Fluid Business Magazine - Summer 2018

Fluid Business THE MAGAZINE FOR BUSINESS OWNERS

THE TEAM ISSUE TEAM DYNAMICS

LEARN VS. CHANGE

PEOPLE ARE THE FUTURE

HOW PROFILING TOOLS CAN IMPROVE COMMUNICATION

WHICH ARE YOU MORE WILLING TO DO?

HOW TO DEVELOP YOUR TEAM

SUMMER 2018

Can your team step up to the growth challenge?

Learn how to develop an All Star Team with our free e-book!Â

Download it here www.fluidbusiness.co.uk/free_team_ebook

THE TEAM ISSUE 04

Fluid Insider Find out what we've been up to this quarter.

05

Business Q&A The coaches share their expert knowledge by answering our question of the issue!

06

What defines an All Star Team?

Find out what the difference is between a team of all stars and an all star team!

08

12

How can a profiling tool improve communication in

How to keep your family business relationships healthy

14

your business?

5 ways to train and develop your team Ensure you have a strong and stable team at all

Discover the work-life balance when

times with these 5 tips on training and developing

it comes to your family business.

10

An introduction to Talent Dynamics

your employees.

What does quality of life mean to you?

18

Learning vs. changing Find out which you do more of and what this

Peter Boolkah shows you working hard

means for your business.

doesn't have to come with a sacrifice.

A note from...

NATALIE HARIRAM Managing Director, Fluid Business Group Welcome to the Summer edition of

It's been another busy quarter here

the Fluid Business Magazine. The

at Fluid and we've welcomed a new

theme of this issue is teams and

face to the team - Lizzy Drewett is

people.

our new Marketing Executive who's focusing on marketing across the

We all know teams are an important

academy and coaching.

part of a business but how can you make sure your team is the best it

Our Member's Zone launches in

can be? Learn how to create an All

early August. It will be full of

Star Team throughout this issue.

exclusive content from our coaches including vlogs, podcasts, webinars

Are you part of a family business?

and much more so keep your eyes

We look at how to make a

peeled for that and have a great

successful business without

quarter!

sacrificing family life.

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Fluid Insider An update on what we've been doing here at Fluid Business Group over the last quarter and a look at what's to come!

By

Lizzy Drewett

Marketing Executive

We hope you're having a wonderful summer so

What does quality of life mean to you and have

far. The weather has been great plus England

you found the right work-life balance? Check

making it through to the semi-finals of the World

out pages 10 & 11 to read Peter's view on how to

Cup caused weeks of excitement throughout the

achieve this.

country! A great example of a young team pulling together to exceed expectation.

We're looking forward to another successful quarter continuing to work on our Fluid Business

Here at Fluid, we've been looking closely at

Academy - remember you can take the Fluid

teams this quarter. What does it take to ensure

Foundations course for free over at

your team is happy and working harmoniously

www.fluidbusinessacademy.com.

together? Ray explores this on pages 6 & 7.

Have an amazing quarter!

y z z i L

Coming up in this issue...

5 WAYS TO TRAIN AND DEVELOP YOUR TEAM P.14

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HOW TO KEEP YOUR FAMILY RELATIONSHIPS HEALTHY AT WORK P.08

Business Q&A What makes a successful week at work?

Peter Boolkah - Business Coach A successful week at work comes down to your attitude throughout the week.

Having a positive outlook can increase motivation and can help how you deal with situations if something doesn't go to plan.

Andy Sleet - Business Coach I think organising and prioritising your plan for the week contributes to a good week at work.

If you set out with good intentions then you're in the best possible position to take on any task.

Ray Moore - Founder & Managing Coach If the people around you are on the same page and share the same passions then you're more likely to have a successful week at work together.

We can all push each other towards success!

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FBM Summer 2018

What defines an All Star Team?

Have you ever wondered what differentiates a

However, as the business starts to transition to a

winning team from a team that has great

medium sized business (50 employees plus) the

potential but never quite makes it?

pressure on the talented individual becomes too much.

In sport this is often quite clear. Consider the team of all stars, full of talent, who don’t play

To truly unlock the potential of the business, the

together as a cohesive team and are beaten by

future must be based on building an All Star

a team of less talented players who pull

Team that work together.

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 etc.

ork w s m a e T "All Star ards w o t y l s s tirele als." o g m a e the t g n i v e i h ac

It’s the difference between an All Star Team and a Team of All Stars. The members of an All

There are many things that differentiate an All

Star Team work for each other to achieve a

Star Team from a Team of All Stars.

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

A strong leader that enrolls and inspires their team to achieve a common vision.

aim to massage their own egos.

The leader has a clear vision and As a business develops through the levels from

attracts talented individuals who want

a micro enterprise (up to 10 employees) to a

to help them on their journey.

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.

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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.

The team truly commits to the outcome and are

So an All Star Team has common values. These

prepared to be held accountable for achieving

are clearly defined and written down, they are

results and being responsible for their actions.

not assumed. The values underpin every action and decision. Issues are openly discussed and

All Star Team members continuously develop

resolved to strengthen the team.

themselves and others. They attract the best talent that is available at the organisation’s

Team members are recruited on values first and

salary levels.

skills second. Skills can be developed but if the values are not aligned then trust will be quickly

All Star Team members are prepared to give

undermined and an All Star Team will be

and receive open and honest feedback.

transformed into a Team of All Stars.

An All Star Team must be underpinned by

The successful transition from a Team of All

common values that build trust between all the

Stars to an All Star Team is one of the hardest

team members.

steps in business. Indeed many of the team may be loyal employees who have been with the

Interestingly, we assume that our definition of a

company from day one.

word, especially a well-used word like Trust, is the same for everyone.

Unfortunately, it also maybe these individuals that are not aligned to the company future and are holding the company back.

But what’s our basis of Trust?

Often loyalty is also a core value of the business and therefore the creation of an All

TEAM

Star Team in these circumstances can lead to a conflict of values.

This in turn stifles open and honest communication.

How do we know that we trust someone?

Let me explain, we all have our own rules about how we view our world and we put all our interaction with people through this ‘rule filter’ to get our perception of reality.

We assume that when we are talking about trust to others we are all viewing it through the same rule filter. But is the case?

This article was originally featured on the Fluid Business Blog www.fluidbusiness.co.uk/blog

As our rules are built up by a combination of our past experiences, family and societies influences, to name but a few, so is it any wonder that we find it so difficult to define a simple word like trust that everyone can agree with?

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How to keep your family business

relationships healthy

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There are many fine strengths of successful family businesses.

However, as in any business when too much emphasis is placed on a strength, that strength can become a weakness!

Undoubtedly, the close ties and common language within a family business fosters a strong culture underpinned by a shared history.

However, the boundary between office and home can easily become blurred with discussions around the dinner table or at family events a common occurrence.

In the early growth period of a business this informal communication is a huge strength and can result in speedy decision making and actions.

As the business and family grows and matures, this blurring of boundaries can become a major weakness which spills over into pressure on relationships and resentment between family members.

As with team meetings set some rules and stick to them. Let’s have a look at a simple example that highlights the use of rules.

When you start a business with a family member, in the early days, communication boundaries can be complicated. Especially if you also live together!

It's easy to continue office discussions after hours. This means you get no break from the stress and you can end up feeling quite overwhelmed.

The best way to overcome this is to set clear rules and boundaries.

Give yourselves permission to discuss business only in office hours, for example, between 8.30am and 6.30pm, Monday to Friday.

Outside that time you can 'red card' the discussion unless agreed in advance!

Within office hours you are directors, owners and work colleagues. Outside office hours you are family members.

It can result in those involved in the day to day operations feeling they can’t escape the pressure and those not involved in the day to day operation of the business feeling excluded.

What happens in the office stays in the office. What happens at home stays at Communication becomes strained and home. Yes, agreed rules and boundaries as those resentments build, they spill are definitely necessary! over into business relationships.

It takes discipline to adhere to the rules So how can we keep these but then the rules become the habit and it will feel uncomfortable to stray relationships healthy? outside the boundary!

Well, the first step is to become aware For more advice and information that there is an issue. It is so easy for it on Family Business, you can read to become a habit, the norm. blog posts by Ray Moore at The solution is simple yet so often www.fluidbusiness.co.uk/blog thought to be unnecessary in a family.

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What does quality of life mean to you?

For some people, having a good quality of life equals the big dream house, the flashy sports car, expensive holidays and of course, living life with an abundance of cash.

But for others, a happy quality of life means building relationships and enjoying a strong network of family and friends - without the need to live for excess.

In reality, a great quality of life is where you’re at today. As an influential business owner, the importance of achieving a compatible work-life balance is often the difference between success and failure.

Here’s some food for thought… consider how many professionals are perhaps not where they had envisioned themselves to be at this point.

There is usually a reason for this...

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Is it Time to Introduce Change?

Quality of Beliefs and Dreams

Quality of life can be simplified as a by-product

In order to ask the correct questions, you must

of our decisions, actions and achievements. If

relate these back to your beliefs and dreams.

you want to improve your quality of life, it’s time

People will always tailor questions specific to

to embrace the power of change. Whether it’s

their own beliefs, goals and dreams.

attitudes, lifestyle or business choices; once change becomes habitual you’ll discover even

At the end of the day, we’re all human which

the smallest adjustments can offer huge

means we have the power to control our own

benefits.

destiny and think BIGGER. Where some people fall into the ‘coasting’ trap is when their self-

Quality of Results

limiting beliefs become normal. It’s important to

A positive catalyst for change is to measure

understand that restricting beliefs usually come

quality of results and daily output. Whether it’s

from a lack of understanding or education

reviewing your business skill set or analysing

earlier on in life.

your abilities as an entrepreneur, managing director or CEO; results help us pinpoint

Here’s the reality: No business owner was born

whether or not things are working effectively.

having everything figured out. It takes time, practice, effort and training, but you CAN learn to become wealthy.

Quality of Training and Mentorship We’re all different and we each learn at a different pace to the next person. So if you’ve come to the realisation that your business is not where you’d like it to be, the next step is to revisit this bottom layer and look at your quality of training and/or mentorship.

Quality of Actions Now let’s take a step back and think about where quality of actions come in: What you do and how you do it. Remember, everything you have is based around decisions, so actions will always be determined by the quality of your decision-making process.

Quality of Questions Decisions are largely governed by the quality of questions asked, which is also a key area of business that requires improvement. If the facts are not there to begin with, assumptions can be the root cause of miscommunication. And while

Unlike the more traditional methods adopted by the industrial age, we’re extremely fortunate to live in an age of exciting ways to learn new skills. From books and audiobooks to video tutorials and online webinars, there’s an abundance of resources for you to access and apply to your own business.

If your goal is to reap rewards from all this information, it’s crucial that you prioritise and choose the right mentor. After all, the era of the informed worker is now very apparent, so as business owners we must be able to stay current and implement our learnings.

some people have the ability to make exceptional decisions, others may need a little help in this department - and that’s OK. It’s all about asking the right type of questions.

By re-learning the foundations, this extra training will fill any knowledge or educational gaps that could be working against your dream work/life balance.

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How can a profiling tool improve communication in your team?

We are all different!

If we weren't, we wouldn't have the plethora of talent and personalities in our businesses as we do today.

Having people with different qualities in a business is a positive thing and means that people can become experts in their roles helping to create flow within your business.

However, with different types of people, comes different ways of working and communicating.

Understanding how each individual works best can take some effort from you the business owner or team leader. Using a profiling tool can make this quicker and more efficient.

What is a profiling tool?

A profiling tool can help you to understand, not only your team, but yourself as an individual and your preferred ways of working. There are a range of profiling tools available and here

e it's mor e l p o e ep orking w "For som t e n a to go to 's more t i natural e m o nd for s event a hem to t r o f l a natur adsheet e r p s a open mbers." u n h t i rk w and wo

we're going to introduce Talent Dynamics which is designed to be used for teams.

Talent Dynamics is made up of 'assessments' employees can take to give you a greater understanding of the style in which they communicate. The word assessment is used loosely as this isn't to put people into boxes and there is no right or wrong when it comes to the answers given.

They can take around 15 minutes to complete

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and once complete, the individual profile will be revealed.

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Once you understand your teams profiles, you'll understand why they communicate the way they do. Once you understand this, you are more likely to be on the same wave length as your team.

For example, if you know that a member of your team works especially close to detail then understanding this will mean you can work and connect better together.

"Some of the best teams are made up of a mixture of profile types - understanding this means you can play to each others strengths and this is when the magic happens!"

Key points to take away

Talent Dynamics profiles

Profiling tools improve communication in teams.

They do this by looking at how

Profiles may also reveal qualities in people which highlight certain tasks that may be better suited to them.Â

people work and communicate differently.

This helps you understand how

Once the energy and communication is right

and where people are different.

the flow will be enhanced and the team will

Once you know this, you can

click.

make necessary changes to ensure your team is working

To give you an example, here are the profile types you'll see when your team completes the Talent Dynamics assessment.

Energy

smoothly together.

Voila!

Characteristics

Dynamo

Great at getting things started and creating new opportunities.

Blaze

Loves networking and meeting new people. Passionate and outgoing.

Tempo

Compassionate and reliable. Knows when the right time to do something is.

Steel

Analytical and organised. Great at having systems in place with a good eye for detail.

t ou b a d e or an m s n ic at m ar s a le l u yn uk To D ai t o. m n c e s. le m es Ta a n i te s ur bu o d i y flu @ llo he

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5 WAYS TO TRAIN AND DEVELOP YOUR TEAM

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"The mind is not a vessel to be filled but a fire to be ignited"

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5

WAYS TO TRAIN AND DEVELOP YOUR TEAM

1. Communicate with employees Find out what their goals are and what they want to achieve. They'll respect being given the driving seat and will be more enthusiastic about developing.

Keep learning continuous

2.

Learning and developing doesn't have to be done just once or twice a year! Monthly meetings researching a new topic as a team can be great for motivation. Check out our e-book to start you off - www.fluidbusiness.co.uk/Free_Team_E-book

3. Assign tasks to encourage development When setting tasks for members in your team, rather than selecting the most capable for the task, think about selecting someone you know will benefit from learning how to do the task along the way.

This is a great way to develop an employee.

4. Be willing to spend some money Many training days and seminars are free, however, don't be put off if you have to pay out for them.

Conferences and hands-on training days can be a great way to network with like minded people and learn from well known brands.

5. Share your knowledge and your contacts!

While external training can be really beneficial, look at what your team members can pass onto each other and encourage your team to help each other learn and grow. Connect your team to any of your contacts who are experts and mentors. Inspire your employees to network with these people.

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Coaching Tip The key for training and developing your team successfully comes from your relationship with them from the beginning.

Make sure you're both on the same page, get to know your team members and what they're hoping to achieve. This way, no one will waste any time doing something they don't want to do.Â

Let them know what you're able to help with when it comes to training and encourage them to look into new ways to develop their skills.Â

Take their ideas on board and consider everything fairly. Your team will gain confidence from the encouragement and this will improve your working relationship.

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How do you compare?

A light-hearted quiz for you to take!

The great thing is it's only two questions and you can self-mark the answer and get an immediate response.

We have asked these questions to hundreds of business owners over the last decade and interestingly there is a remarkable similar range of responses. So, without further preamble!

Question 1

Question 2

Score yourself between 1 and 10

How happy are you to learn new ideas and information?

Score yourself between 1 and 10

How happy are you to implement change?

Score yourself at 1 if:

Score yourself at 1 if:

You are happy with your lot and do not want to

You can’t see the point in learning.

You know everything you need to know.

You have a closed mind and think you can’t teach this old dog new tricks!

You are not prepared to read or listen to what anyone’s point of view.

rock the boat.

You keep your head down and do what you have always done.

You rely on your experience to get by.

You are not prepared to change come what may.

Score yourself at 10 if:

Score yourself at 10 if: You love to learn, always reading books, articles

You will try anything that is going to improve

and blogs or listening to audio or watching

your lot.

You always give it a go and make it happen no

documentaries etc.

You are always open to consider another

matter what the consequences.

You believe that there is always a better way of

person's point of view.

You are always looking at new ways of improving how to do something.

doing something.

You just revel in uncertainty as new is exciting.

You believe that there is no such thing as too much change.

Next Multiply the two numbers together (you may need a calculator).

Here's the interesting thing... between 40 and 50.

Yes, there have been some who score over 70 and even fewer who score under 30.

Over the last decade we have found that the typical score is

And, what's even more interesting is for the majority of business owners, the second score i.e. implementing change is lower than the first score i.e. learning.

Typically, business owners are happier to learn rather than putting that learning into practice.

Now, you must be happy to learn because you are reading this business magazine but what will it need for

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18| Summer 2018 you to change and implement some of the ideas that you have read?

Get in touch at fluidbusiness.co.uk.

Keep an eye out for the next issue of Fluid Business Magazine coming 26th October 2018!

New Book by Ray Moore Release date: September 2018