Business in Action Issue 05

business

ISSUE 05

Compliments of 4xi Global Consulting & Solutions

IN ACTION

CREATE A WINNING WORK-LIFE BALANCE

Help employees become raving fans PG. 46

TACTICS FOR BUILDING WEALTH

Get in the right mindset to achieve success PG. 34

LEAD MEETINGS WITH MEANING

How to stop wasting time and drive results PG. 40 ISSUE 5 COVER PRICE $6.99

4xi Global Consulting & Solutions Email: hello@4xiconsulting.com

5

53939 38570

If you're like us, we spent the last few weeks of 2022, and now the first few months of 2023 setting ourselves up for success. Finding success in the current climate involves so much more than navigating numbers and analyzing the competition, it requires us to work smarter, not harder.

It is with this in mind, that we're excited to be launching three digital platforms this year which we believe will be game changers for leaders and organizations overseeing highly dispersed operations: - Elevate© - a "business in your pocket" self-auditing app for better operational performance.

- DATAxi - data ingestion and visualization to measure your most important financial metrics.

- Criterion Benchmarking - membership based survey and insights platform.

If you want your business to work smarter, not harder, then we'd love to talk and explain how these powerful business tools can drive impact to you and your business.

This is issue 5 of our Business in Action magazine and is full of interesting articles around workplace experience, holding effective and productive meetings, and striking that illusive work-life balance.

As always, it's a pleasure to send you this magazine to our friends, clients, and colleagues of 4xi. Enjoy the read, and here's to a successful 2023.

Simon Elliot, Barbara Boden Managing Partners and Co-Founders

4xi Global Consulting & Solutions Email: hello@4xiconsulting.com www.4xiconsulting.com

contents

ISSUE 05

CURRENT EVENTS

02 | How to Protect Your Business from Inflation These tactics can help your business succeed in a tough economy.

40 [ LEADERSHIP ]

CULTURE

Lead Meetings with Meaning

Practical tips to help you host more effective and goal-driven meetings so your team can thrive.

06 | The Cutthroat Crisis

Discover why fiercely competitive workplaces can actually be more harmful than productive.

business IN ACTION

PUBLISHER

Chief Executive Officer Steven Acree publisher@remindermedia.com CULTURE

SALES

12 | How to Beat Workplace Bias

18 | The Power of Business Networking

Tips for identifying and eliminating prejudice in your workplace.

Use these networking strategies to grow your business exponentially.

EXECUTIVE

President Luke Acree Chief Marketing Officer Joshua Stike Chief Operating Officer Michael Graziola MARKETING

Director of Marketing Dan Acree Director of Creative Services Kristin Sweeney Director of Content Jessica Fitzpatrick marketing@remindermedia.com EDITORIAL

Editorial Manager Alexa Bricker Senior Editor Matthew Brady Senior Layout Designer Elisa Giordano Content Writers Lauren Kim, Bonnie Joffe, Andre Rios editorial@remindermedia.com MARKETING

ENTREPRENEUR

24 | 5 Ways to Get Media Coverage for Your Business

28 | Unlock Your Prey Drive

Here’s how to make the power of media work for your company.

Learn how to tap into your predatory instincts as a business leader with tips from America’s Coach, Micheal Burt.

SALES AND CLIENT SUCCESS

Vice President of Client Success Ethan Acree Vice President of Operations Nicholas Bianco Vice President of Sales Michael Campanile hello@remindermedia.com OPERATIONS

Vice President of IT Thomas Setliff Director of Projects Kelsie Schmall Director of Business Intelligence Daniel Gallaway Director of Manufacturing Shannon Mosser Vice President of Finance Shana Lebofsky Director of HR John Keogh hr@remindermedia.com

ENTREPRENEUR

PRODUCTIVITY

34 | Wealth-Building Basics

46 | Create a Winning Work-Life Balance

Nate Auffort, a professional sales advisor and wealthbuilding expert, shares his expertise for business owners creating their own paths to success.

A happy home life equals a happy work life. Follow this guide to foster both for your employees.

Business in Action is published by ReminderMedia.

For more information about Business in Action, please visit us at www.remindermedia.com, email us at info@remindermedia.com, or call us at 866-458-4226.

All rights reserved.

NO PART OF THIS PUBLICATION MAY BE REPRODUCED WITHOUT THE EXPRESSED WRITTEN CONSENT OF THE PUBLISHER. This magazine is for information and entertainment purposes only; it is not an attempt to solicit business.

The contents of Business in Action are for editorial purposes only.

All photos and/or artwork in Business in Action are provided by Getty Images, and icons by Noun Project, unless noted.

CURRENT EVENTS

How to Protect Your Business from Inflation

Every American business has been impacted by inflation.

Use these strategies to stay ahead financially.

BY LAUREN KIM

businessinaction.com / 3

I

N TODAY’S ECONOMY, your business may struggle as costs rise for fuel, labor,

and other necessities. However, by being shrewd, you can offset the effects of inflation and ensure your company is well protected.

Moneyball your business Much like baseball general manager Billy Beane used player statistics to make the Oakland Athletics a winning team on a limited budget, as shown in Michael Lewis’s book Moneyball: The Art of Winning an Unfair Game, look at your business to see where it can be fine-tuned.

Evaluate what’s working and what

If you don’t know that, you haven’t

expenses, as they can add up. “One

isn’t, and get rid of what isn’t a

Moneyballed your business.”

of my pet peeves are FedEx, UPS, or other overnight delivery fees,” he

moneymaker. “If your company sells twenty products and you notice that

Cut costs

says. “You should review your usage of them and evaluate which ones are

only five are profitable, you can cut the other fifteen and save,” says Todd

You may need to reduce your

necessary and which ones aren’t. If

Scott, a regional vice president for

spending to protect your bottom

you plan ahead, you could use less-

Ameritas. You can also streamline

line, and there are several ways you

expensive two-day delivery or send

your business by weeding out costly

could do this. To hedge against

items electronically instead. Don’t fall

procedures. For instance, during

rising prices, consider securing new

back on what’s easiest, as the costs

the COVID-19 pandemic, his agents

vendors with lower prices on raw

could accumulate.”

started using Zoom regularly to

materials and supplies, and stock

connect with clients. “Now that they

up on essential items to hedge your

don’t have to drive, their costs went

bets if prices get even higher. You can

down,” he explains. “Look at your

also trim unnecessary expenditures.

Now more than ever, it’s important to

numbers. I tell my agents they should

Brian Fields, a vice president and

keep a close eye on your cash flow.

know how much money they make

financial advisor at Merrill Lynch,

Implement practices to help you

every time they make a phone call.

suggests reconsidering even small

get paid faster, such as asking for

4 / BUSINESS IN ACTION

Manage cash flow

partial payment up front and using

processes like scheduling or billing

incentives, and, if need be, penalties

and increasing staff productivity

to encourage customers to pay on time. Examine the due dates of your account payables to avoid paying them before you have to, or ask if you can get a discount for paying

When costs are high, it’s imperative to utilize your employees effectively.

early. Alternatively, negotiate with

by using incentives. It might seem counterintuitive to reward staff with raises in this economy, but inflation will also impact your employees, and using financial incentives to increase retention can be more cost-effective

your vendors to extend your payment

“Does your bus have the right seats?”

than training new staff. You could

dates, if possible. Another good idea

he asks. “Do you need a sales seat?

also offer employees remote or hybrid

is to put off arbitrary spending so

Do you require an HR seat? Make

schedules to help them avoid personal

you can hold onto more of your cash.

sure you have the correct seats on

costs like commuting or childcare.

“You should prioritize your needs and

the bus, examine your business,

put off the wants until the economy

and determine whether you have

improves and you are in a better

the people you need in the right

situation,” Field says.

seats.” His company uses employee-

Finally, you could consider pushing

assessment tools from Gallup,

some of your extra expenses to your

such as the CliftonStrengths 34,

customers. Be sure to check your

Consider your debt

Pass costs to consumers

to determine employees’ strengths

competition’s prices for similar

Interest rates have been high, so, if

and to find which role suits them

products and services first, and

you can, try to pay off some of your

best. “You might have a person in

keep your prices lower than theirs

debt. You could talk with your lender

sales, but it’s not what they like,”

if you can. Be up front with your

about reducing interest rates on

he explains. “They may work lots of

customers about your reasoning,

your loans to potentially lower how

hours but aren’t productive. If you

and inform them in advance so

much you’ll pay. You could reserve

move them to a new seat, they can

you can avoid losing them. If you

the money you save for unplanned

be an effective part of the team. You

are honest, chances are they will

expenses or work with a financial

need the right seats and the best

understand and reward you with

advisor to chart the best financial

people in those seats.”

extra customer loyalty, which can

course for your business.

propel your business even through Increase productivity

turbulent times. n

Staff efficiently Productivity is important in lean times When costs are high, it’s imperative

so you can increase profits on a tight

to utilize your employees effectively.

budget. Smart staffing is one way to do

Scott compares staffing your

this, but there are other cost-effective

business to filling a school bus.

methods, too, such as automating

Take Action

Analyze your company, and look for ways to cut costs, improve productivity, and streamline your business.

businessinaction.com / 5

CULTURE

The Cutthroat Crisis: How You Could Be Deterring Talent Competition and rewarding success increase productivity, boosting employee performance.

But how can you ensure you promote healthy competition and not cutthroat behavior among your most talented employees?

BY ANDRE RIOS

6 / BUSINESS IN ACTION

businessinaction.com / 7

T’S TIME TO MAKE staffing cuts. Those who meet a specific sales quota are considered for raises or promotions, while those who lag behind their peers face demotion or termination. Only the top performers get to stay, but, for others, there’s blood in the water. The race begins.

Some leaders may think that stiff workplace competition and a harsh, austere culture would encourage the cream to rise to the top, while poor performers naturally get filtered out. In reality, the opposite may be true if this competition goes too far. Employees who sabotage, bully, and one-up each other to earn supervisors’ approval create a toxic workplace, and such a cutthroat work atmosphere may hurt your organization in the long run.

Cutthroat behavior among employees is often a consequence

The risks of cutthroat behavior

An MIT Sloan study found that toxic,

of poor leadership. When your team

What’s so wrong with a tough

unethical workplaces are not only

observes that you’re willing to profit

workplace? Why not encourage the

ineffective but also the number

or succeed by any means necessary,

tight-ship mentality associated

one reason people cite for leaving

your employees may strap on their

with law school students and new

their jobs—even when they’re

boxing gloves to match you. The

physicians in residency—the sort of

passionate about their careers. As

resulting toxic atmosphere plagues

rigorous environment where your

Mark C. Perna, a risk-management

organizations in multiple industries,

team is not only eager to please but

expert and contributing author

including retail, entertainment,

also afraid to slack off?

for Forbes, states, “To the ‘like it

hospitality, and real estate.

8 / BUSINESS IN ACTION

or lump it’ workplace philosophy

As a result, cutthroat environments may homogenize, as they can become unwelcome to diversity, which hurts leadership in the long run. It’s hard to compile the best talent when segments of the population feel glued to the floor.

To preserve talent and promote longevity, business leaders should make it a priority to identify cutthroat practices and put a stop to overall toxic workplace culture.

Symptoms of cutthroat culture Look out for the top symptoms of toxicity in the workplace, like fawning behavior. Employees eager to please may take strides to earn your favor, including disingenuous flattery. Other symptoms of cutthroat behavior include pressure to work extremely long hours, accusations among salespeople of “stealing” clients, and coworkers openly bullying one another. of the past, workers are adding a

Worse, the underlying desensitization

new option: leave it. In a historically

in cutthroat workplaces may also

You should also be aware of

tight labor market, employees have

lead to racial, gender, and other

toxic workplace politics, which

more choices than ever before—and

forms of targeted harassment.

can reward alliances rather than

don’t have to settle if their current

Employees may even find themselves

excellent job performance. These

work environment is unpleasant,

incapable of or discouraged to raise

include employees separating into

dangerous, or unethical.” These

complaints of discrimination. In an

insular cliques, sabotage, and one-

complaints could include workplaces

environment where only strength is

upmanship in meetings: “Great job,

that encourage toxic competitiveness

rewarded, grievances may register

Liz. I’m glad you followed my advice,

to get ahead.

as weakness.

and it helped you sign a new client.”

businessinaction.com / 9

Where organizations go wrong To address cutthroat workplace

life and employees should achieve by

Balancing competition with

any means necessary.

community in your workplace can

culture, you may first have to put your own leadership behavior under

therefore save your best talent.

What to do about cutthroat

It’s vital to job satisfaction that

the microscope. Do you openly make

workplace culture

your employees feel supported

some employees the butt of jokes?

The secret lies in trust. While your

and encouraged.

This may seem like good fun when

employees and colleagues should

you do it, but employees may mimic

inherently compete with one another,

All this being said, competition is

your behavior and harass coworkers

they should also trust each other.

good for business. There are few

to earn your approval (and avoid

Across various industries, trust

motivations to excel as powerful as

being caught in your crosshairs).

fosters success. And trust encourages

rewarding great performance. Nearly

longevity. The MIT Sloan study on

all businesses have a hierarchy

Do you blur the lines between

the Great Resignation also found

structure in place (even when they

work and life? Promoting work-life

that a toxic culture is 10.4 times

actively try to resist it), and with each

balance doesn’t hurt your team’s

more influential than compensation

level of promotion, the pool only gets

commitment; rather, it ensures

concerning attrition. While this figure

smaller. With room for fewer people

that they approach each workday

is associated with a variety of toxic

at the top, rewarding the best talent

refreshed and with a more positive

environments, cutthroat culture is a

is only profitable for managers and

attitude. A healthy work-life balance

significant contributing factor, and

owners alike.

can also prevent cutthroat culture,

MIT Sloan listed this as one of the top

which is often born out of a company-

five complaints employees raise when

To prevent cutthroat behavior, try to

wide perception that your work is your

reviewing their workplaces.

create productive competition. How? Focus on rewarding top performers, not punishing lower performers who

Look out for the top symptoms of toxicity in the workplace, like fawning behavior.

Employees eager to please may take strides to earn your favor, including disingenuous flattery.

10 / BUSINESS IN ACTION

still meet quotas. Encourage those who need help, and reprimand poor workplace performance privately— don’t make an example of people in front of their peers. A culture of shame motivates workers to blame their peers for errors or take credit for coworkers’ accomplishments.

Make it clear as day what constitutes unethical behavior, and ensure that this behavior will not be rewarded but punished.

Also, make positive collaboration a

your expectations realistic. As

foster success—and your leadership

fixture of your organization. Assign

Charlie Sull of CultureX told BBC,

takes notice. This could be your

tasks to teams when possible, and

“[Companies] don’t change much

opportunity to earn recognition of

even shuffle groups around from time

unless they’re pushed very hard, or

your own by ethical means. n

to time. Don’t underestimate active

there’s a sudden shock like a major

team-building activities, either. Team

CEO-led culture change initiative.

building encourages communication,

Even if the company wants to

builds trust among coworkers,

change, and knows how to, it’s a

and fosters an environment where

generally slow process that can take

employees excel because they enjoy

years in large organizations.” Lead

their work. This motivates your team

the charge in improving workplace

to excel, too, and put down roots in

culture, and your team will follow.

your organization.

Even if you manage only a small While leaders are responsible for

portion of a large organization,

correcting negative culture, keep

you may soon find that your efforts

Take Action

Write down three words that describe your company culture. If any of these words could be associated with a cutthroat workplace, develop a clear list of goals to replace those words with positive ones.

businessinaction.com / 11

CULTURE

How to Beat Workplace Bias Preventing it from wrecking your company’s morale and reputation begins with knowledge.

BY MATTHEW BRADY

12 / BUSINESS IN ACTION

businessinaction.com / 13

N RECENT

Just as important,

years, many

unconscious bias

news outlets

can be like a cancer

and business journals

in your workforce,

have addressed gender

silently eroding your

and race biases, two of

team’s morale and your

the most prevalent types

company’s reputation.

of American workplace

Even AI algorithms that

prejudice. So there’s a

companies use for their

good chance that your

hiring processes aren’t

company has already

immune to bias, resulting

addressed those issues

in a reported widespread

(and if it hasn’t, you’re

loss of revenue and

frankly behind the times).

customers—and catching the attention of the

But there are a slew of

US Equal Employment

other unconscious biases,

Opportunity Commission

also known as implicit

(EEOC), which started

biases, to be aware of.

investigating their usage

Understanding what they are and acknowledging that they exist in your business can be a first step to eliminating them from both your hiring process and work environment and helping your company

Often overlooked, age-based discrimination against middle-aged or older people is more prevalent than ever according to AARP, with 78 percent of older workers reporting that they have seen or experienced it.

Common types of bias As mentioned earlier, gender and racial biases have received ample attention in corporate America, and deservedly so. But they only scratch

reach its full potential.

The impact of bias

and fairness in 2021.

retention. Both intentional

to almost $300 million

the surface. Learning

and unconscious

combined in gender bias

about different kinds

It’s well worth your

discriminatory practices

settlements. Tesla was

of prejudice that can

time and effort to

are illegal, and some of the

sued for racial bias, and

permeate a business

take workplace bias

most well-known worldwide

McDonald’s agreed to a

culture is a smart way

seriously. It can cost

organizations have paid

$33.5 million settlement

to start addressing and

you, both literally (in

the price for allowing them.

with one of its store

eliminating the problem

fines or lawsuits) and

For example, Google and

owners who had sued for

and its potential toll on

in overall morale and

Signet Jewelers agreed

racial discrimination.

your organization.

14 / BUSINESS IN ACTION

Here are ten of the most common yet underdiscussed biases and how they can impact your team.

Ageism Often overlooked, age-based discrimination against middleaged or older people is more prevalent than ever according to AARP, with 78 percent of older workers reporting that they have seen or experienced it. But don’t forget that implicit bias can also be experienced at the other end of the age spectrum if you make or allow hasty generalizations about people in their twenties.

Affinity bias When you have an affinity for someone, you feel a kinship with them—which is not necessarily the best trait for hiring or promoting. So, for example, resist the urge to favor a candidate because they graduated from the same college as you.

Attribution bias This type of bias occurs when you make a judgment about an employee and then allow it to stick with them. For example, if a person arrives late for their first day of work, they become known for tardiness even if their initial lateness was because of something out of their control, such as being

businessinaction.com / 15

stuck in gridlock because

belief, which may blind

the interview process,

two consecutive resumes

of an accident.

you to other people’s

an employee may feel

against each other

opinions or facts. If you’re

pressured to conform to

rather than how each

Confirmation bias

a successful entrepreneur,

others’ opinions rather

candidate satisfies the

Have you ever felt strongly

you might be particularly

than think individually.

job description.

about something or

affected by this.

someone related to your

Contrast effect

Halo effect

business and found it

Conformity bias

As the name suggests,

If you get easily wowed

hard to let that feeling go?

This is a subtle form

this type of bias results

by one aspect of an

If so, you’ve experienced

of peer pressure or

from when you contrast

interviewee, such as them

confirmation bias—you

groupthink. Whether

candidates for hire or

having a degree from an

want confirmation of your

in meetings or during

promotion, such as pitting

Ivy League school, it can

16 / BUSINESS IN ACTION

cause you to ignore other

Proximity bias

potential red flags.

Especially relevant since COVID-19 began, this bias

Horn effect

occurs when a higher-up

Consider this the anti-halo

forms opinions and possibly

effect. In the case of this

makes decisions about

bias, you allow a negative

someone based on physical

attribute, even something

closeness—such as showing

superficial such as a

preferential treatment to

candidate repeatedly saying

in-office employees over

“Um” during an interview, to

remote workers.

stick with them, overlooking their positive traits.

What to do This list includes only a

Physical biases

portion of the biases that

This is all about first

can affect the employee

impressions and the

experience, so it may

judgments you make

seem like an impossible

from them. For example,

obstacle to overcome.

studies indicate that

However, communication

you may favor hiring

is key. Discuss the

Workplace bias has

addressed. This creates

candidates or employees

issue with your human

likely existed since there

a fairer, more equitable

because of physical

resources department

has been an employer-

workplace, improves

traits such as beauty,

and executive team, and

employee dynamic.

morale, and allows for the

height, or weight. People

decide whether tools like

However, in the twenty-

best people and ideas to

with disabilities, either

blind resume reviews or

first century, it’s better

rise to the top—a win-win

physical or mental, can

diversity training should

understood, more

for both companies and

be particularly impacted

be implemented. And be

discussed, and able to be

their employees. n

by implicit assumptions.

sure to go right to the

Also, although not always

source by anonymously

a physical characteristic,

surveying your employees

affect heuristics can cause

to gauge how they

you to prejudge someone

honestly feel about your

by a quality such as their

company culture and

name or even the types of

processes and their

clothes they wear.

growth potential.

Take Action

Research the various forms of subconscious bias, and honestly ask yourself which of them you or your company may exhibit.

Then talk to your HR director to find ways to address them.

businessinaction.com / 17

SALES

The Power of Business Networking Networking can be pivotal in helping you grow your business, allowing you to meet likeminded professionals, business owners, thought leaders, and entrepreneurs. BY BONNIE JOFFE

HE POWER OF BUSINESS networking should be recognized for the value it provides—to consistently increase the prospects you acquire while nurturing mutually beneficial relationships.

If you’re looking to boost your networking efforts, the following ideas can help you maximize your connection-building potential and create lasting relationships that will drive your business for years to come.

TYPES OF NETWORKING GROUPS There are several networking platforms available to business owners and other professionals. You may consider joining more

David DeCelle PHOTOS COURTESY OF DAVID DECELLE

18 / BUSINESS IN ACTION

than one, depending on the rules of

Networking International (BNI);

cultural organizations, advocacy,

the group, as some allow members

Young Presidents’ Organization

school, or religious groups, and

of only one profession or industry.

(YPO), a global leadership

community food banks. Though not

Do your research to determine which

community for chief executives

set up as a typical networking forum,

group pairs best with your goals,

under forty-five years old; Young

community service is a chance to

expectations, time commitment, and

Entrepreneur Council (YEC), which

meet other local people, allowing

financial obligations.

accepts members forty years old

you to broaden your personal and

and younger; and Entrepreneurs’

professional networks.

Casual groups

Organization (EO), an exclusive

These groups are far less formal

entrepreneurial, peer-to-peer

Professional associations

than others and allow professions

network, focusing on mentorships

In these industry-specific groups,

and industries to overlap. A chamber

and global networking. Since

such as banking, legal, financial, or

of commerce is an example of this

COVID-19 began, many of these

health care, the primary focus is to

type of group. It’s generally local to a

groups now offer both in-person and

exchange ideas and information with

town or city, or, for a broader reach,

virtual attendance or a combination

professional peers. By joining this

a region. These are usually face-

of both.

type of networking group, you will be

to-face monthly meetings held as

able to build relationships that may

breakfasts, luncheons, or evening

If you want to become a member,

open doors for you in the future, gain

mixers or even for fundraising

you will be vetted or interviewed

new contacts and potential clients,

purposes. They may also include

before acceptance. Most often,

and tap into target markets.

a guest speaker who sponsors the

you’re required to attend a certain

meal. There are no requirements to

number of meetings, whether

pass referrals or attend a certain

weekly or monthly, and you’re

number of meetings, so if you want

expected to provide referrals to

David DeCelle, president of Model

a more relaxed and flexible

other members each time you

FA, speaker, entrepreneur, and

networking experience, this may

meet. (Every group has its own

financial advisor coach, believes that

be the best choice.

quotas.) Spots for real estate agents

when you’re networking and trying

BEST NETWORKING PRACTICES

and financial advisors are highly

to build a professional relationship,

Structured groups

competitive, so it may take time to

you must begin with how you

Highly structured groups

get in if you are in these industries.

can give back. “It’s about the law of reciprocity. You should make

typically have one member per profession and may require a yearly

Community-service clubs

multiple deposits—meaning you

membership fee. Some of the

Business leaders will often donate

provide help and value—rather than

most recognizable groups include

their time to nonprofit groups, such

making withdrawals where you take

LeTip International; Business

as Rotary International, arts and

instead of give.”

businessinaction.com / 19

“

It’s about the law of reciprocity.

You should make multiple deposits–meaning you provide help and value – rather than making withdrawals where you take instead of give.”

- DAVID DECELLE

20 / BUSINESS IN ACTION

For more information, visit www.modelfa.com or connect with David on linkedin.com/in/ daviddecelle

businessinaction.com / 21

Create an elevator speech.

An elevator speech is a way to share who you are and what you do in the amount of time it takes to ride in an elevator. Unfortunately, it’s not so easy to encapsulate all of who you are in a thirty-second pitch. DeCelle says that people often spend too much time on their elevator speech and that it should be no more than two sentences. State why you love what you do and the kind of people you like to help. People want to know you care about them.

Respect other professional relationships.

If you are a financial advisor and the person you are speaking with tells you they already have a financial advisor, avoid selling yourself and your products. It’s best to acknowledge that you are happy they have this other relationship. This is the perfect chance to obtain their LinkedIn handle and other contact information.

HERE ARE SOME OF DECELLE’S BEST TIPS FOR MAXIMIZING YOUR NETWORKING EFFORTS.

with the person you are talking with.

Also, view this as a moment of

It could be about their kids, common

opportunity to learn what other

hobbies, travel, or food interests.

professionals are doing in your field.

Listen and learn.

relationships, do not ask questions

Set expectations.

“We have two ears and one mouth,

for your benefit. Rather, dig deep

Slow and steady wins the race.

so use them correctly,” says DeCelle.

and avoid surface-level small talk.

Since relationships need to be

Networking is not transactional; to

Ask specific questions such as,

cultivated, you need to set realistic

be successful at it, you need to listen

‘What is it about your work that

expectations. According to DeCelle,

and connect on a personal basis

you love?’

it can take up to twenty-four months

22 / BUSINESS IN ACTION

As you begin to build on these

before you begin to reap the rewards of your networking efforts. During that time frame, you should only be concerned about making deposits.

Also, it can take time to sort through which groups are the most beneficial for you.

Follow up.

One of the biggest mistakes people

Networking is not transactional; to be successful at it, you need to listen and connect on a personal basis with the person you are talking with. It could be about their kids, common hobbies, travel, or food interests.

make is their lack of follow-up after a networking event. To be an effective,

lunch-and-learn seminar, where you

congregate and what their interests

successful power networker, you

can share valuable information. As

are. You can then lead with value by

must not overlook this task. DeCelle

you begin to build trust and credibility,

sharing useful content, which will

recommends spending ninety

the number of referrals should

serve as soft touches as they scroll

minutes per day doing business-

markedly grow.

through their social media feeds.

follow-up emails, phone calls,

Leverage social media.

Whether you are a seasoned

or texts. He is also a proponent

Though in-person networking is a

networker or just beginning this

of sending video messages as a

very productive way to grow your

journey, you can build your business

follow-up because it makes it more

professional network, social media

exponentially by implementing these

personal. (Websites like loom.com

is a method for building your brand,

networking strategies. Remember

have useful tools to help with this.)

following, and credibility. DeCelle

to always be a good listener, ask

Start pushing out lots of well-

recommends identifying twenty

engaging questions, and construct

thought-out content to your new

people you want to know and then

an ironclad follow-up system. If you

contacts so you remain top of mind.

focusing on connecting with them

remain consistent and diligent in

on multiple platforms. This will give

your efforts, you’re guaranteed to see

you a lens into where they like to

it pay off. n

development activities by sending

Build a referral system.

Successful networking means building a robust referral network. You can accomplish this by thinking about conversations you’ve had with people you met. You could make the meet-up casual and social by having dinner or

Take Action

Do some research on the best type of networking group for you based on your goals and industry, and commit to joining one such group this year.

drinks with them or more professional and organized by inviting them to a

businessinaction.com / 23

MARKETING

5 Ways to Get Media Coverage for Your Business As a business owner, you want as many people as possible to know who you are and what you do. Here you’ll learn strategies to put your business in the spotlight.

BY LAUREN KIM

24 / BUSINESS IN ACTION

businessinaction.com / 25

F YOU CAN GET YOUR BUSINESS FEATURED IN NEWSPAPERS, ONLINE, ON RADIO, AND ON TV, it can create added awareness and credibility for your brand. Gaining good press coverage isn’t always easy, but with these tactics, you can stand out from the crowd and create buzz about your company in the news.

Cover the basics

a former TV reporter, I can

A good first step is

tell you that you must be

researching publications

fast. TV journalists come in

and news outlets that

for work at 9:00 a.m. and

cover your industry and

must turn in a story by the

your local community.

5:00 p.m. newscast. They

Build a list or database

work on tight deadlines.”

of journalists who cover these areas, include their

Create a strong

email addresses and

online presence

other contact information,

The Pew Research Center

and learn how to write a

says that over 90 percent

proper press release that

of journalists use social

includes a headline, short

media in their work, so

introduction, quotes, and

you are more likely to be

tidbits that could be used

noticed by them if you are

in media coverage. Be sure

active online. Post helpful

to include the who, what,

content related to your

where, when, and why of

industry regularly on your

your story idea in your

social media profiles, and

press releases and your

your area is impeding foot

developed. You can sign

if you have a blog on your

title, credentials, company,

traffic to businesses like

up to receive email alerts

website, update it with new

and contact information.

yours, get in touch with

from resources like HARO

information. Follow local

a contact at your local

and SourceBottle, which

media outlets, bloggers,

Be a resource

news outlet and share

reporters use to find

and influencers on social

Stay abreast of what’s

your insights and other

sources and quotes for

media, and engage with

going on in your

relevant information. If

their stories. “The quicker

them online. “Connecting

community and industry,

industry trends or the

you respond, the better

with journalists on social

and keep in mind how you

economy is impacting

your chances of getting

media is huge,” Nicholson

could contribute to news

your industry, pitch the

coverage,” suggests

says. “After getting tons

coverage. For instance,

situation to a business-

Christina Nicholson of the

of terrible pitches, they

if road construction in

magazine contact you’ve

Media Maven PR firm. “As

are more likely to pay

26 / BUSINESS IN ACTION

attention to a social media

industry and community

notification than another

events can get you noticed

email in their inbox.”

by reporters who regularly attend these functions. For

Partner with a charity

instance, you could partner

One way to garner positive

with other businesses in

attention for your business

your community to host

is by doing charitable work

a mini fair with booths

or hosting a charity event.

for local businesses

For instance, you could

and vendors. Be sure to

support a cause that has

promote any event you are

personal meaning for you,

attending or hosting on

such as raising money to

social media—you might be

fight a disease like cancer

able to start a conversation

or Alzheimer’s disease,

with a journalist before the

or choose a charity that

date arrives. Even if you

is related to your line of

fail to get media coverage,

work, such as volunteering

you could have the chance

influencers, where you

products, serving food and

at a local Habitat for

to chat with a reporter

could share industry-

beverages, and providing

Humanity project if you

and your company might

related information and

pamphlets that promote

are an interior designer or

appear in future news

introduce your products

your business. High-paid

real estate agent. “Having

segments or photos. Get

and services. For instance,

celebrities love swag bags,

an event that gives back

business cards from the

if you are a real estate

so it’s no surprise that your

always increases the

journalists you meet, and

agent or sell home

guests will enjoy receiving

newsworthiness of a

follow up with them later

products, try holding a

freebies too. You may be

story, especially if you’re

via email or social media

seminar with tips on how

rewarded for your work

reaching out to the local

for future opportunities.

to improve home security.

with coverage of your

Make it a red-carpet event

event and reviews of your

by providing gift bags of

products and services. n

media,” Nicholson says.

“It’s also a great way to get

Throw a media junket

in the calendars of local

Finally, instead of waiting

publications and online,

for media attention,

and it’s easy to promote in

attract it yourself by

local Facebook groups.”

hosting a fun and informative media junket

Take part in events

for reporters, bloggers,

Hosting or participating in

Instagrammers, and other

Take Action

Create a database of journalists you can reach out to for media coverage of your business.

businessinaction.com / 27

ENTREPRENEUR

Unlock Your Prey Drive As a former championship basketball coach and now motivational speaker, MICHEAL BURT has helped thousands of professionals discover a hidden power he calls the “prey drive.”

BY ALEXA BRICKER

LL ANIMALS HAVE

success. Here you’ll learn how Coach

instinctual behaviors that help

Burt defines what he calls the “prey

them live and thrive in their

drive,” how he helps people unleash

environments. Lions and other big cats

it from within, and how they use it to

have a fantastic ability to camouflage

advance their businesses.

themselves and stalk their prey, allowing them to go undetected until just the right moment. Raptors like eagles and hawks

The origins of prey drive

have incredible eyesight and speed to

Burt began his coaching career as a

home in on their fast-moving targets, and

women’s basketball coach, winning his

wolves utilize a pack mentality to improve

first championship game that same year.

their odds of tracking and hunting their

“I became a deep disciple of Stephen

next meal.

Covey and his book, The 7 Habits of Highly Effective People,” Burt says. “I used his

Humans, like other animals, have

methodology to develop my own coaching

instinctual behaviors, too—we just don’t

style that targeted my players’ hearts and

often put them to good use. Coach

spirits, not just their bodies and minds.”

Micheal Burt has spent decades in both the sports and business worlds helping

Over the next few years, a lot of people

people discover innate abilities that can

began to take notice of Burt’s ability to

help them stimulate action and drive

foster success for his team, and they

28 / BUSINESS IN ACTION

PHOTOS COURTESY OF MICHEAL BURT

Michael Burt

businessinaction.com / 29

wanted to know how he did it. He

drive, and it might take some trial

eventually retired from athletics

and error to discover which of these

at just thirty-one and started his

works best for you.

Monster Producer coaching program to help sales-based businesses and

Competition

professionals grow exponentially.

The most obvious activator of prey drive, competition is the fuel that

The key to all this growth? The

lights a fire in most predators.

prey drive, which Burt defines as

The fight for survival is a very

“an instinct to see something with

powerful instinct and one of the

the eyes or in the mind and have

most common ways individuals,

the persistence and intensity to

especially entrepreneurs and

pursue it.” In the case of business,

business leaders, can activate their

he explains that the prey in prey

drive to pursue success.

drive can be a goal you envision for yourself, something you need

Fear of loss

to prove, or internal or external

Like competition, losing out on an

competition. But no matter what your

opportunity, be it financial or status

prey is, this instinct isn’t necessarily

related, is another crucial motivator

something that you can turn on once

that can activate one’s prey drive. “I

and let run—it must first be activated

enjoy the way of life I have, I’ve worked

in one of five key ways.

hard for twenty-eight years to build it, and I want to do everything I can to

The five activators

keep it,” Burt says. “So, what do I do to protect that? I wake up and sell, follow

Prey drive may be instinctive, but

up, create, and manifest because

for most people it lies dormant

I don’t want to lose it.” This fear of

waiting to be unlocked. Without the

losing your way of life or a sense of

activation process, you won’t have

comfort you’ve grown accustomed to

the energy necessary to sustain

can be an incredibly influential force

success, regardless of how you run

in kicking your prey drive into full gear.

your business.

Most people lack the ability to be persistent and see their goal through to its logical conclusion without the help of another person.”

- MICHEAL BURT on valuable opportunities. No matter what industry you’re in, you need

Exposure

to position yourself in front of other

There are a few different factors that

If people can’t see you, they don’t

highly motivated individuals, such as

can help with tapping into your prey

know you exist and you’ll miss out

people in positions of power. Make

30 / BUSINESS IN ACTION

sure you are consistently putting yourself out there, be it through attending networking events, marketing yourself and your business, or educating yourself on the opportunities available to you.

Environment It’s no secret that your environment and the people you surround yourself with can have a huge impact on your morale and motivation.

As an organizational leader or entrepreneur, it’s critical to foster an environment that is highly energized and emphasizes progress and growth, not stagnation.

Embarrassment The final activator of prey drive is the feeling of how others might perceive you if you don’t succeed, but, as Burt notes, it’s not always that simple. “I use embarrassment a little differently than other people do,” he says. “I want you to look at where you are in comparison to what you’re capable of. You might find that you’re playing so small.”

No one wants to be perceived

businessinaction.com / 31

as mediocre by their competition or the people who mean the most to them. So this type of embarrassment often comes from within and the feeling that you’re not living up to your full potential.

The value of follow-up

Take Action

Find what prey drive activator resonates with you. Challenge yourself to tap into that motivation every day to help you achieve the goals you’ve set for your business.

Prey drive is not a “set it and forget it” mentality; once it’s activated, it must be activated again and again to stay turned

The problem comes from a lack of follow-

on. “High performers know how to activate

through once that initial excitement

their own prey drive,” Burt says. “When I

wears off and the subsequent feelings

wake up in the morning and my prey drive

of guilt about not following through. It’s

isn’t activated, there are certain things

a vicious cycle that Burt often sees

I do to flip the switch. It could be what I

while coaching.

watch, who I listen to, or how I exercise.”

For those who aren’t as well versed in

Whether in sports or business, the

the activation process, Burt’s coaching

motivation a coach can provide is a key to

methods are aimed at helping individuals

winning. “Most people lack the ability to

find what motivates them and tap into that

be persistent and see their goal through

motivation consistently every single day.

to its logical conclusion without the help of another person,” he says. Burt’s

To keep your prey drive active, you must

programs—Monster Growth Online

exemplify persistence and intensity—

Academy, Monster Producer, Coaching

the other two critical components of

Accelerator, and Executive Coaching—

Burt’s method. In his book Million Dollar

are designed to create structure, foster

Follow Up, Burt discusses the fact that

accountability, and drive performance, all

humans are easily excitable by nature.

through the activation of prey drive. n

For more information, visit coachburt.com.

32 / BUSINESS IN ACTION

businessinaction.com / 33

ENTREPRENEUR

34 / BUSINESS IN ACTION

Wealth-Building Basics NATE AUFFORT, a professional sales trainer, shares his expertise on how to build wealth and unlock your potential for success.

BY BONNIE JOFFE

businessinaction.com / 35

ATE AUFFORT, founder and CEO of Strategic Wealth Accumulation Tactics (SWAT) Financial, started his sales and marketing career in his early twenties. Having grown up in a large family with not a lot of money, he knew at a young age that he wanted more and to make it on his own. After dropping out of college twice, Auffort attended a seminar about network marketing where he met his mentor who influenced his decision to begin working as a network marketer. However, after four years, he was struggling to make more than $3,000 a month and knew he needed to get on a better path.

He set a goal to close $25,000 in sales in one month but ended HEAD SHOT COURTESY OF NATE AUFFORT

36 / BUSINESS IN ACTION

Nothing is standing in the way of your success. Whether you are a seasoned business owner or just starting out, begin by setting realistic goals, hold yourself accountable to achieve them, and before you go to bed each night, visualize your success–and, as Auffort preaches, always practice an attitude of gratitude. up surpassing it by several

you still have a purpose; it’s

thousand dollars. By the end

about what you need to know,

of the year, he was generating

what your burning desire is,

$20,000 a month in income,

what motivates you, and what

and a year and a half later, he

you need to do to get it done. I

became a millionaire.

learned that destiny is a matter of choice, and no one ever got

Here Auffort reflects on the

wealthy doing it by themselves.

tactics and mindset that have made him successful in business throughout the years

What’s the hardest thing to

and offers solutions for business

teach yourself to be successful

owners on their own journeys to

in business?

build wealth.

Discipline. Many people fail in business because they’re not What is the first lesson

good at self-managing. To be

you learned as a business

successful, you must set goals

entrepreneur?

for yourself and work as if you’re reporting to your manager. It

Most of us have everything

takes discipline to hold yourself

we need for success, we just

accountable—doing the most

don’t have a why. But it’s not

productive activity at every

really about your why because

moment of each day and only

businessinaction.com / 37

rewarding yourself if your goals

but also being 100 percent present

accomplished on a daily, weekly,

have been met. And don’t confuse

wherever you are and whomever you

monthly, and yearly basis. Establish

activity with productivity; activity is

are with.

where you want to go, and then

a nonproductive time suck, whereas

figure out how to get there. By

productivity makes you money. If

holding yourself accountable every

you haven’t met your commitments,

What’s the best approach for

day, your confidence will grow as you

you don’t get to receive a paycheck,

someone who has never set goals

continue to meet your goals. It’s your

take the holiday off, or go away on

for themselves?

choice: you can create or destroy

vacation. Also, being disciplined is

your goals daily.

not just juggling your time between

Just start. Set goals for yourself

your business and personal life

that you believe can be reasonably In an episode of the Stay Paid podcast, you said people have a movie script playing in their head preventing them from achieving their goals. What’s the most common theme? What suggestions can you give on rewriting a script for success?

Fear, worry, and doubt are always the common denominators, but they are usually unwarranted. You cannot rewrite the script if you are continually surrounded by others who make you feel bad about yourself. I believe your subconscious mind is the driver of your car, so before you go to bed at night, protect your brain by exposing it to positive rather than negative thoughts and visualize the things you want to accomplish. I liken the brain to a computer—what you put in it is what it will put out.

38 / BUSINESS IN ACTION

Most of us have everything we need for success, we just don’t have a why. But it’s not really about your why because you still have a purpose; it’s about what you need to know, what your burning desire is, what motivates you, and what you need to do to get it done. - NATE AUFFORT

the best to learn the most. Look at this opportunity as a business investment and your ticket to payto-play. Place yourself in the front of the room where the successful businesspeople and influencers are.

Also, approach these events with the attitude of “How can I bring value to the people I meet?” “How can I get

To help alleviate your fears, doubts,

fail in their quest for success—

more customers?” and “What do I

and worries and gain a broader

they quit when things get tough

want to get out of this?” It doesn’t

perspective of them, ask yourself

and experience temporary defeat.

matter what type of industry you are

these questions:

However, if you look at the most

in because these principles and skills

successful entrepreneurs, their

remain the same.

1. What’s the worst thing that can

biggest win or miracle, as I call

happen? Will I be able to live

it, was created during their most

through it? Will it matter ten years

challenging period, just before a

Distraction can prevent someone

from now?

downfall. My philosophy is that you

from achieving their goals. What

need to have an attitude of gratitude

suggestions do you have to help

as you are going through trying

people who are easily distracted?

2. Will it affect anyone outside of my immediate circle?

3. Is there someone I know who has

times. Rather than just passively moving through them, turn these

First of all, you never get rid of

obstacles into opportunities.

distraction. It’s around you every day,

gone or is going through the same

all day. You just need to push through

thing or something worse than me?

and ignore it. Being disciplined, as we You believe in the importance of

talked about earlier, can help you stay

“getting yourself into the room.”

laser focused and shut out the white

What do you think is the biggest

Would you explain what you mean

noise. If you need to reset, take time

mistake people make in business

by that?

to recalibrate and come back with

that leads to their downfall?

your daily goals in mind. n Sure. It’s plain and simple. If you’re

“People quit three feet from gold.”

going to take the time, energy,

This quote, from Napoleon Hill,

and expense to attend large-scale

author of Think and Grow Rich,

training events or seminars, make

references the reasons why people

sure you surround yourself with

For more information, visit www.swatfinancial.us

businessinaction.com / 39

LEADERSHIP

Lead Meetings with Meaning

Are you tired of demotivating, lengthy, and purposeless meetings?

So are your employees. Use these tips to make sure every meeting you lead is worth everyone’s time—including your own.

BY LUKE ACREE

40 / BUSINESS IN ACTION

businessinaction.com / 41

T’S A SCENARIO THAT has happened to just about everyone: you sit in a meeting for thirty minutes to an hour, only to walk out of the room or hang up the call with zero valuable takeaways or an action plan for what to do next. While the amount of time Americans spend in meetings has been steadily increasing, productivity has not. In fact, according to a

A meeting that begins five minutes after the set start time or lasts ten minutes longer than intended is guaranteed to put people off, increase distraction, and reduce productivity.

report from the project management company TeamStage, the majority of employees surveyed said that their meetings are a waste of time. on your meeting invite, you need to Meetings can be an enormously

ask yourself one simple question:

valuable way to connect with your

could my goal be accomplished

people, solve problems, and set new

without a meeting? If the answer is

goals—but they can also be a huge

yes, develop an agenda with action

time suck and drain on resources

points and delivery dates, and send

if you’re not careful. As a leader, it’s

your team the details of the plan via

up to you to ensure every meeting is

email. It could be helpful to include

a productive one and that you hold

a note at the bottom of your email

participants accountable for their

explaining how team members should

level of engagement.

follow up with you or another point person regarding their questions.

track toward the end goal. Here are some best practices for creating an

The tips that follow can help you identify and reduce common pain

If you deem that the meeting is

points in your meetings to make

necessary, you’ll want to follow a

your teams and your business more

similar plan and establish an agenda

efficient and successful.

before sending any invites. The

meeting. Include all necessary

purpose of an agenda is twofold:

notes and information participants

to set the stage so participants can

will need to prepare and spark

prepare and to keep everyone on

valuable discussion.

Email vs. meeting First things first. Before you hit send

42 / BUSINESS IN ACTION

effective agenda for your meeting: • Set clear expectations for the

start time or lasts ten minutes longer than intended is guaranteed to put people off, increase distraction, and reduce productivity. Set a clear start time and end time, and stick to it as much as possible. As the host, you should plan to arrive at or sign on to the meeting a minute or even a few minutes in advance.

There’s also no reason why a wellplanned meeting would need to last longer than an hour, and, according to the American Psychological

Association (APA), the engagement of • If the meeting requires multiple

up a valuable point to add to the

participants will start to dramatically

facilitators, make sure everyone

agenda that is within the scope of

decrease the longer the meeting goes

is aware of their role and the

the project or goal, be sure to add it

on. Every minute of your meeting

expectations you have of

before the meeting.

should be put to good use. Creating

them beforehand.

the aforementioned agenda can help Minutes matter

with this but only if you stick to it. As

It’s important to be respectful of

the meeting leader, you should foster

additional discussions (within

your people’s time. A meeting that

an inclusive environment by allowing

reason). If a participant brings

begins five minutes after the set

participants to ask questions and

• Be flexible, leaving room for

businessinaction.com / 43

encouraging those who don’t often speak up to do so. However, if the conversation moves away from the points outlined in your agenda, you’ll need to rein it in. The longer you allow the conversation to go off topic, the harder it will be to bring it back to the main talking points.

In short, the faster you can get through the agenda of the meeting, the better. Decision-making skills will start to wane and attention spans will

participant can contribute to that

up with you on their progress, and

suffer as time goes on, so keep idle

goal in a way that is actionable and

when they need to have it completed.

chitchat to the first five minutes of

measurable. Your marketing lead, for

Be sure to encourage participants

the meeting, hit your talking points,

instance, should leave with a game

to revisit their action items shortly

develop necessary action items, and

plan for how many new leads they

after the meeting is over, perhaps

then let everyone move on about

will need to acquire over the next few

even blocking out time immediately

their business.

months to deliver to the sales team.

afterward to come up with their own

A creative lead could have an action

game plan. Doing so allows everyone

Actionable takeaways

item to develop a set amount of new

to think critically about the next steps

Speaking of action, if you don’t

lead magnets to bring in those leads,

while the meeting’s discussion is still

give every person at your meeting

while a sales lead would need to know

fresh in their minds.

an action item, you’re wasting

how many calls their team needs

everyone’s time. Everyone at your

to make to bring in the necessary

meeting should come away with

number of sales per day to reach the

We’ve reviewed how to improve group

something to do, and it’s even better

quarterly goal.

meetings; however, one-on-one meetings deserve arguably more

if you can give people an idea of their action item or items ahead of time.

Tips for one-on-one meetings

Not every meeting will have a

attention because they tend to be

groundbreaking objective, and

less organized and goal driven than

Break down your meeting goals into

that’s OK. Regardless of the size and

group discussions. It’s extremely

smaller pieces that can be delegated.

scope of your goal, everyone at your

important to meet with employees

For example, if you’re meeting to

meeting should walk away with a

individually so that you can check in

discuss a sales target for the next

clear understanding of exactly what

with them on both a personal level

quarter, ask yourself how each

they need to do next, how to follow

and professional level, ask about

44 / BUSINESS IN ACTION

• Ask your employee to come

Take Action

Review the upcoming meetings on your calendar. Create agendas for each, and remove any meetings you no longer deem necessary.

every week for three months and

prepared with any points they need

have very little progress to show for

to discuss. One-on-ones should

it, cancel it or switch up the format

never be one-sided. This is as

to occur less frequently or with

much a chance for your employee

different team members. You and

to open up to you as it is for you to

they will both be better off.

ask them questions.

Running meetings is an essential • One-on-ones need action items

component of being a leader. But,

too. Spend a few minutes at the

like all other aspects of your role,

end of the meeting to recap and set

it might take some time to get it

their family and interests, inquire

clear expectations for the next time

right. Implement these tips for your

about their goals, offer praise, and

you meet.

business as soon as possible to drive

highlight areas for improvement.

results, and make sure other leaders

These meetings can also serve as

Open-ended feedback

a great opportunity for you to take

As a leader, it can be difficult to

valuable notes about what motivates

reflect on your own areas of

your employee, be it a financial goal,

weakness and opportunities for

their family, or peer recognition.

growth. So much of your focus is

in your organization follow suit with their own meetings. n

put toward helping your employees • Keep the first five to ten minutes of your one-on-one meetings

improve—but it is essential that you make time for self-reflection.

lighthearted and personal. Ask how your employee is doing both

Ask your team members for

outside of work and at work

feedback from recent meetings

and how they feel about their

to see where you may have fallen

core responsibilities.

short, what’s working, and what

About the author: Luke Acree is

isn’t. This information can be

an authority on leadership, a lead-

invaluable to help you improve

generation specialist, and a referral

during every one-on-one

meetings in the future and ensure

expert who has helped more than

meeting you have. Be sure to

that everyone is working as focused

100,000 entrepreneurs and small

include any life updates your

and efficiently as possible. Also,

businesses grow their companies. He

employee mentioned, such as

don’t be afraid to make changes

hosts Stay Paid, a sales and marketing

an engagement, an upcoming

that rock the boat a little. If you’ve

podcast, and has been featured in

birthday, or vacation plans.

been holding the same meeting

Entrepreneur, Forbes, and Foundr.com.

• Take well-organized notes

businessinaction.com / 45

PRODUCTIVITY

Create a Winning Work-Life Balance Want to be a hero to your team? A surefire way is to add balance to their workweeks. BY MATTHEW BRADY

job and company—and then acting on it. By offering tools to foster a good work-life balance, such as the

T SEEMS HARD TO

A balance of power

believe, but less than a

ones that follow, you can not only increase employee satisfaction and

For ages, supply and demand—

retention but also create raving fans

American workweek was fifty hours.

namely, more job seekers than jobs

within your business.

A mere thirty years before that, if you

available—tended to give the upper

were a worker in the manufacturing

hand to employers, who could (and

or building industry, you could

did) generally dictate all the terms

expect to work one hundred hours a

of employment, including requiring

Simply put, COVID-19 created a

week on average.

hires to regularly work long hours to

paradigm shift when it came to

keep their jobs or move up in their

work. Longtime cornerstones of

During the second half of the

respective companies. However,

the corporate world, from a rigid

nineteenth century, the idea of

as the recent Great Resignation

nine-to-five schedule to mandatory

working eight-hour days and forty-

has demonstrated through its

in-office work, quickly gave way as

hour weeks was gaining steam, and

impact on employee retention,

companies were forced to reassess

it was famously championed and

that dynamic has shifted. Today’s

the most efficient ways to be

then adopted by Henry Ford in the

American worker has more of a say

productive in a changing world.

1920s. In 1940, Congress made the

in their need for a balanced life, and

Millions of people embraced the

forty-hour workweek official.

they are vocal about it. Most people

work-from-home experience, and

century ago, the average

The why

work to live, after all, not live to

white-collar business owners, many

However, the term should perhaps

work—in fact, a 2022 Gallup survey

kicking and screaming, were forced

come with air quotes today. The

found that 61 percent of workers

to admit that, yes, it could work from

very real reality is that, thanks to

consider work-life balance, and the

a business perspective and even

the internet, social media, and

well-being associated with it, to be

help their businesses thrive.

email, many workers feel like they

very important.

must be available 24/7—something

The cost analyses bear this out.

that companies may implicitly or

So when it comes to attracting and

Harvard Business School estimated

explicitly encourage. The end result

keeping top talent, a key strategy is

that work-related stress and burnout

can be devastating to both workers

acknowledging that an employee’s

result in upward of $190 billion

and businesses.

home life is often just as or even

in annual healthcare costs—and

more important to them than their

that was in 2017, three years before

46 / BUSINESS IN ACTION

COVID-19 struck. Stressed-out,

home. Plus, as an organization, it’s

for sickness and time off, combine

overworked employees are also

possible to save big on overhead costs.

each into a paid time off bucket

consistently found to be less

Keep in mind this caveat, though:

so employees can use their days

productive, less interested in their

some employees will prefer the face-

as needed. Unlimited PTO can

jobs, sicker, and more likely to leave—

to-face interaction of the office, so if

strengthen the employer-employee

but research shows that these ills can

you can offer a choice, it may work out

bond to its max because you show

be reversed by instituting a work-

best overall for your company.

how much you trust that they’ll get

from-home environment.

The how

the job done. In fact, research shows Here are some other options you may

that unlimited PTO can result in

want to consider offering to improve

employees taking fewer days off.

your workers’ work-life balance: Workday cutoffs

There are various work-life options you can implement to make your

Volunteer opportunities

Nothing quite says you care about an

employees happy. Here are just

Between their work life and home

employee’s home life like ensuring

a few to consider; you can always

life, people sometimes can’t find

they are available for dinner, so you

brainstorm more, knowing what would

time to pursue their favorite

could encourage nonmanagers to

realistically work best for your specific

altruistic endeavors. Show that you

clock out by 5:00 or 5:30. For in-

team members and organization.

understand how important this is by

office employees, you could also set

allowing an extra day off every six to

this cutoff at 4:30 so they can beat

Work-from-home options

twelve months that’s dedicated to

the traffic home.

Allowing employees to work from home

helping others.

Flex time

has some distinct advantages. Your team members can save money and

Unlimited PTO

This may be the ultimate tool

stress without the daily commute, and

Instead of boxing in the number

in your employee-satisfaction

they get to spend much more time at

of days team members have off

toolbelt. Eliminating the rigidity

businessinaction.com / 47

If you're like us, we spent the last few weeks of 2022, and now the first few months of 2023 setting ourselves up for success. Finding success in the current climate involves so much more than navigating numbers and analyzing the competition, it requires us to work smarter, not harder.

Take Action

It is with this in mind, that we're excited to be launching three digital platforms this year which we believe will be game changers for leaders and organizations overseeing highly dispersed operations: - Elevate© - a "business in your pocket" self-auditing app for better operational performance.

- DATAxi - data ingestion and visualization to measure your most important financial metrics.

- Criterion Benchmarking - membership based survey and insights platform.

If you want your business to work smarter, not harder, then we'd love to talk and explain how these powerful business tools can drive impact to you and your business.

Implement at least one organizational change that will improve your employees’ worklife balance.

like Calm, which helps with sleep and meditation. You can also provide virtual 24/7 access to physicians or counselors through your insurance.

Office options It’s not realistic for some industries

4xi Global Consulting & Solutions

to have their employees work from

home, so do what you can to foster Email: hello@4xiconsulting.com a family atmosphere at work. If www.4xiconsulting.com possible, encourage employees to bring their pets in as office

This is issue 5 of our Business in Action magazine and is full of interesting articles around workplace experience, of aeffective nine-to-five schedule ormeetings, other Health options holding and productive and striking standard shift times can make a There are many ways you can show that illusive work-life balance.

companions, or allow them to

employees who can to benefit about their physical and mental wellAs always, it's a pleasure send from you this magazine to our making their own daily schedule being and how friends, clients, and colleagues of 4xi. Enjoy the read, and much it matters to on their home their productivity. For example, you here'sbased to a successful 2023.needs,

daycare costs.

world of difference to hardworking

whether that’s being able to go to

your employees how much you care

can offer to improve their out-of-

Simon Elliot, Barbara Boden an important afternoon doctor’s office experience by helping them appointment, pick up their get standing desks for their home Managing Partners andkids Co-Founders

occasionally bring their children to work. You could even consider creating a daycare space at work or helping offset employees’

Prioritizing work-life balance is the new normal for modern businesses, and taking creative steps to encourage it for your team can give

from daycare, or not even having to

office, gym memberships, or even

you a competitive advantage in

use daycare.

free or discounted access to an app

your industry. n

48 / BUSINESS IN ACTION

4xi Global Consulting & Solutions 11 Lucy Ln Westhampton Beach, NY 11978