Offering a Sincere Apology

Everyone makes mistakes; Entrepreneurs are no exception.

What separates leaders is that when mistakes are made, genuine leaders offer a sincere apology. What does that mean?

How often have you heard someone say sorry and then add a “but?” In those cases there are all kinds of excuses after the “but.” All these apologies are watered down by offering excuses.

A sincere apology is just that – sincere! When you make a mistake, no matter affecting which stakeholder, just say a sincere sorry without any excuses or reasons. This will be more genuine than trying to explain what happened to cause that mistake.

To be even more effective, you should privately analyze the reasons for the mistake and establish corrective actions to prevent that in the future. This will appear more sincere to the offended party.

Do the Right Things!

Ravi Patel

http://www.patelCFOservices.com

 

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Published in: on March 26, 2013 at 5:03 am  Leave a Comment  
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Keeping Informed Effectively

As the company grows in size, Entrepreneurs should let their key managers run their departments within broad operating parameters. However,  it does not mean that the CEOs should be unaware of what is going on.

CEOs should have regular status meetings with key subordinates to review important issues in the functional areas of their responsibility. Rather than having the managers present the operational details on what is going on, the meeting should focus on accomplishments, issues, resources required, anticipated problems and solutions.

In order to make the one-on-one meeting effective, Entrepreneurs might want to set up a periodic written reporting system with their key managers so they can stay informed on the operations of their businesses before the individual meetings. Such reporting systems might include a summary of key accomplishments, planned upcoming activities and issues that might require assistance from the CEO. These reports could then be the basis of discussion in the one-on-one meetings.

A system of regularly scheduled meetings with key direct subordinates combined with a periodic reporting system allows Entrepreneurs to keep informed without micro managing their key managers on a daily basis.

Ravi Patel

www.patelCFOservices.com

Attitude Improvement for Performance Enhancement

Does your employee’s attitude have anything to do with performance? Of course!

Employees with positive attitudes about themselves, towards the company and their fellow employees have the capacity to perform at a higher level.

So what do Entrepreneurs need to do to improve the attitudes of their employees?

It is important to have an understanding on how your employees feel about the company and their fellow employees. Using your HR department to conduct formal and informal surveys could help this effort. If affordable, it might be a good idea to have an objective, outside party conduct such surveys.

Supervisors should be sensitive to the problems faced by employees outside their work and how they might be affecting their performance. If the performance of an employees does not meet expectations, determine whether it is related to the abilities or skills of the employee or whether it is related to his/her attitude.

Entrepreneurs based on collected data should develop programs that improve employee attitudes thereby enhancing performance. It is by no means a one-time effort, but should be reassessed and revised  periodically.

Ravi Patel

www.patelCFOservices.com

First Impressions Matter

One can assess the quality of a company by the manners of the people working there.

When potential customers, employment applicants, vendors, bankers or other interested parties call or interact with your company, their first impressions matter. How your employees treat them then could be critical for a future relationship.

Companies whose employees treat outsiders ( and even fellow employees) with good manners, politeness, caring and concern reflect the values of the organization. Enlightened Entrepreneurs should recognize this and pay as much emphasis on the relationship side of the business as much as the product aspect of the company.

Focusing on managing initial (and then ongoing) interactions with outsiders could be a determinant of future success. Entrepreneurs should Do the Right Things by paying attention to this area of their business.

Ravi Patel

www.patelCFOservices.com