The Magazine for Business Owners
FLUIDBUSINESS MAGAZINE
Inside This Issue!
FOUR KEYS TO BUILDING A SUCCESSFUL TEAM BUILD AN ALL STAR TEAM
GET FAST RESULTS
SUMMMER 16
We Arrset the Filles Gaze ing Coach ice in PractU the K!
BUSINESS SHOW REVIEW!
FIND OUT MORE PAGE 6
WHAT IS YOUR VALUE
to your business?
Discover why
MORAL CHARACTER WINS!
CONTENTS
04 FLUID INSIDER A run down of what has been going on over the last quarter at Fluid Business.
05 QUESTION TIME Our expert coaches lend their advice for how to build a successful team.
06 THE BUSINESS SHOW A look at what it is like to exhibit at a national show like The Business Show.
08 ALL STAR TEAM Discover what the difference is between an All Star Team and a Team of All Stars.
14 WHAT IS YOUR VALUE? What do you contribute to your business & what does your business say about you?
16 VALUES VS. RESULTS Which is best when recruiting new managers for your team?
10 HOME GROWN MANAGERS How to develop your home grown managers into professional managers.
18 TIME 03 TO RAISE THE BAR Is it time that you raised the bar when it comes to managing your team?
NATALIE MOORE Managing Director of Fluid Business Coaching.
In this edition of the Fluid Business Magazine we are focussing on Team and how to build and lead an outstanding team.
Recruiting new team members? Peter discusses whether to recruit someone for their values or their results (more on page 16).
On page 5 you will find Fluid Business Coaching’s advice on building a successful team.
We exhibited at The Business Show on 11th & 12th May and you can find a ‘debrief’ of our experience along with advice for attending and exhibiting at the show on page 7.
Ray discusses the difference between an ‘All Star Team’ and a ‘Team of All Stars’ on page 8. Do you have any Home Grown Managers lurking in your teams? Discover what you need to do to develop them into successful managers on page 12.
I hope you have a great quarter building and developing your successful teams.
Natalie Moore 01245 423 377
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FLUID INSIDER!
Fluid Insider y CRONEY BLAURA MARKETING EXECUTIVE
We have had another exciting quarter here at Fluid Business Coaching, including launching the Growth Programme - a breakfast club for like-minded small business owners, attending The Business Show and becoming the first Gazelles practice in the UK.
A
busy few months have been had at Fluid! We have hosted a number of Levels For Managers workshops, which have proved extremely popular and beneficial for our clients. Hugo is hosting a bi-weekly breakfast club Growth Programme, for small business owners looking to grow to the next level. We have welcomed a number of new clients onto our coaching programmes, and look forward to
DON’T MISS
building more great businesses in the UK. Ray and Andy are now Gazelle’s Certified Business Coaches making Fluid the only Gazelle’s practice in the UK - which we are extremely proud of. Looking to the next quarter we will be introducing the GYB Webinar, celebrating the 50th episode of the Fluid Business Podcast and continuing to help build and grow successful businesses across the UK.
Have a great and successful quarter.
Laura
YOUR GROW SS E IN BUS
GYB WEBINAR
FREE SUMMER SESSION
After the huge success of the GYB workshops we will be offering the content in a free webinar. Register your interest at fluidbusiness.co.uk/webinars
If you’re looking for ways for your business to run itself, rather than run your life, then we can help you - it starts with just one free session. fluidbusiness.co.uk/summer-offer
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COACH QUESTION TIME: THE FOUR KEYS TO A SUCCESSFUL TEAM
I want to build a successful team, what shall I do?
ANDY SLEET Preparing Your Business for stability and sale? Speak to Andy
HUGO HEIJ Lead and develop your team on an international scale with Hugo
ANDYSLEET@FLUIDBUSINESS.CO.UK
A:
Lead your team with goals and tasks. Delegate tasks and lead people to achieve their goals, rather than manage them from minute to minute. Give people responsibility, and let them make mistakes. Review those mistakes with them to ensure they learn from them. Remember that punishing them will make them reluctant to take future risks.
PETER BOOLKAH Experiencing Rapid Growth? Speak to Peter
HUGOHEIJ@FLUIDBUSINESS.CO.UK
A:
If you look at all of your team, how many of them are still at the same level of motivation as when they started with you? Chances are it’s not the same. So how do we stop ‘de-motivating them?’ Make absolutely clear what you want to achieve this year, make sure it is something your team can relate to so they are a part of the goal. Teams with a sense of belonging are so much more motivated.
PETERBOOLKAH@FLUIDBUSINESS.CO.UK
A:
Many businesses excel at tracking KPI’s like profits but fall flat when it comes to monitoring their team’s morale. People, your most valuable asset, are intangible in accounting terms. but measuring their happiness is a way of making them more tangible. Do this before disgruntled employees have alienated good customers, incompetent managers have killed productivity, and the best talent has left for your competition.
RAY MOORE MANAGING COACH Expert in family business, succession planning and author of The Levels. RAYMOORE@FLUIDBUSINESS.CO.UK
A:
You might have heard about the conversation between the Managing Director and his Finance Director. The Finance Director is complaining that the company is investing a lot of money in training their people, and that when they are trained, they leave to go work somewhere else. To which the Managing Director replies, “But what if we don’t train them and they stay?” If you grow and develop your team, with training career development opportunities and involve them in the future of the business they will
feel rewarded and acknowledged leading to increased loyalty to the business. We all know the expression, “if you pay peanuts, you’ll get monkeys”. The allure of cheap temporary and zero hour contracts, hoping that we get lucky and find employees that are exceptional and capable with minimal investment. Invest in developing their skills and you will have happy, skilled teams with a common goal - the success of the business!
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THE BUSINESS SHOW 2016
THE BUSINESS SHOW AT LONDON EXCEL: PART 2 The Business Show returned on 11th & 12th May at London ExCeL. We take a look at what it is like to exhibit at a national show like The Business Show and if it is worth a visit.
BENEFITS OF EXHIBITING 1
SHOW GUIDE INCLUSION You are provided with an exhibitor listing in the hard copy of the show guide which is sent to 35,000 businesses along with a full page feature to promote your company and the services you decide to promote at the show in the digital show guide which goes out to a total audience of 1.6 million SME business owners.
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2
PROMOTION ON SOCIAL MEDIA Social media is one of the best ways to create interest in your business solutions and to drive traffic to your stand at the show. The Business Show offers promotion to their 26,000 followers on twitter by retweeting and posting any of your social posts. This increases the reach of your social media campaign in the build up to the show.
Fluid Business Coaching’s Masterclass at The Business Show
3
HOSTED BUYER SERVICE Hosted Buyer is designed to increase the footfall to your stand with targeted visitors. Think of it as a personal telemarketing campaign where a team of Delegate Acquisition staff, will reach out to a desired wish list, personally inviting them to the show on your behalf.
Britain’s biggest business exhibition and conference, The Business Show, returned to ExCeL on 11th – 12th May for it’s 35th instalment. Over the 2 days the event drew in over 25,000 SME business owners and entrepreneurs looking for inspiration, expert advice and the latest products & services to help their businesses grow. The Business Show is bustling with 250 seminars, workshops, live features, and over 350 exhibitors, making it an unrivalled hub of business expertise, with a sole purpose of helping business owners to grow, expand, or improve their businesses.
Fluid Business Coaching exhibited at the show again this year with an exhibiton stand and a business growth masterclass. The stand graphics were designed by Juice Creative, and proved extremely popular with the business owners who passed, they stopped to find out what level their business is at. The event was very successful and it was great to meet so many people passionate about their businesses - from established business owners to industry leaders.
HOW TO GET INVOLVED Sit Down with a Coach
DONT MISS the opportunity to sit down with one of our business coaches for a chat about your business. All of our coaches are Levels Certified and have extensive experience owning and running their own businesses.Visit www.fluidbusiness.co.uk for more information or call Lynsey on 01245 423377.
Fluid Business Podcast
IS IT WORTH A VISIT? Firstly, you don’t need to exhibit, if the budget won’t allow it. The initial outlay for exhibiting at a national show such as The Business Show is often steep. Your stand is your shop window and your opportunity to really showcase your brand, so it does need some investment. Unless you have a specific product to sell or KPI to meet, it can be difficult to get a return on your investment so make sure it is worth it for your business before committing. You can, however, attend the event for free if exhibiting is not for you, and you will still gain a wealth of new contacts, industry insights and business knowledge. We have learned a great deal from attending and exhibiting at The Business
Show over the last two years, making some excellent contacts and increasing the awareness of the Fluid Business Coaching brand in the UK. Plus, it’s a fast-paced event with loads of energy, so go and soak it up and get inspired. If you need some motivation or want to see the benefit of others’ experiences it is perfect for a fresh perspective. So, would we recommend going to The Business Show? Absolutely. And luckily for you the next show is at Olympia London on 17 & 18 November 2016. You can get your tickets from www. thegreatbritishbusinesssho w.com plus book on to the various masterclasess they have on offer.
OUT NOW weekly advice and insights from the business experts on topics such as business growth, family business, team and efficiency. Available on iTunes, Stitcher, Soundcloud & fluidbusiness.co.uk
Growth Programme
NEW don’t miss the Growth Programme meeting every other Wednesday mornings from 6:30-8am, to find out more information and to make sure the programme is for you contact Lynsey Smith on 01245 423377 or info@fluidbusiness.co.uk.
FBM MAGAZINE 2016 | 7
COACH FOCUS
RAY MOORE: BUILD AN ALL STAR TEAM Have you ever wondered what differentiates a winning team from a team that has great potential but never quite makes it?
RAY MOORE How to lead your team to success
In sport this is often quite clear. Consider the team of all stars, full of talent, who don’t play together as a cohesive team and are beaten by a team of less talented players who pull together and produce a performance above their perceived skill level. Take a moment and I’m sure you will come up with many examples from Rugby, Football, Cricket and so on. It’s the difference between an All Star Team and a Team of All Stars.
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The members of an All Star Team work for each other to achieve a common goal, subjugating their own egos to achieve the team goal, whereas, a Team of All Stars play as individuals for their own goals and aim to massage their own egos. As a business develops through the levels from a micro enterprise (up to 10 employees) to a small business (up to 50 employees) the pressure to succeed and grow can create a Team of All Stars. Often a
talented individual (the business owner) works hard and excels in many roles. However, as the business starts to transition to a medium sized business (50 employees plus) the pressure on the talented individual becomes too much. To truly unlock the potential of the business, the future must be based on building an All Star Team that work together. There are many things that differentiate an All Star Team from a Team of All Stars. In this first of a series on building an All Star Team we will look at two of the main foundations that differentiates an All Star Team from a Team of All Stars
1) A strong leader that enrolls and inspires their team to achieve a common vision. The leader has a clear vision and attracts talented individuals who want to help them on their journey. Each team member may have a different compelling reason (their why) for wanting to help and they are prepared to emotionally commit to the team success. All Star Teams work tirelessly towards achieving the team goals. They truly commit to the outcome and are prepared to be held accountable for achieving results and being responsible for their actions. RAY MOORE Fluid Business Coach Team and Communication Expert
2) An All Star Team must be underpinned by common values that build trust between all the team members. All Star Teams have common values. These are clearly defined and written down, they are not assumed. The values underpin every action and decision. Issues are openly discussed and resolved to strengthen the team. Team members are recruited on values first and skills second. Skills can be developed but if the values are not aligned then trust will be quickly undermined and an All Star Team will be transformed into a Team of All Stars. The successful transition from a Team of All Stars to an All Star Team is one of the hardest steps in business. Indeed many of the team may be loyal employees who have been with the company from day one.
are holding the company back. Often loyalty is also a core value of the business and therefore the creation of an All Star Team in these circumstances can lead to a conflict of values. This in turn stifles open and honest communication. The door is open for the ‘Pink Elephant’.
“It’s the difference between an All Star Team and a Team of All Stars.”
- Ray Moore
Unfortunately, it also maybe these individuals that are not aligned to the company future and FBM MAGAZINE 2016 | 9
FEATURE
HOME GROWN MANAGERS How to develop your home grown managers
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Being a manager is not just a change in title. It is the biggest development leap employees make.
As a business grows it becomes necessary to create a more formal structure and appoint managers to take on some of the responsibility of running the business. Who better than the loyal and trusted employees who have helped the business owner in the early stages of growth to take on more responsibility. Often the business started by the owner is a continuation of their former employment. The experience and skills they needed to start the business were acquired through training and mentoring, perhaps even an apprenticeship. Interestingly, there is the assumption that with this experience comes a natural insight in how to manage. Somehow the necessary skills will be picked up along the way by just doing the job. Can you imagine the scenario of say an electrician or structural engineer picking up their skills on the job. It just wouldn’t happen. The consequences could be catastrophic! Over the years I have seen so many companies being run by these ‘home grown managers’. Home grown managers are the life blood in the early stages of a growing business. They hold the culture, knowledge and understanding of the business. They have their fingers in many pies and by sheer hard work and tenacity they ‘manage’ to get by. However, the business will eventually become restricted, unable to scale up
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and will not achieve it’s potential. The business starts to outgrow the ‘home grown managers’. Feeling more and more out of their depth, they resist change to maintain the status quo and protect their position. Often the temptation is to blame the old guard and to look to introduce ‘professional’ managers from outside. Latest research shows that this can rip out the founding drive and determination at the heart of many growth companies and can have a long term negative impact on growth. What’s the solution? Well the first step is to be aware of the situation. Realise that being a manager is not just a change in title. It is the biggest development leap that most individuals are asked to make in their working career. So, take the time to involve them in their own future. Perhaps some, when asked, may not want to grow but give them the opportunity to step up. For those that are ready it’s time to invest in a ‘home grown mangers’ apprenticeship to transform them into those professional managers of the future. At Fluid we offer Levels For Managers, a programme designed specifically to transform your ‘home-grown’ managers and align them to your vision. Contact us for more information on 01245 423377 or email info@fluidbusiness.co.uk
STOP, REFLECT & REVIEW Invest your time wisely
“Realise that being a manager is not just a change in title”
- Ray Moore
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WHAT IS YOUR VALUE? What do you contribute to your business? Over the years we have met many business owners who have been overtaken by their own business. Often the fear of losing control can cause business owners to unconsciously keep their fingers well and truly in every pie. By being involved in every decision, large or small they are the glue that holds everything together and so unknowingly restrict the growth of their team. With their thinking and actions entrenched in their past glories and actions, they value their contribution by hard work, often being the first and last out of the building everyday. If this sounds like you, you may be thinking so is there another way? Well, yes and it is actually a very simple solution. The key is to learn the art of delegation. It’s the major step change that every business owner must take to grow to the next level. It’s to delegate the direct supervision to others and trust them to do their jobs. Interestingly, this does not take away control it actually gived you more by freeing your time to observe and monitor what is truly happening within the business. Unfortunately, old habits of ‘doing the do’, of just being plain busy will want to drag you back. But remember when you are busy you cannot monitor what is going on and that means you have abdicated the direct supervision to others. So resist the temptation, clear that desk and start some good, old fashioned ‘Management by Walking About’. It may feel uncomfortable but develop the skills of observing, of asking questions and you may be amazed at what you find out. Once you step outside the bubble of ‘busyness’ your performance will jump, your team’s performance will jump and your business’s performance will jump.
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WHAT YOUR BUSINESS SAYS ABOUT YOU... An Account by Ray Moore Recently , I was invited to meet the owner of a business to see how I could help him to prepare his business for sale. The general feeling I got as I sat in reception waiting for the owner to appear was a tired business that was past it’s prime. Cluttered, tatty furniture and dated decoration was reflected by lacklustre staff. I was not surprised to uncover that the owner had fallen out of love with his business some time ago.
Being the glue that held the whole business together the owner had become tired and bored doing the same thing day in day out. Indeed, not knowing what and how to change the business he had abdicated his role and the business had lost direction. The owner had tried to sell his burden for an unrealistic value for some time without success. Frustration and endless pressure had sapped his energy further and
Once you step outside the bubble of ‘busy-ness’ your performance will jump, your team’s performance will jump and your business’s performance will jump.
the business was now caught in a downward spiral. He felt he would just bundle along awaiting for the day when a knight in shining armour would take it off his hands. All sounds a bit depressing doesn’t it, but unfortunately it is all too common. Is it a lost cause? Well no, it may not be too late. The first step is for the owner to look at the man in the mirror and realise that the business is a reflection of him, and for the business to change the owner has
to change first. Falling back in love with the business and renewing his passion for the business will kick start the magic, the energy and buzz that will attract and keep talented people. So for that business it is time for a spring clean but it is a good reminder to spring clean your business. Go on, have a go yourself, it may be time to clear all that rubbish that has built up over the years so that you can see what has been hiding. You might be astounded with the results!
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Recruiting using the Values Vs. Results model Discover why hiring based on values or moral character always wins compared to recruiting purely on results.
Imagine a square on a piece of paper and the square is split into four quadrants. Along the top is results and along the side is values. The boxes are separated into + and – signs (see main image). This model came from Jack Welch who is the previous CEO of General Electrics. Jack presided over the business in probably its most successful era ever, which lead to him being voted one of the most influential leaders of the last century. He did some work with Brad Smart on ‘top grading’ – a methodology which looks at how to recruit the right talent and how to reward the right talent. Looking at the first box: someone who has negative results ( they are not doing the job well) who also has negative values, unfortunately you are going to have to fire an employee who fits into this quadrant. They cannot achieve the results and they are also not aligned with the core values of the business. If you are in this situation you need to review what went wrong during the hiring process and make the necessary changes to avoid another serious miss-hire. You then have employees who get negative results but have good values – i.e. they are truly aligned with the company’s value structure. In this instance you should train and coach them to improve their skillset. However, you can only do that within reason. Businesses are fluid and as the business grows not everyone will grow with the organisation. Sometimes the business will grow and employees won’t have the talent 16 | FBM MAGAZINE 2016
to achieve the results in a more demanding role. This is seen very often in businesses that are scaling up very quickly. Sometimes you will give the training and the employee will still not be able to step up. The quadrant that is hardest for business owners to hear is where people are getting really positive results but they have negative values. Now to be extra clear – YOU CANNOT TRAIN VALUES! Often you see people who are achieving really great results but their attitude towards the company is extremely negative. Many business owners ignore the bad behaviour because they justify in their mind that, because this person is getting great results and making money, it’s OK – however this is not the case. Imagine for a moment a fruit bowl with a selection of crisp, juicy red apples, but below those apples is a rotten, decaying apple. What do you think happens to the rest of the fruit over a period of time? The rotten apple will affect each crispy red apple until the entire bowl is rotten. You cannot have people in your organisation that have negative values being rewarded, it sends out the wrong message to the rest of the team. Jack Welch said that you need to (metaphorically) ‘shoot these people in public’ i.e. make an example of them in front of the rest of the team. That sounds really harsh, however this sends a clear message to the team that negative values will not be tolerated whether or not you are achieve great results.
V a l u e s Really what you want is someone doing a great job and who is a great model citizen. This leads us on to the final quadrant; positive values and positive results. Look at what is appropriate to reward these people. People who are doing a great job and have excellent values can have their careers ruined by a promotion because, either they did not have the attributes, the talent or the desire to be at that next level. So only promote where appropriate, where it is not appropriate you must
Results + +
make sure that you reward. Just remember that these are the people in your organisation that you want to showcase for everyone else to follow. This Values and Results Matrix is one of the key tools used by Gazelles certified coach Peter Boolkah.
teams are happier, perform better and are more successful overall. You can hear Peter explain this on the Fluid Business Podcast and download the Values Vs. Results Matrix visit: www.fluidbusiness.co.uk/025.
Using the matrix is one of the easiest ways to make people-decisions to avoid holding on to people that you shouldn’t and making justifications where you shouldn’t. Companies that build teams with strong moral character win. Their
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TEAM MANAGEMENT: IS IT TIME TO RAISE THE BAR? By Ray Moore, originally posted on thelevelsblog.com
Do your team amaze you or frustrate you? Interestingly, the missing ingredient for them to continually amaze you may be already in your hands. So, if you feel that most of your team under perform then perhaps its time to look at the common denominator. YOU! Perhaps a little harsh, but before you stop reading, think about it for a moment and see if it just might be the case.
But, before they can change you may have to change. You may need to give yourself permission to grow and then perhaps you will amaze yourself!
In the early stages of growing a business it is so easy to be the solution provider, to always be there to take the decision, to always be right. Quickly, you become the bottleneck to growth and soon the team believe they are not capable of getting a decision right. They lose confidence in their own ability to make a decision, and so it becomes easier to ask you than to think it through themselves. Together, you have stopped growing.
Raise the bar, stretch them and allow them to grow. Be there to mentor and support them and allow them to see that they are better than they think they are and see what happens.
Is it any wonder that over the years I have found the missing ingredient is plain, simple, self confidence? Indeed, I have found the vast majority of employees are much better than they think they are! It’s just they are not aware of their skills, knowledge and talents. Unlock that, give them permission to grow and they will amaze you.
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Beware of placing too low an expectation on yourself and your team because guess what, their actions and responses will just reinforce your belief.
Catch them doing things right and congratulate them straight away. Don’t leave it for another time or it will be lost. The magic moment to boost confidence is in that instant when you have caught them doing it right. Sometimes, you may feel uncomfortable praising a team member, maybe they’re an older member of the team or a family member, but do it anyway. Congratulate them and watch them light up as the energy flows. Lastly, don’t forget to congratulate yourself, because guess what? You are better than you think you are!