much as needed to achieve the goals you have set for yourself and your team. I’ve never met an entrepreneur who didn’t struggle through hard times on their path to success. So, don’t give up when hard times hit you.
4. Technical skills: As the owner of your firm, you may not need to be the most skilled technician on your team. But you need to have necessary foundational knowledge to be able to lead your technical team and make informed decisions.
For instance, in my dashboard business, I can’t technically build most dashboard charts myself. But I know the metrics that must be plotted. And I understand the basic framework with which charts are built. As a result, I know whether a certain chart is feasible and approximately how long it should take to create. This is the information I need to effectively lead the organization.
5. Flexibility: Successful entrepreneurs understand that the world and the environment in which they operate are constantly changing. While you must focus on the end game, you also must adapt your strategies and offerings to meet changing market conditions.
Remember that many successful companies resulted from flexibility, particularly when their first idea didn’t pan out. Such as PayPal, which radically changed its business concept when its core technology of allowing one PalmPilot to pay another wasn’t gaining enough traction.
So, be persistent to a point when something’s not working. But realize that change and flexibility might be required.
The good news is that each of the above traits and skills can be acquired. You can teach or force yourself to be more flexible. You can set goals and give them laser focus. And so on. Make each of these attributes a habit, and you will have no choice but to achieve the success you desire.
The fox knows many things, but a hedgehog knows one big thing.
- Ancient Greek Aphorism
Isaiah Berlin, in 1953, famously referenced this as a jumping off point for an essay on the relative importance of two kinds of knowledge, on the one hand that of principles and ideas, and on the other hand that of "ways of the world," street smarts, and technique.
I was reminded of it recently by an old and wise colleague, as we were evaluating an investment opportunity, and the relative importance of the executive team’s operating experience versus their big picture strategy and growth model for the business.
His point was that while those executives were certainly “foxes” - great resumes, hard workers, and excellent communicators - they were lacking as “hedgehogs,” pursuing an inefficient and difficult to scale business model.
We passed on the investment.
And it occurred to me how so many of us think and work like them - tens of millions of knowledge workers all over the world that know and do a lot of “little” things - how to code, talk, email, text, post, and tweet, but how too often doing so crowds out the "Deep Work" necessary to arrive at and execute upon business models that scale.
Perhaps the most vexing "focus" challenge of modern business, but for the disciplined executive one surprisingly easy-to-overcome through asking one simple question:
Does a particular bucket of stuff really make me and my company money or does it not?
Because focusing on making money almost always means focusing less on:
And more on:
And when we reflect on it, isn't this not just the stuff that makes us money, but is also the stuff we almost always enjoy and find the most fulfilling?
Isaiah Berlin's full "The Hedgehog and the Fox" essay can be read here.
Timeless, ancient wisdom worth applying to our frenetic, modern day.
The other day, my wife came home from a meditation class with a sheet of paper. On it was a verse written by Mother Teresa. Supposedly, these same words were written on the wall of Mother Teresa’s home for children in Calcutta, India. They were as follows:
While I believe these words to be true for all people, I find them especially relevant for entrepreneurs.
As entrepreneurs, we have elected to take on a challenging life, and a business life that is clearly harder than that of the average worker. We must constantly take risks, and success is never guaranteed.
As a result, to succeed as an entrepreneur takes a special mindset and commitment. Thinking and acting like an ordinary individual will get you ordinary results. And ordinary results just don’t cut it as an entrepreneur. Unless you act extraordinary, you can’t possibly achieve the success you desire.
This being said, below are my entrepreneurial comments and thoughts to Mother Teresa’s writings.
People are often unreasonable, illogical, and self-centered.
Forgive them anyway.
These people may be your customers, your employees, your investors and/or your family (who I will hereafter call your “constituents”). Forgive such actions when you come across them. And try to surround yourself with people who don’t do them.
If you are kind, people may accuse you of selfish, ulterior motives.
Be kind anyway.
Be kind to your constituents. If not, they will not follow you.
If you are successful, you will win some false friends and some true enemies.
Some of your current constituents will not want to see you succeed. Succeed anyway. And create a new group of constituents as needed (perhaps a peer group or Board of Advisors) of successful people you want to emulate and who DO want you to succeed.
If you are honest and frank, people may cheat you.
Be honest and frank anyway.
Be honest in all your dealings with your constituents. Entrepreneurs who cheat never win; it always catches up with them. If someone does cheat you, learn from it and don’t let it happen again (yet still be frank and honest).
What you spend years building, someone could destroy overnight.
As an entrepreneur, your job is to build, build, build. Build a great company. But while building, think about ways that others will NOT be able to “destroy” you. For example, a business model in which you have customers on a subscription plan (think mobile phone service providers) is very hard to destroy. Always think about ways in which you can “lock up” customers, employees and other constituents. How can you make it so that they’ll never want to leave you?
If you find serenity and happiness, others may be jealous.
Be happy anyway.
Yes, when you achieve success as an entrepreneur, many others will be jealous. And many will call you “lucky.” Yes, you’re “lucky” because you have the right attitude and mindset that allowed you to work hard and persevere. And you’re “lucky” because you invested your time reading articles (like this one) and learning the skills you needed to become a successful entrepreneur.
The good you do today, people will often forget tomorrow.
Do good anyway.
Keep doing good to your constituents. Doing good once is not enough. Continue to astound your customers, employees and others so they follow you to the finish line.
Give the world the best you have, and it may never be enough.
Give the world the best you've got anyway.
To succeed as an entrepreneur, you need to give 100%, and keep giving it. Never surrender. Never back down. Rather, persevere and make it happen. And if the best you have isn’t enough, then get others (advisors, peers, employees) who can give alongside you so collectively you ARE able to give enough.
You see, in the final analysis, it is between you and God.
It was never between you and them anyway.
Succeeding as an entrepreneur is more about you succeeding within yourself and less about you beating out a competitor. If you are thinking and acting the right way, you will naturally surpass your competition and achieve great success.
Right now is the time for you to “do it anyway” and become the successful entrepreneur you’re capable of becoming!
Don’t chop water when you should be carrying wood.
- Old Zen Proverb (updated for the 21st Century)
Last week, I wrote about the connection between vision, strategy, and action in a business, and how great organizations find the balance between:
a) Making the right changes at the right time and
b) Having the discipline to “keep on keeping on” and just doing more of what is working.
Note well that b) is particularly hard to maintain when the tasks and activities that ARE working become repetitive and lack in excitement and drama.
So how does do executives find this balance - between being creative and just keeping their heads down and plowing forward?
Well, luckily in the past few years a large and impressive business literature has sprung up that codifies best practices of how to find this all-important balance.
It can best be summarized by the phrase “immersion plus spaced repetition” and goes like this:
1. Everything, of course, begins with ideas, with the best ones arising from a series of introspective strategic planning and goal-setting sessions that clarify objectives and the obstacles standing in the way of their accomplishment.
This immersive process - done at least annually but at the best companies quarterly - both defines what needs to be done and inspires all to take on the hard work of getting it done.
The value of inspiration cannot be underestimated – Thomas Edison famously said that “genius was 99% perspiration and 1% inspiration” but that 1% “spark” is uber-critical in propelling an organization through the various thresholds of change.
2. But, as anyone that attended an exciting or invigorating conference or strategic planning session can attest (and as I am sure Mr. Edison reflected on often during long nights at the lab), inspiration fades over time.
Even worse, when the inspiration is not followed through on, cynicism can set in and actually leave an organization worse off than if the planning sessions were never done in the first place!
So how to avoid this distressing fate?
3. Well, by keeping the ideas, goals, and objectives of the planning session alive through their regular review and adjustment.
Think of it this way - if a well-run strategic planning session is the essence of good leadership, then repetitive goals reviews are the essence of good management.
Great managers check in with their teams as often as daily - if only for 5 or 10 minutes - to review the day’s objectives and to keep the shorter term work flow aligned with the longer term planning and mission objectives.
The old adage that the only way to eat an elephant is one bite at a time is never more true than when is comes to these spaced and repetitive management check-ins.
When done right, they measure, acknowledge, and reward incremental progress and prevent the desire for the perfect from getting in the way of the doable and the done.
Then, the organization reconvenes and reviews progress against stated goals, assesses what worked and what didn’t, and then refines and updates the key goals and objectives.
And after this next round of strategic planning, what is done?
Well, the spaced and repetitive management check-ins begin anew.
Wood is chopped, water is carried.
Following this simple but disciplined formula, over time great ideas become great realities, businesses are built, and legacies and fortunes are made.
And for investors, far more than technology these “above the line” leadership, management, and company culture disciplines separate the well-run companies to back from the disorganized ones to avoid.
So what are you waiting for?
In writing his book, "Rich Habits - The Daily Success Habits of Wealthy Individuals," author Thomas C. Corley studied the daily habits of hundreds of wealthy and poor people.
He defined wealthy people as those earning at least $160,000 annually and owning assets of at least $3.2 million. Conversely, he defined poor people as having an annual income below $30,000 and less than $5,000 in assets.
Read below to see the stark differences between the two groups.
1) Maintain a to-do list
Answer for successful entrepreneurs: Maintain a To Do List
2) Wake up 3+ hours before work
Answer for successful entrepreneurs: Most entrepreneurs pretty much work all the time, and clearly work more than the general 9-5 work day. I prefer highly organized work to a ton of work. But either way, you need to put in the hours to succeed as an entrepreneur.
3) Listen to audio books during commute
Answer for successful entrepreneurs: Educate yourself during your commute. EVERY single one of the video training products I offer has an audio download component so you can listen to them during your commute. Yes, I did this on purpose.
4) Network 5+ hours or more each month
Answer for successful entrepreneurs: Network more. Networking is a great way to meet great people who can become: investors, mentors, advisors, customers, employees, partners, etc. If you need more of any of these things, then network more.
5) Read 30+ minutes or more each day
Answer for successful entrepreneurs: Read at least 30 minutes each day. Here I’m probably preaching to the choir, since you’re reading this essay of mine - good job!
6) Live a healthy lifestyle
Eat less than 300 junk food calories per day
Exercise aerobically four days a week
Answer for successful entrepreneurs: Treat your body well. You need the physical and mental energy to succeed.
7) Use television smartly
Watch one hour or less of TV every day
Watch reality TV
Answer for successful entrepreneurs: Don’t watch too much television and when you do, don’t watch garbage.
The final, and most important habit for the world’s wealthiest entrepreneurs is that they have built and sold their companies. Of Americans with a net worth of $5 million or more, an overwhelming 80% of them are entrepreneurs who have sold their businesses.
So, in summary (and feel free to print this out):
1. Maintain a To Do list
2. Wake up early/work hard
3. Listen to audio books during your commute
4. Network more
5. Read 30+ minutes each day
6. Maintain a healthy lifestyle
7. Don’t watch too much (or garbage) television
8. Build a sellable business
When you think about it, none of this is really that hard. Yes, YOU can do it!
Every business needs a vision - a clear definition of what its leadership seeks the business to become.
And every business needs a strategy - a road map of how the business will reach its vision.
Once the vision and strategy are clear (and yes, this is hard), the next step is action planning – the day-by-day mapping of how all of this good but sometimes theoretical “stuff” will actually get done.
This, involves determining which projects will be completed (and as importantly, which ones will NOT be done), by whom and when, and how many resources - work hours, money, and assets - will be required.
Now, this is lovely for the whiteboard but what a company's strategic plan more often than not looks like is this:
Unclear, Unshared Vision. With all the time most management teams spend talking to each other, it's surprising how often they have different pictures of what everyone is supposed to be doing and in what direction they are supposed to be heading.
It's the hard and repetitive job of leadership to repeatedly communicate the plan (i.e. the vision, the strategy, and the day-to-day road map of how to get there) until all are on the same page.
And then rinse and repeat.
Planning Once Per Year, Out Of Routine. So many of us, right around New Year, think about our personal goals for the year ahead.
Similarly, many businesses work on their yearly plan during the same month of every year.
And then they forget about it.
The best businesses, in contrast, create, refine, and live their business plans in real time, every day.
Yes, this is hard, now more than ever because of…
The Tyranny of the Urgent. A HUGE challenge to executives and businesses attaining greatness is how difficult it is, because of technology, to not let those “urgent, but NOT important" activities dominate our days.
More than ever, we must fight for the time and attention to do the great and important work, and block out those insidious distractions everywhere and always around us.
No Process or Methodology For Strategic Planning. A best practice is to focus on vision and strategy in one set of sessions, and then on the day-to-day action planning, accountabilities, and progress measurements in another.
In discussing vision and strategy, we are in creative mode, exploring any and all options and ideas.
In contrast, figuring out action plans and accountabilities are best suited for separate, more “Tough Love” and analytical-type meetings.
With appropriate time set aside for vision, strategy, and action planning, a business can experience the collective joy that comes from knowing exactly what it is striving toward and how it will get there.
Everyone at the business will feel more grounded, balanced, and centered.
Being so all will come to work with greater purpose and passion.
And, at the end of the year, we will all have far more to show for our efforts.
Great leaders delegate. They get other people to do the work for them. They focus on vision and strategy, and getting their people to perform at their highest possible level. And when their people perform, the company executes on the strategy and achieves its vision.
While much about leadership has been written over the years, much of it has changed. Because many of the old rules and strategies, such as the “it’s my way or the highway,” strategy no longer apply. People are different today than they were even a decade ago. We have different needs and thinking, and nurturing your team to get them to perform is more complex.
In fact, when it comes to outsourced employees, leadership is even more complex. Because when you can’t look your employee in the eye, it’s hard to tell if they’re bought into your strategies and goals, and if they will perform to your standards.
What makes this so more important is that any good HR strategy nowadays includes outsourcing. Because outsourcing certain roles allows your company to achieve great progress at a significantly lower expense, and without increasing your fixed costs which decreases flexibility.
This being said, the following are five things a great leader would never do when managing their outsourced employees.
1. Rely exclusively on email. Email is generally the easiest way to communicate with outsourced employees, particularly if they live in different time zones. However, email is rarely the most effective communications method, particularly when you want to motivate people. Rather, make sure that occasionally you also use telephone calls and video calls using services such as Skype. By seeing your employee, and having them see you, you can gauge and influence their levels of engagement and excitement.
2. Give vague directions. If someone’s seen you do something several times, and then you ask them to do it, they might do a good job. But if someone’s never seen you do something, particularly when they don’t work in your office, they’ll generally fail wildly. Unless, that is, you give them precise directions. When you outsource a task, be sure to document precisely what you want done and why. This will guide the employee and set expectations for them to meet.
3. Wait to see finished work. When you outsource a project to someone, don’t wait until the end to judge their work. Rather, check in periodically. Ideally, break the work into pieces. For example, if an outsourced employee is responsible for creating a video, natural pieces or project stages might include: 1) writing the video script, 2) sketching or finding the images to be included in the video, 3) creating a video draft, 4) finalizing the video. If you wait to see the final video, you inevitably will be disappointed. Rather, check in after each stage and provide feedback. The end result will be infinitely better.
4. Fail to set deadlines. Employees, particularly outsourced employees who don’t see you, need deadlines. If not, they’ll generally take way too long to complete a task. When employees work in your office, they should have deadlines too; but, because you see these employees, if there is a deadline, you’ll simply remember to tell them. You don’t have this luxury with virtual employees, so make sure they know the deadline for each of their projects.
5. Fail to give time expectations. Even when you set a deadline, you still must set time expectations, particularly if you are paying your outsourced employee on an hourly basis. While two people can both complete a project in a week, for example, you’re clearly paying a ton more if one worked ten hours per day and the other two. So, at the beginning of each project, have the employee give you an estimate of the work hours, and have them check in periodically to let you know if their estimate is on track or not.
When you outsource properly, you can dramatically grow your company at a fraction of the cost as your competitors. But, make sure you avoid these leadership mistakes; when you do, you can effectively manage your outsourced workforce to get the most benefit from this key HR strategy.