Thinking Outside the Box

Entrepreneurs start businesses because they have new, innovative ideas as a result of “thinking outside the box.” They identify underserved niches in the marketplace and find unique ways to fulfill unmet or unrecognized needs.

Do Entrepreneurs, once they start and grow the business, foster the culture of “Thinking Outside the Box” in their employees?

The reason for the Entrepreneur’s original initiative due to creative thinking is also applicable to his/her organization. If the culture of the company is one of innovation and finding unique ways of doing things better and faster, it will promote not only continued success for the company but also tremendous job satisfaction for the employees.

Entrepreneurs should be careful not to create a control-oriented impression that “Thinking Outside the Box” is only meant for them. It gives a feeling of “Do what I say, not what I do.”

Empower your employees and let them come up with creative ways to perform their jobs better and improve processes in the company. Entrepreneurs for this employee performance management philosophy should also think outside the box !

Ravi Patel

 

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Dealing with Performance Issues

Are you a procrastinator when it comes to dealing with performance issues?

Entrepreneurs, like many other managers, do not like to confront employees regarding poor performance. Entrepreneurs, especially, take a softer view with certain employees that started when the company was established. How can they after all be tough on people who supported them when the times were bad?

Not dealing with performance issues in a timely manner not only hurts the company, but is a disservice to the employee. If the employee is a potential long-term player, it is better to get them on track sooner by making him/her aware of the deficiencies and help the employee develop and work on a plan to correct the shortfalls.

If performance issues are not addressed promptly, it creates in the entrepreneurial company a sense that the Entrepreneur is partial towards certain non-performers. Obviously, a poor performer is readily visible in a small company and not dealing with such issues creates a situation with poor team morale.

Entrepreneurs need to create a culture where performance issues are dealt with promptly, either by implementing a corrective plan to improve performance or managing the consistently poor performer out of the company.

Ravi Patel

 

Disengage to Move Forward

When a car is stuck in a rut, it is sometimes better to put in reverse and then engage the gears to move forward.

Entrepreneurs might want to apply a modified version of that philosophy to their businesses. It is useful for Entrepreneurs to disengage for a short period from their company, not only from day-to-day operations but also thinking about it. Focus on something else – vacation, relaxation, music, art, hiking, or whatever takes your mind off business for a while.

You will be amazed at your re-engagement level energy and concentration when you come back. Not only will you be sharper in your thinking and decision-making process, but will inspire others with ideas.

Disengage from your business for a while, to effectively re-engage and move forward!

Ravi Patel

www.patelCFOservices.com