Human Capital

How would it feel to shorten the time to productivity? Why does someone need to do their job the way they do? How can people become productive faster? Introduction: As a small business owner, you wear many hats. You’re the visionary, the marketer, the accountant, and often, the HR department. However, having the right people in the right roles is key to your success. It’s not just about filling seats; it’s about aligning talent with the demands of each department. This is where Kolbe comes in – a powerful tool that can help you unlock your team’s natural strengths and optimize your business’s performance. The Problem: Mismatched Skills and Frustration We’ve all seen a detail-oriented person struggling in a fast-paced, idea-generating role or a creative mind bogged down by rigid processes. Mismatches like these lead to frustration, decreased productivity, and, ultimately, higher turnover. This is especially damaging in a small business where every team member’s contribution is crucial. You might be tempted to use traditional methods, like resumes or personality tests. While these have their place, they don’t always get to the heart of how someone naturally gets things done – the key information the Kolbe A™ Index provides. Enter the Kolbe A™ Index: Understanding Your Team’s Conative Strengths The Kolbe A™ Index isn’t about measuring intelligence or personality. It measures a person’s conative strengths – their instinctive method of taking problem-solving action and getting things done. It reveals how they prefer to: Fact Finder: Do they need to gather data or rely on intuition? Follow Through: Are they good at meticulously executing plans, or are they more adept at improvising? Quick Start: Do they prefer to start new processes or refine existing ones? Implementor: Are they good at taking something complex and making it simple, or are they adept at handling intricate details? The Kolbe Index places you on a spectrum for each mode of action and gives you a number (ranging from 1-10) for how you naturally prefer to act within each mode. Map Roles to Kolbe Strengths: Now it’s time to analyze the demands of each department and role within your business. For instance: Marketing: You might look for individuals with high “Initiator” and “Fact Finder” scores. Operations/Production: This might be an area for those with a stronger “Follow Through” style. Sales: Those with a strong mix of “Initiator” and “Implementor” could excel here. Accounting/Finance: Look for those with a high “Follow Through” preference and a strong preference for “Fact Finder”. Open the Dialogue: Have open and honest conversations with your team. Share their Kolbe results (with their permission) and discuss how their strengths align (or don’t align) with their current role. Make Strategic Adjustments: Consider making adjustments based on the Kolbe results and those conversations. This might mean moving someone to a different department, shifting responsibilities within a team, or modifying a team member’s workflow to better utilize their strengths. It’s critical to remember that this is not a tool to punish or demean anyone but to place them in their best role, where they can thrive. Embrace Team Diversity: Each Kolbe profile offers unique strengths and values. A team of people working in the exact same way is not as effective as a team that balances diverse strengths. Benefits of Using Kolbe in Your Small Business: Increased Productivity: People who work within their natural strengths are more efficient and engaged. Reduced Frustration: Fewer mismatches mean less frustration, which leads to improved morale. Lower Turnover: Happier employees are less likely to leave. Improved Team Collaboration: When people understand how their teammates approach work, they can collaborate more effectively. Enhanced Problem Solving: A well-balanced team with diverse Kolbe profiles can tackle challenges more creatively. Better Decision-Making: Understanding the different ways each person naturally approaches a problem can lead to better decision-making in the long run. Rethink your Growth and Exit Planning: As a small business owner, you’re constantly looking for ways to optimize your operations and create a thriving work environment. Using Kolbe is not about forcing square pegs into round holes. It is about understanding the natural approach of your team and putting everyone in a place where they can thrive. Investing time and resources to understand your team’s conative strengths will pay dividends in increased productivity, happier employees, and, ultimately, a more successful business. So, take the first step, explore the power of Kolbe, and watch your team’s potential flourish. Call to Action: Are you ready to understand the power of your team’s strengths? It is important to have a Certified Kolbe Consultant guide you on how to use this data to attract, engage, and develop your team so you can grow and exit on your terms.

A robust leadership pipeline is crucial for any business, but it becomes particularly vital when preparing for a business exit. Whether you’re planning a sale, merger, or leadership transition, ensuring that your leadership depth is strong can significantly enhance the attractiveness and value of your business. This HR Insight explores how strategic human resources management can cultivate leadership depth to support a smooth business transition. The Importance of Leadership Depth in Exit Planning Leadership depth refers to a company’s ability to fill key leadership roles from within, ensuring business continuity and operational stability. For businesses considering an exit, strong leadership depth reassures potential buyers and investors of the company’s resilience and future performance potential. A well-prepared leadership team can effectively manage transitions, uphold company values, and drive growth, even during periods of change. Strategies for Developing Leadership Depth Leadership Development Programs: Implement comprehensive leadership development programs tailored to your company’s needs. These programs should focus on nurturing high-potential employees with critical skills such as strategic thinking, decision-making, and change management. Methods might include formal training sessions, mentorship programs, and leadership retreats that emphasize real-world business challenges and leadership responsibilities. Succession Planning: Effective succession planning is essential for ensuring that key positions can be filled quickly and competently. HR should work with current leaders to identify potential successors for each critical role. This process includes assessing the skills and readiness of potential leaders and providing targeted development opportunities to prepare them for future roles. Talent Identification and Management: Use talent management tools and assessments to identify employees who have the potential to become future leaders. Once identified, provide these individuals with customized development plans that align with their career aspirations and the company’s strategic goals. This approach not only prepares them for leadership roles but also helps retain top talent by actively investing in their career growth. Performance Management: Align performance management systems to leadership development goals. Regular performance reviews and feedback sessions help potential leaders understand their strengths and areas for improvement, ensuring they are on the right track to taking on more significant roles within the company. Cultivating a Leadership Culture: Foster a culture that promotes leadership from every level of the organization. Encourage employees to take initiative, lead projects, or mentor others. This environment supports leadership development organically and can identify and elevate hidden talents within the organization. The Impact of Leadership Depth on Business Valuation A strong leadership team can significantly enhance a company’s valuation during an exit. It demonstrates to potential buyers and investors that the company is well-managed, has a clear direction, and is capable of sustaining growth without the original owner or current leadership team. Additionally, companies with effective leadership transitions are more likely to maintain performance levels during and after the exit process, reducing risks associated with the transition. Developing leadership depth is not just about filling positions but about creating a sustainable framework that supports the company’s long-term goals and ensures a legacy of success. As businesses prepare for exit, the role of HR in cultivating this environment becomes a cornerstone of strategic exit planning. By investing in leadership development, companies not only enhance their marketability and potential sale value but also secure a stable and prosperous future for all stakeholders. At Tagro Solutions, we bring our deep expertise in Human Resources consulting to the table, aligning HR strategies with business objectives to enhance company performance and prepare for successful transitions. Our approach integrates seamlessly with the philosophy of the Exit Planning Exchange, which fosters collaborative exchanges of information and experiences among its members. Together, we aim to empower business owners through strategic insights and actionable solutions, making the journey from business operation to exit as profitable and smooth as possible.

Handed-down recipes are part of the time-honored processes and traditions we cling to. But just like in cooking, sticking too rigidly to “grandma’s secret recipe” could mean missing out on discovering a version of the next culinary masterpiece!  Give your team the freedom to experiment, adapt, and sometimes throw out the recipe book altogether. Let’s stir things up and talk about the “kitchen” of innovation—your business. Your team’s collective creativity and unique blend of skills are the secret ingredients that can transform a good dish or idea into an exceptional one. You must trust the innovation process, encourage culinary rebellion, and watch your team cook something truly extraordinary. Stepping Outside the Recipe Box Inspires Innovation In business, as in life, the well-trodden path can feel comfortable and safe. Established practices are like cozy blankets, offering the warmth of familiarity. However, by stepping outside our comfort zones and embracing the unfamiliar, businesses and individuals could unlock a world of creative possibilities that can lead to groundbreaking solutions. Comfort Zone vs Creativity The familiar “that’s how we’ve always done it” approach kills creativity. While some routines can breed efficiency, they rarely foster the deep, lateral thinking required to solve complex problems in unique ways. Creative solutions are born from questioning the status quo and daring to believe there might be a better pathway forward. A Dash of Chaos, a Sprinkle of the Unexpected Chaos isn’t always the enemy of progress; sometimes, a little disorder is needed to stir the pot of creativity. Consider mixing departments for brainstorming sessions that could lead to unexpected, innovative solutions, bringing together different areas of expertise because they don’t typically work closely!  The insights gained from experiences outside their regular roles can spark brilliant ideas that may never have surfaced otherwise. Cross-Disciplinary Thinking One of the most exciting aspects of venturing beyond your comfort zone is the potential for cross-disciplinary ideas. Innovators like Steve Jobs were renowned for drawing inspiration from diverse fields, such as calligraphy 1, to inform computer design. So, jot down those “unconventional” ideas in meetings. Roll them around, play with them, and see where they take you. They might become disruptive innovations that differentiate your business in a crowded marketplace. Learning from the Outliers History is peppered with examples of businesses, such as Amazon, American Express, and Netflix, that chose the path less followed and, as a result, redefined their entire industry 2. These outliers didn’t achieve such feats by closely following the recipe laid out by predecessors. Instead, they carved their own paths, sometimes through fields entirely unrelated to their primary goal. Outside the Box Potential Stepping outside the box is an invitation to spark new ideas, tap into unexplored abilities, and produce creative solutions that reframe the possibilities of what can be achieved. When we step outside our normal routine or method, we open the floodgates to fresh ideas and perspectives that propel the business forward. Conclusion Remember, innovation isn’t just about the end result but also the journey. To fuel your people power, you should take a step outside the box — the future is bright with the ingredients of innovation. The

As small business owners and leaders, we’re no strangers to the daily grind of comparison and competition. It’s easy to look at the success of others and wonder if we measure up. But this Thanksgiving, we’re taking a page out of Heather Holleman’s novel1, “Seated with Christ: Living Freely in a Culture of Comparison,” and the transformative words of Ephesians 2:6: “God raised us up with Christ and seated us with Him in the heavenly places in Christ Jesus.” In the hustle to prove our worth and carve out a place in the market, realizing that your seat at the table is already secured is revolutionary. This isn’t about your turnover, your team size, or the number of followers on social media. It’s about recognizing the value you bring to the table just by being you, backed by the firepower of your determination, creativity, and the unique vision only you possess for your business. The Overlooked Seats Comparison is the thief of joy in business, and it’s also the thief of innovation and growth. The environment of inauthentic seats fuels comparison, the moment you and your team stop eyeing the lane beside you is the moment you turbocharge your path forward. Your business isn’t like anyone else’s—for a reason. The individual strengths and talents within your team are your biggest asset, waiting to be unleashed. Recognize and harness the power of these unique capabilities to drive people-powered change. A Secure Seat on The Team Your team—the one you’ve built, trained, and grown—holds untapped potential. Just as we are seated with Christ in a place of honor and security, so too should our team members feel valued and vital to our mission. This Thanksgiving, let’s take a moment to express genuine gratitude for the diverse skill set each member brings to the table. When people feel valued, they’re more engaged, productive, and innovative. And that’s how a small business not only survives but thrives. The Power of People-Powered Change FIREPOWER Teams is founded on the belief that the power of a small business lies in its people. “Fuel your people power” isn’t just a motto; it’s a mission statement and a call to action. Reflect on how you can empower each team member to contribute their best this holiday season, fully aware that their seat at the table is as non-negotiable as yours. Thanksgiving is a time of gratitude, reflection, and community. As business owners, it’s a prime opportunity to reassess what we’re thankful for and how we express that gratitude through our actions and leadership. Let’s enter this season with a renewed commitment to value ourselves, our team, and all our unique contributions. Let’s reject the ceaseless comparison and instead focus on fostering an environment where everyone feels seated at the table—secure, valued, and ready to make a difference. The entrepreneurship journey is rarely easy, but with a team that genuinely feels like their efforts matter, there’s untold strength to be garnered. Your business, team, and vision have a secured seat at the table. Let’s give thanks for that incredible opportunity and the journey ahead. Conclusion Remember, the most sustainable growth comes from within. Thanksgiving is a time to rekindle our appreciation for the value we each bring to the table, reminding us that when we work together, there’s nothing we can’t achieve.

Halloween isn’t just a time for ghosts and goblins; it’s also a perfect moment to explore those spine-chilling hiring stories that haunt every small business owner’s dreams. At FIREPOWER Teams, we’re all about turning fears into cheers by empowering actionable strategies and strengthening teams. Let’s face the horrors—a bad hire can lurk in the shadows, embodying the kind of nightmares that disrupt teamwork and stifle growth. But fear not! As you learn about these ghastly characters, remember that each horror story comes with a silver lining: a powerful lesson to enhance your hiring process and bolster your team dynamics. The Vampire – The Energy Drainer Traits: This hire sucks the positivity and energy out of your team, often leaving colleagues drained. Impact: Reduced team morale and productivity. Prevention: During interviews, ask behavioral questions that help you gauge a candidate’s influence on team dynamics. Consider including team members in the hiring process to assess chemistry. The Zombie – The Disengaged Traits: Goes through the motions but lacks initiative and passion. Impact: Minimal contribution to team goals and lack of contribution to goals. Prevention: Look for candidates who ask questions about company culture and show enthusiasm for the role because the job description accurately reflects the role’s responsibilities and opportunities for growth. The Mummy – Stuck in the Past Traits: Resistant to change and new ideas, insisting on doing things “how they’ve always been done.” Impact: Hinders adaptation and progress. Prevention: Look for candidates willing to learn new things. Ask them about situations where they had to adapt quickly or change their approach to succeed. Hiring Doesn’t Have To Be A Nightmare Each of these eerie archetypes teaches us that hiring is not just about filling a vacancy but about enriching our teams and aligning with our core values. Hiring should be strategic, and at FIREPOWER Teams, we understand that the right people are the lifeblood of any thriving business. Each new hire should contribute positively to the team’s dynamics and the company’s mission. Remember, hiring doesn’t have to be a nightmare. With the right tools and insights, you can spot red flags early and attract talent that fits the role and elevates your entire team. Let’s turn these horrors into opportunities. Happy Halloween, and here’s to making every hire a treat, not a trick! Maria Forbes and 

In recent years, workplace discussions around diversity and inclusion have gained unprecedented momentum. Unfortunately, one facet of this multifaceted issue often gets overlooked: ageism. By dispelling negative ageist cliches, we not only uphold the dignity of older workers, a fundamental aspect of respect, but also unleash the full potential of an experienced workforce. This shift in perspective can lead to a more inclusive, dynamic, and productive work environment where the wealth of knowledge that older employees bring is embraced and celebrated. The Reality of an Aging Workforce The statistics are clear 1. By 2031, workers aged 55 and older will make up over 25% of the U.S. workforce. Additionally, 41% of American workers plan to work beyond 65. These figures underscore the urgent need for a shift in perspective, as many companies overlook the wealth of experience and knowledge this demographic can bring to their team. The Impact of Negative Ageist Cliches Ageism, stereotyping, prejudice, and discrimination against individuals or groups based on their age are particularly pernicious in the workplace. Older workers often battle stereotypes that paint them as being out of touch, slow to adapt to new technologies, or less productive than their younger counterparts. These misconceptions can have profound effects for an individual and lead to an imbalance of problem-solving wisdom.  Bias of any kind will hurt the organizational bottom line.  Without a diverse workforce, an organization has too much of a good thing.  Leaders must be cognizant of the potential loss of valuable institutional knowledge, a crucial factor in organizational continuity. 1. Detriment to Team Member Morale and Motivation Persistent undervaluation of older workers can significantly impact their motivation and engagement. When employees feel dismissed or underestimated because of their age, morale, productivity, and ability to connect with their teams, decrease. This is harmful to both the individual and the organization. Age discrimination is real 2. Two out of three workers between ages 45 and 74 say they have seen or experienced age discrimination at work, and job seekers over age 35 cite age discrimination as a top obstacle to getting hired.  If you happen to work in the high-tech industry, your chances of experiencing age discrimination are even higher. 2. Lost Opportunities for Knowledge Sharing One of the most significant losses when older workers are sidelined is the missed opportunity for cross-generational knowledge transfer. Seasoned employees possess a wealth of experience, insights, and skills honed over years of service. This depth of knowledge is invaluable, particularly when paired with the fresh perspectives and tech-savviness of younger employees, creating a powerhouse of innovation and problem-solving capabilities. 3. Diminished Diversity and Inclusivity True diversity and inclusivity extend beyond ethnicity, gender, or sexual orientation and should encompass age.  A workforce that appreciates and leverages the strengths of employees across the age spectrum is more representative of society and is better positioned to respond to the needs of a diverse customer base. Older Workers: A Valuable Resource 1. Rich Experience and Expertise Older workers bring an unparalleled level of expertise and experience. Their years in the workforce equip them with a nuanced understanding of their industry, a comprehensive knowledge of company history, and a network of connections that can be leveraged for strategic advantages. 2. Stability and Reliability Older employees can often be depended on to present greater stability and reliability than their younger counterparts. They tend to have lower turnover rates, which translates to reduced hiring and training costs. Their dedication and loyalty to their roles contribute to a stable workforce, which is critical for long-term planning and growth. 3. Mentorship and Leadership Older workers are invaluable resources for mentorship and leadership within organizations. Their insight and guidance can help nurture the next generation of professionals, ensuring a legacy of knowledge and skills that support the company’s future success. In Conclusion, Embracing an Age-Diverse Workforce is a Competitive Advantage As the American workforce continues to work later into life, employers must make a concerted effort to create a workplace that values and promotes age diversity. Debunking negative ageist cliches and recognizing the invaluable contributions of older workers are essential steps toward building more inclusive, innovative, and successful organizations. By tapping into unique strengths and perspectives across the employee age spectrum, companies can enhance their competencies and competitiveness and foster a culture of respect and appreciation for a workforce rich in diversity of knowledge.   Citations Article by Growthspace: The hidden potential of older workers: A strategic advantage

As a small business owner, your instinct might tell you to seize every opportunity that knocks on your door. Let’s face it: saying yes can be a thrilling ride into new ventures. Sometimes, you need to remind yourself of your organizational Sweet Spot.  Does your team have the bandwidth, the people power, and the infrastructure to take it on? Sometimes, saying no is not just the better option; it’s a powerhouse move that aligns your business with your growth goal. Here’s the lowdown on when, how, and why flexing your “no” muscle is your smartest play. The Unmanageable Yes When you’re overcommitted and under-resourced, every additional yes is like adding more weight to an already overstretched team. If saying yes means sacrificing the quality of your work, spreading your resources thin, or burning out your team, then it’s time for a firm, resolute “no.” Remember, quality over quantity isn’t just a great saying – it’s the golden rule for sustainable growth. The Misaligned Opportunity Some opportunities seem golden on the surface, but they won’t help you achieve your business mission, vision, or values. Listen up: Your business is your compass; every decision should steer you to your true north. If it doesn’t fit, say no. It’s not just about avoiding the wrong turn; it’s about staying true to your course and your team’s potential. The Power of Prioritization Here’s a reality check—you can’t do it all. When you say no to less important things, you say yes to more focus, energy, and time for what truly matters. Embrace the art of prioritization because knowing what to decline is as vital as knowing what to pursue. Make your yes count! Cultivating Respect Saying no isn’t just about protecting your time and energy; it’s about setting boundaries. Assertiveness isn’t rude; it’s a sign of respect – for yourself, your team, and your business’s vision. When you respect your limits, others will follow suit. It signals to the world that your time, team, and resources are valuable. Conclusion Saying no is a tough decision. It’s not a negative judgment; it’s a selective choice. Think of the word no as a complete sentence and a powerful tool to guide your business to where it truly belongs. So, the next time you’re faced with a request that doesn’t feel right, plant your feet, take a deep breath, and remember that saying no is not just okay—it’s essential for your business’s health and ongoing success.   Do you need to get in your Owner Sweet Spot?

What is the cornerstone in the strategy for scaling and preparing your business for the future, to grow, to thrive, and to build a legacy that lasts? That’s right – Regular Progress Check Meetings! Think of them as your business’s GPS, helping you navigate the winding roads of growth and strategy. These are not the same conversations as the old water cooler chats.  These are checkpoints along the journey to ensure your highly regarded employees and associates are engaging purposefully and meeting the expectations of their roles. Why are these meetings essential? Here’s the breakdown: Tracking Growth: Stay updated and informed about your Team’s collective journey to success. Ensuring Alignment: Everyone must know not only the what but the how and why behind their goals, ensuring harmony as you move forward collectively. Unify Direction: This is where your team member’s hard work shines. Each team member’s contribution is crucial and should enable the entire team to move in sync towards a common goal. When every team member is crystal clear about their role, that’s when the magic happens. That’s when a small business is not just a player, but a force to be reckoned with.  Use a Progress Check Meeting to fuel team participation and guide your business growth.  Team participation means understanding each role and its impact, assuring that every step takes us closer to our goals. Remember, in your team every voice is influential, and your team’s ideas, feedback, and perspectives are the answer to the next level of greatness and success in your business. With the guidance of Maria Forbes and FIREPOWER Teams, you can empower your team to drive sustainable growth.  Let’s Connect!  

Onboarding isn’t just about shaking hands on day one or drowning your new hires in an ocean of paperwork and procedural manuals. FIREPOWER Teams is here to help you find and grow the right team to fuel success and sustainable growth in your small business. Reach out to Maria Forbes and discover the potential of people-powered change in your organization.

Introduction Running a small business is like navigating through different seasons – there are sunny days full of triumph, and then there are stormy days that test our resilience. One key factor that can make a world of difference in weathering any storm is having the right team members by your side. Just like bad weather always seems worse when viewed through a window, hiring the right individuals can help us see beyond the obstacles and propel our businesses toward success. 1. Weathering the Storm When it comes to building a successful team, it’s essential to understand that every business faces challenges. The key to success is to hire team members who not only have the necessary skills and qualifications but also possess the right mindset to weather any storm. Look for candidates who have demonstrated resilience and adaptability in their past experiences, as they are more likely to navigate through tough times with you and with grace and determination. 2. The Power of Teamwork Remember, when you hire a new team member, you’re not simply adding an employee – you’re gaining a partner who can help you face challenges head-on. When the storm clouds gather and the sky looks ominous, a strong and cohesive team can work together to find innovative solutions, brainstorm ideas, and provide the support needed to overcome obstacles. The right team will transform challenges into opportunities for growth and improvement. 3. Going Beyond the Surface The journey of hiring the right team members extends beyond reviewing resumes and conducting interviews. To choose individuals who can truly thrive in your organization, it’s important to look beyond the surface-level qualifications. Consider their values, work ethic, and their ability to fit into your company culture. Seek out candidates who demonstrate a genuine passion, drive, and willingness to go the extra mile – these are the qualities that will shine through, even when you have to face the fiercest storms. 4. Embracing Uniqueness Don’t be afraid to embrace the uniqueness of each team member. Just like different weather patterns bring a variety of experiences, having a diverse team can lead to fresh perspectives and innovative solutions. Encouraging collaboration where everyone’s ideas are valued will create a team that is equipped to tackle any challenge that comes their way. 5. Building Trust and Resilience Trust forms the foundation of an effective and cohesive team, allowing everyone to rely on each other when the going gets tough. Foster an environment where open communication, transparency, and mutual support are valued, and watch as your team weathers even the strongest storms with unwavering determination. Conclusion Just as bad weather always looks worse through the window, the challenges we face in our businesses can seem insurmountable when we don’t have the right team members to support us. Together you can change your perspective, navigate through any storm with confidence, and emerge stronger on the other side, ready to embrace the sunny days of success that lie ahead. Remember, FIREPOWER Teams is here to help you find, nurture, and grow the right team to fuel success and sustainable growth in your small business. Reach out to Maria Forbes and discover the power of people-powered change in your organization. Let your business thrive and watch as the storm clouds dissipate, leaving a bright future full of possibilities.

As we noted in Glassdoor identified that companies with a well-structured onboarding program improved new hire retention by 82% and outlined the following successes: 91% felt strong connectedness at work. 89% felt strongly integrated into their company culture. 49% reported contributing to their team within the first week. Employees were 18 times more likely to feel highly committed to their organization. In contrast, organizations without an effective onboarding process experience a 31% higher employee turnover rate within 6 months, and more than half of employees who received ineffective onboarding (52%) also felt negatively about the organization as a whole. The Impact of Poor Onboarding When employees leave within the first few months, it creates several notable problems: High Recruitment Costs Recruiting new employees is expensive. It involves advertising job vacancies, screening resumes, conducting interviews, and training new hires. When employees leave within a short time, you will incur these costs again, increasing your recruitment expenses. Loss of Productivity New hires take time to adapt to their new roles and responsibilities. When they leave within a few months, they have not completed their learning curve and are unlikely to have made significant contributions to your business.  They have also taken time from peers and others on training. This loss of productivity slows your business operations. Negative Impact on Morale High employee turnover rates can affect morale among the remaining team members. When employees leave without being replaced, other team members must pick up the slack and work longer hours. This can lead to burnout and decreased job satisfaction. Jeopardized Business Exit Strategy When you plan to sell your business, potential buyers look at various factors, including employee retention rates.  A high turnover rate is a factor in the perceived value of your company, making it less attractive to potential buyers. Benefits of a Proper Onboarding Plan New hires should be provided with a comprehensive onboarding plan outlining their role’s expectations and responsibilities. This plan should include an introduction to the company culture (i.e., shared values, attitudes, behaviors, and standards that make up a work environment), a detailed role description, and training timelines should be completed. A well-designed onboarding process will help your business in several ways: Increased Employee Retention An effective onboarding program can significantly improve new hire retention rates. When employees feel welcomed and supported, and their time is structured during their first few weeks on the job, and they have scheduled progress checks with supervisors, they are more likely to stay with your company. Enhanced Productivity A proper onboarding plan accelerates new hire productivity. When employees clearly understand their roles and responsibilities and receive proper training and support, they can start contributing to your business operations sooner. Additionally, new hires should be given access to the necessary tools and resources to succeed in their role. Improved Employee Morale A positive onboarding experience can boost employee morale and job satisfaction levels. When employees feel valued and supported, they are more likely to be engaged in their work and motivated to achieve their goals. Favorable Business Exit Strategy When you have a well-structured onboarding process in place, you demonstrate to potential buyers that you have a stable and committed workforce. This can increase the determined value of your business, making it more attractive to prospective buyers. Conclusion A proper onboarding plan is crucial for retaining employees, achieving business success, and increasing the perceived value of your business in preparation for a business transition or exit. Investing in a customized onboarding program designed by FIREPOWER Teams is critical to achieving long-term success for your business. Contact Maria Forbes at maria@firepowerteams.com today.

In the dynamic landscape of employee performance evaluations, 360-degree reviews have emerged as a holistic approach, offering a well-rounded perspective. However, to extract the full benefits of this method, managers must adopt a strategic outlook. This blog post explores key elements to enhance the effectiveness of 360 reviews, delving into the nuances of communication, goal setting, and the overall contribution of employees to organizational success. Key Considerations for Meaningful 360 Reviews 1. Managerial Preparedness for Effective Communication One pivotal aspect of successful 360 reviews is the manager’s commitment to investing time in preparation. To unlock the true potential of this evaluation method, managers must be well-prepared to clearly communicate the details of the review. This involves not only understanding the process but also being adept at articulating constructive feedback. Clear and transparent communication sets the tone for a positive and impactful review experience. 2. Clarity in Communication Building on the foundation of preparedness, managers must emphasize clarity in their communication during the 360-review process. Ambiguity can lead to misinterpretation, undermining the purpose of the evaluation. By asking great questions, listening thoroughly and  being precise and concise in feedback delivery managers can ensure that employees grasp the essence of their performance and areas for improvement. Clear communication fosters an environment of trust and mutual understanding. 3. Setting Attainable Goals Goals are the compass that guides professional development. In the context of 360 reviews, managers play a pivotal role in setting clear and attainable goals. These goals should not only align with the organization’s objectives but also consider the individual strengths and areas for improvement identified through the evaluation. Specificity in goal setting enhances the employee’s sense of direction and purpose, contributing to overall job satisfaction and productivity. 4. Communicating the “Why” of Employee Contributions Beyond the traditional focus on skills, it is essential to communicate the “why” behind an employee’s work. Managers should highlight the meaningful impact of individual contributions on the success of the company. This perspective instills a sense of purpose and belonging, motivating employees to actively engage in their roles. Connecting the dots between daily tasks and organizational success creates a more profound understanding of the employee’s value. Additional Perspectives on 360 Reviews Soft Skills Emphasis: While technical competencies are crucial, the 360-review process is ideally suited for assessing soft skills. Not everyone possesses the same technical expertise, making it challenging for a comprehensive evaluation. Soft skills, on the other hand, are universally applicable and contribute significantly to team dynamics and overall workplace harmony. Choosing the Right Platform: The choice of the platform for conducting 360 reviews is pivotal. Online surveys, with a mix of rating scales and open-ended commentary, have proven to be effective. This approach encourages honest feedback and provides a comprehensive understanding of the employee’s performance. Optimal Timing: Consider the timing of 360 reviews carefully. Avoiding busy periods, such as month-end, ensures that employees can dedicate sufficient time and attention to the evaluation process. This consideration reflects a commitment to a fair and thoughtful assessment. Encouraging Open Feedback: Acknowledge that not all employees may feel comfortable expressing themselves in written form, especially if English is not their primary language. To address this, provide alternative channels, such as internal forums or private HR consultations, where employees can voice their opinions comfortably. Incorporate 360 Reviews into Your Culture Incorporating these perspectives into the 360-review process transforms it from a routine evaluation into a powerful tool for professional growth and organizational success. By investing in preparation, embracing clarity, setting meaningful goals, and emphasizing the “why” of employee contributions, managers pave the way for a more insightful and constructive performance review experience. With any questions about implementing a 360-review process, reach out to the WhiteWater Consulting team today.

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How would it feel to shorten the time to productivity? Why does someone need to do their job the way they do? How can people become productive faster? Introduction: As a small business owner, you wear many hats. You’re the visionary, the marketer, the accountant, and often, the HR department. However, having the right people in the right roles is key to your success. It’s not just about filling seats; it’s about aligning talent with the demands of each department. This is where Kolbe comes in – a powerful tool that can help you unlock your team’s natural strengths and optimize your business’s performance. The Problem: Mismatched Skills and Frustration We’ve all seen a detail-oriented person struggling in a fast-paced, idea-generating role or a creative mind bogged down by rigid processes. Mismatches like these lead to frustration, decreased productivity, and, ultimately, higher turnover. This is especially damaging in a small business where every team member’s contribution is crucial. You might be tempted to use traditional methods, like resumes or personality tests. While these have their place, they don’t always get to the heart of how someone naturally gets things done – the key information the Kolbe A™ Index provides. Enter the Kolbe A™ Index: Understanding Your Team’s Conative Strengths The Kolbe A™ Index isn’t about measuring intelligence or personality. It measures a person’s conative strengths – their instinctive method of taking problem-solving action and getting things done. It reveals how they prefer to: Fact Finder: Do they need to gather data or rely on intuition? Follow Through: Are they good at meticulously executing plans, or are they more adept at improvising? Quick Start: Do they prefer to start new processes or refine existing ones? Implementor: Are they good at taking something complex and making it simple, or are they adept at handling intricate details? The Kolbe Index places you on a spectrum for each mode of action and gives you a number (ranging from 1-10) for how you naturally prefer to act within each mode. Map Roles to Kolbe Strengths: Now it’s time to analyze the demands of each department and role within your business. For instance: Marketing: You might look for individuals with high “Initiator” and “Fact Finder” scores. Operations/Production: This might be an area for those with a stronger “Follow Through” style. Sales: Those with a strong mix of “Initiator” and “Implementor” could excel here. Accounting/Finance: Look for those with a high “Follow Through” preference and a strong preference for “Fact Finder”. Open the Dialogue: Have open and honest conversations with your team. Share their Kolbe results (with their permission) and discuss how their strengths align (or don’t align) with their current role. Make Strategic Adjustments: Consider making adjustments based on the Kolbe results and those conversations. This might mean moving someone to a different department, shifting responsibilities within a team, or modifying a team member’s workflow to better utilize their strengths. It’s critical to remember that this is not a tool to punish or demean anyone but to place them in their best role, where they can thrive. Embrace Team Diversity: Each Kolbe profile offers unique strengths and values. A team of people working in the exact same way is not as effective as a team that balances diverse strengths. Benefits of Using Kolbe in Your Small Business: Increased Productivity: People who work within their natural strengths are more efficient and engaged. Reduced Frustration: Fewer mismatches mean less frustration, which leads to improved morale. Lower Turnover: Happier employees are less likely to leave. Improved Team Collaboration: When people understand how their teammates approach work, they can collaborate more effectively. Enhanced Problem Solving: A well-balanced team with diverse Kolbe profiles can tackle challenges more creatively. Better Decision-Making: Understanding the different ways each person naturally approaches a problem can lead to better decision-making in the long run. Rethink your Growth and Exit Planning: As a small business owner, you’re constantly looking for ways to optimize your operations and create a thriving work environment. Using Kolbe is not about forcing square pegs into round holes. It is about understanding the natural approach of your team and putting everyone in a place where they can thrive. Investing time and resources to understand your team’s conative strengths will pay dividends in increased productivity, happier employees, and, ultimately, a more successful business. So, take the first step, explore the power of Kolbe, and watch your team’s potential flourish. Call to Action: Are you ready to understand the power of your team’s strengths? It is important to have a Certified Kolbe Consultant guide you on how to use this data to attract, engage, and develop your team so you can grow and exit on your terms.

Listen to this post as a podcast: Click here to talk to Bloomwood about your finances. Are you ready to take control of your finances and maximize your after-tax income? If so, you’re in the right place. I’m Billy Amberg, founder of Bloomwood, and today, we’re going to explore a financial case study that affects everyone—whether you’re just starting out on your wealth-building journey or you’re a seasoned investor with substantial assets. The 1% Financial Advisor Fee: Is It Worth It? The financial advisory and wealth management industry invests massive marketing dollars to convince you that paying a 1% portfolio management fee is worthwhile. But is it really? Let’s break it down. For those with financial advisors who provide significant value through tax planning, estate planning, and comprehensive financial strategies, paying 1% can be justified. If you have a complex trust or unique investment needs, that fee might also make sense. However, if your advisor is merely managing your portfolio, responding to your questions reactively, and failing to offer proactive financial planning, then you are overpaying. Many advisors hold periodic meetings about investments, but that alone doesn’t justify the 1% fee. Why Paying 1% for Just Investment Management Is Too Much To understand why paying 1% for basic investment management isn’t worth it, we must first explore key investment principles. One of the best ways to structure your investments is by using the Three Buckets Approach: Cash Reserve Bucket: This is your safety net, typically covering 6 to 12 months of living expenses in case of an emergency. It also provides liquidity for investment opportunities, such as purchasing real estate. Fixed Income Bucket: If you need stable income to support your lifestyle, especially in retirement, this bucket consists of low-risk investments like bonds, ensuring steady cash flow. Long-Term Growth Bucket: Everything else belongs here. This is where equities and growth-focused investments come into play, aligning with long-term wealth accumulation. Understanding Risk Tolerance and Why It Matters Less Than You Think Many investors are familiar with risk tolerance questionnaires used by financial advisors or platforms like Vanguard. While these assessments provide insight into your comfort level with risk, they are not the ultimate determinant of investment strategy. For example, a young professional with limited financial resources who fears market volatility might lean toward ultra-conservative investments. However, avoiding equity exposure could mean they never accumulate enough wealth to retire. An advisor’s role should be to educate and coach clients through investment realities rather than just accommodating risk aversion. Why Beating the Market Is Nearly Impossible Many financial advisors attempt to justify their fees by claiming they can outperform the market. However, history shows that even professional fund managers struggle to consistently beat benchmark indices like the S&P 500. Consider this: The NASDAQ (Technology Index) has significantly outperformed the S&P 500 in recent years. The S&P 500 itself remains a difficult benchmark to beat even for top-tier investment professionals. The only funds consistently outperforming the market are quantitative hedge funds like D.E. Shaw, Citadel, and Two Sigma—which charge exorbitant fees and require massive investment minimums. If professional fund managers can’t consistently beat the market, how can an individual financial advisor do so? The answer is simple: they can’t. The True Cost of Active Management vs. Index Funds Rather than paying a financial advisor 1% to actively manage investments, many investors can achieve better results with low-cost index funds. Vanguard, for instance, offers index funds with fees as low as 0.05% per year. Additionally, for just 0.30%, you can get a Certified Financial Planner (CFP) through Vanguard, which is more than a third cheaper than the typical advisor fee. How to Determine If Your Advisor Provides Real Value Before you continue paying a 1% management fee, ask yourself: Is my advisor providing value beyond just investment management? Am I receiving proactive tax planning, estate planning, and financial strategy sessions? Can my advisor point to tangible financial benefits I’ve received beyond portfolio returns? If your advisor’s only contribution is managing your portfolio, you are likely paying for underperformance. Paying 1% for an actively managed fund that fails to beat the market is counterproductive when low-cost index funds offer superior long-term results. The Bottom Line: Are You Getting a Fair Deal? If you’re paying 1% for asset management, it should come with significant added value, including tax planning, estate planning, and personalized financial strategy. At Bloomwood, we focus on delivering real, tangible benefits beyond just managing investments. If you want to learn more about investing and getting massive value through financial planning, check out our other content: Kickstart Your New Year with Smart Financial Planning: A Comprehensive Guide Tax Planning: How Buying Tax Credits Can Cut Your Tax Bill and Boost Profits Disclosures Bloomwood does not make any representations as to the accuracy, timeliness, suitability, or completeness of any information prepared by any unaffiliated third party, whether linked to or incorporated herein. All such information is provided solely for convenience purposes and all users thereof should be guided accordingly. We are neither your attorneys nor your accountants and no portion of this material should be interpreted by you as legal, accounting, or tax advice. We recommend that you seek the advice of a qualified attorney and accountant. For additional information about Bloomwood, please request our disclosure brochure as set forth on Form ADV using the contact information set forth herein, or refer to the Investment Adviser Public Disclosure website (

We know that a way higher-than-acceptable percent of those who sell their company have many regrets a year later.  A piece of that is how well did they plan life beyond the sale?  Purpose is a huge part of that, and we have many XPX members who are retirement coaches and help people plan for purpose.  That is incredibly important. And there is so much more.  How is that person going to thoughtfully, proactively remain healthy, minimize their health-related risk factors, stay mentally sharp, have a robust social network since so much of their current social network is wrapped up with the business, partners, clients, etc. And then what about knowing when and how to include family members so that inevitable changes in the future are fully planned?  We have XPX members who plan the financial, the estate, the insurance pieces which are all important.  There is a much deeper personal side that is rarely planned and leaves families not knowing what to do when a crisis happens, health declines, a spouse is lost, or other unexpected events. All of this can be planned, and when it is, the future is brighter and more secure. Selling the business just opens the door to new phases of life that are just as fulfilling and engage those prior business owners in new ways to engage with their community, their family, and their unique interests. Purpose is not busy-ness.  In a future article we will talk about how very important that differentiation is.

Listen to this post as a podcast: Click here to talk to Bloomwood about your finances.   Quantum computing and artificial intelligence (AI) are two transformative technologies that have the potential to reshape industries and solve some of the world’s most complex challenges. Together, they form a dynamic duo capable of driving breakthroughs in fields ranging from healthcare to manufacturing. In this post, we’ll explore the synergy between quantum computing and AI, the challenges involved, and the exciting future ahead. What is Quantum Computing? Quantum computing offers the potential to solve problems that classical computers struggle with, such as those in drug discovery and material science. Quantum computers operate using quantum bits, or qubits, which can exist in multiple states simultaneously (superposition). This ability to represent both 0 and 1 at once allows quantum computers to solve problems much faster than classical systems. How AI is Transforming Industries Artificial intelligence, particularly machine learning, is already transforming industries such as healthcare, finance, and defense. By analyzing large datasets and making predictions based on that information, AI systems are helping organizations make more informed decisions and predictions. In fields like healthcare, AI is improving diagnostics, personalizing treatment plans, and advancing medical research. In finance, AI-powered algorithms are being used for fraud detection, risk assessment, and market prediction. The Challenges of Building Stable Quantum Computers Despite its potential, building stable quantum computers remains a significant challenge. Quantum states are incredibly fragile, and any disturbance can cause errors in calculations. This makes developing reliable quantum computers a difficult task. Furthermore, quantum encryption is a concern, as quantum computers could eventually break current encryption methods. Researchers are already working on developing quantum-resistant encryption to address these challenges. The Rise of Quantum Sensing Quantum technology is not limited to computing. Quantum sensing is emerging as a powerful tool for detecting small changes in physical properties such as magnetic fields, gravity, and time. This could lead to breakthroughs in medical imaging, environmental monitoring, and navigation, with applications in everything from precision healthcare to transportation. The Economic Impact and Job Creation The growth of the quantum and AI industries is expected to generate over $1 trillion by 2035, creating hundreds of thousands of jobs across various sectors. By 2030, it is predicted that 250,000 jobs will be created in the quantum sector, with that number rising to 840,000 by 2035. These technologies will not only fuel economic growth but also provide opportunities for innovation and creativity across a range of industries. How Companies Can Capitalize on Quantum and AI Advancements Companies looking to thrive in the quantum and AI space must: Adopt early: Be early adopters of quantum and AI technologies to establish themselves as leaders. Create value: Apply these technologies in ways that solve real-world problems in industries like healthcare, finance, and manufacturing. Innovate rapidly: Keep pace with technological advancements and remain adaptable in a fast-moving market. Invest in infrastructure: Have the financial strength to fund R&D and build the necessary infrastructure. Leverage marketing: Effectively communicate innovations to the public and industry stakeholders.   Key Companies to Watch in the Quantum and AI Space Tech Giants Leading the Way Companies like IBM, Microsoft, Apple, Amazon, and Nvidia are heavily investing in quantum computing and AI technologies. These tech giants are positioning themselves for long-term leadership by developing cutting-edge solutions and forging strategic partnerships in the space. Industry Disruptors Smaller companies like Square, Chime, Clario, and Anduril Industries are harnessing AI and quantum technologies in unique and innovative ways. Particularly in finance, healthcare, and defense, these disruptors are pushing the envelope on what’s possible with these technologies. Innovations in Telecommunications and Manufacturing Telecommunications: The Future of Quantum Communication In telecommunications, BT is exploring quantum communication to enhance the security and efficiency of digital networks. IQ Go is leveraging AI to improve network management, optimizing resource allocation and improving network reliability. Manufacturing: Virtual Models for Optimization In manufacturing, companies like Forge are using AI to create virtual models of manufacturing processes. This allows them to simulate, optimize, and improve production lines with digital twin technology, resulting in greater efficiency and cost savings. Democratization of Quantum and AI Technologies One of the most exciting developments in the quantum and AI space is the democratization of these technologies. Cloud-based services now allow small businesses to access powerful quantum and AI tools without needing their own hardware. This mirrors the early days of the internet when once-exclusive technologies became available to the broader public, sparking innovation across industries. Quantum Startups Making Waves Several startups are making significant contributions to quantum computing. For instance: Reggetti Computing combines quantum and classical computing in a hybrid approach to enhance performance. IonQ is pushing the boundaries of quantum computing with trapped ions as qubits, offering high fidelity and long coherence times. Zapata Computing provides platforms for quantum algorithm development, making quantum computing more accessible to those without deep expertise in the field. Key Concepts in Quantum Computing To fully appreciate the potential of quantum computing, it’s essential to understand some key concepts: Superposition: Qubits can exist in multiple states simultaneously, allowing for parallel computations. Entanglement: A quantum phenomenon where qubits are linked, enabling instantaneous communication and increasing computational power. Fidelity: The accuracy with which qubits can be manipulated. Coherence Time: The duration for which a qubit can maintain its quantum state before it decays. Will Quantum Computers Replace Classical Computers? While quantum computers are powerful, they are not meant to replace classical computers. Instead, they are designed to tackle problems that classical systems cannot handle, such as complex simulations and optimization tasks. The future will likely see a hybrid approach where both types of computers complement each other, each playing to its strengths. Responsible AI Development As AI continues to evolve, it’s crucial that we develop it responsibly. This means addressing issues like bias, transparency, and accountability. For example, if an AI system is trained on biased data, it may perpetuate and even amplify those biases in its decision-making. In fields like healthcare and finance, transparency is essential. We must ensure that AI decisions are understandable and explainable, particularly when they have a direct impact on people’s lives. Similarly, accountability is key: if an AI system causes harm, we need to determine who is responsible. The Future of AI and Quantum Computing As we look ahead, the future of AI and quantum computing is filled with possibilities. These technologies have the power to revolutionize industries, create new economic opportunities, and solve some of humanity’s most pressing challenges. But with great power comes great responsibility. We must ensure that these advancements are used ethically and transparently to benefit society as a whole. The quantum era is here, and it’s full of opportunity. Whether through AI’s ability to enhance communication or quantum computing’s ability to solve complex problems, these technologies are set to transform our world. Check out our other recent article on investing in quantum computing! www.adviserinfo.sec.gov). Please read the disclosure statement carefully before you engage our firm for advisory services. The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor’s particular investment objectives, strategies, tax status or investment horizon. You should consult your attorney or tax advisor.   The views expressed in this commentary are subject to change based on the market and other conditions. These documents may contain certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected. Any projections, market outlooks, or estimates are based upon certain assumptions and should not be construed as indicative of actual events that will occur.    All information has been obtained from sources believed to be reliable, but its accuracy is not guaranteed.  There is no representation or warranty as to the current accuracy, reliability, or completeness of, nor liability for, decisions based on such information and it should not be relied on as such. Bloomwood is a registered investment advisor. Advisory services are only offered to clients or prospective clients where Bloomwood and its representatives are properly licensed or exempt from licensure. 730 Starlight Lane, Atlanta, GA 30342.

Enhance your member profile by adding a photo and your company logo! It’s a great way to personalize your presence and showcase your organization. Follow these simple steps to update your profile: 1. Log In to Your Account First, make sure you’re logged in to your member account by going to www.exitplanningexchange.com and clicking on the Log In button on the top right-hand corner of the page. Remember to use the email address associated with your member profile as your username. 2. Go to Your Profile Once logged in, navigate to your member profile. You can usually find this by clicking on your profile picture or your name at the top of the page. 3. Select “Edit Photo” Look for the “Edit Photo” button—typically located near the top of your member profile’s dropdown menu (photo below). Click on it to upload or update your high-res photo.

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