Today is the next-to-last segment of the series, Preparing for War: You vs. Recession. Over the past week and a half, we have worked through the various things that entrepreneurs and small business owners can and should do to combat economic uncertainty and ultimately, the war against recession. There is no doubt, recession is on its way, if not already here lurking around every corner and already affecting us all.

But before we go on, allow me to reiterate, I’m not diminishing the importance of financial professionals by leaving them out of this series. It’s understood that managing and monitoring financials are extremely important functions, but there are many exceptional CPAs and the like out there to handle this function. It’s a given. Many have done a phenomenal job of doing so since the first lockdown. Again, kudos to these fantastic professionals. Survival to this point would not have been possible without you!

To recap the series, we addressed personal branding as a way to stand out in the community, understanding that people are attracted by a business or brand, but they want to do business with people. Being known (or perceived) as the subject-matter expert, the go-to person in the community certainly provides a leg up on competition while also building and reinforcing confidence in the minds of customers and employees alike. With personal branding established as a cornerstone of our strategy, we turned our focus to customer experience, employee experience and culture.

That said, the lion’s share of this series focused on the front line. It’s where the magic happens in a business. We also know it’s where catastrophes happen, as well. There’s a provider and a receiver in every transaction. Truly, it becomes a relationship beyond just handing over money or delivering food to a table. A positive experience is created by all the expected things in a transaction (quality food, product & service, professional environment, cleanliness, etc.) AND a sort of bond between provider and receiver, a relationship in the moment.

As well, the provider, the employee delivering a positive experience cannot be expected to do so if they aren’t experiencing their own positive experience within the business. We’ve identified the customer experience AND the employee experience as two additional cornerstones in our strategy. We took things a step further and introduced various tools and resources that would help monitor and evaluate both experiences including the Net Promoter System.

If you take only one thing away from this series, I highly recommend implementing the Net Promoter System in your business as soon as possible. Of course, I do recommend incorporating all parts of the strategy for optimum results. The Net Promoter System truly is a remarkable tool and one that highlights success and failure. It is spot-on!

The last cornerstone, culture was addressed and of course, is intertwined with the experience factor, both for customers and employees. In addition, culture extends to all stakeholders within the organization and that do business with the company or brand. I wholeheartedly agree with the quote from management guru, Peter Drucker, “Culture eats strategy for breakfast.” It does, for sure, but that certainly does not eliminate the need for strategy!

There you have it, the cornerstones of our strategy – personal branding, customer experience, employee experience, and culture. They make up a very strong foundation if all are developed and put into place diligently and correctly with no shortcuts. Like a foundation that has a weak cornerstone, the foundation becomes compromised and all above it will begin to show signs of damage. The extent of damage depends upon the weakness of the cornerstone, or as two or more cornerstones fail simultaneously.

So, what’s left? What’s missing?

Well, there is a very most important thing missing, a person, and that person is YOU! Yes, you, the business owner, the entrepreneur, the CEO, the brand leaders, or whomever is charged with and responsible for the success of the organization, company or brand. Although success is the result of many working together toward common goal, there must be a formidable leader at the helm. No war has been won without one leading the charge.

And we know that a leader must be at the top of his or her game in order to be successful, and even more so during challenging times. That means that tomorrow, we will turn our attention to mental health, the focus of such that is often lacking in the busyness of the day. Often, mental health as it relates to business and its leaders is only mentioned after the fact. Although we now know it must be front and center. Unfortunately, mental health is still on the backburner for many. That must change!

Have a great day. Make it happen. Make it count.

Remember…

Just like an experience at your local café, I’ve planned for Acceler8Success Cafe to be conveniently located when and where you desire or need to relax, enjoy a cup of coffee, and catch up on some time for you. My goal is for Acceler8Success Cafe to be your virtual café, a place where you may frequently visit to enjoy a few minutes of leisure time to read, think and reflect about ways to improve and succeed in today’s crazy business world.

I strive for your experience to be memorable by providing learning opportunities, by presenting different perspective & insight, by spurring thought & reflection, by encouraging interaction, and by spotlighting topics that, quite frankly, may not be as front and center as they should or need to be.

Acceler8Success Cafe is open for business seven days a week. For the benefit of current & aspiring entrepreneurs, this daily newsletter is delivered each morning. As a way to jumpstart the week ahead, a weekly review is delivered each Sunday morning listing and linking to the articles you might have missed during the previous week. My objective is to provide an opportunity for you to begin your day and the week ahead informed and with ideas that possibly could accelerate your success.

So, before we jump into this week’s review, how about starting today with a smile? A positive thought? Your happy place? A tug at the child in you? And what better way than doing so than with the Peanuts gang enjoying a day at the beach. After all, it is Summer!

Today’s Weekly Review

Recession Prep Question: How important is the WOW factor?

Monday saw us jump right into the ‘Preparing for War: You vs. Recession’ series as we ended the previous week in full swing beginning the important series. Instead of focusing on the financial side of business, an extremely important part of the business, but mostly well-taken care of by professionals, we focused on positive experiences as part of the action plan to survive and remain standing after the dust settles. 

We know that creating and delivering positively memorable experiences are dependent upon more than just customer-focused efforts. Certainly, the customer experience is key to business survival and growth but so are the experiences shared by staff, partners, vendors and all who “participate” in the daily activities of your business.

The definition of positively memorable experiences was broken down in order to better understand the ‘WOW’ factor. We fully understand that is necessary and paramount if we’re to expect customers to return again and again.

Recession Prep Question: Is the employee experience a factor in the customer experience?

Tuesday saw us shift from the customer experience to the employee experience. We realize that creating an environment where a positive experience is created at all times for employees is essential to business success, and especially at a time when employee loyalty is becoming harder and harder to find.

As employees are instrumental in creating and delivering the customer experience, we asked, what would happen if an employee were unhappy, dissatisfied or disgruntled? Would they be capable of delivering a positively memorable experience? Could their attitude be detrimental to the business? Of course, we know the answers to both questions but sadly, these employees are on the front line of many businesses today. Even more so is that they most likely didn’t have a bad attitude when they were first hired.

Recession Prep Question: How important is the right culture to business survival?

Hump day seemed to appear out of nowhere as the series heated up. For Wednesday’s article we focused our attention to culture within an organization knowing that in order for positive experiences to be achieved, the right culture within an organization is paramount.

Culture lives and breathes in all organizations. It must be nurtured – fed and taken care of. If sick, the virus causing the sickness must be addressed. In the case of cancer, it must be identified, isolated and removed – making sure to properly treat closely affected areas to be sure of total elimination. If healthy, it must continue to be fortified – an immune system built, and new well-being programs developed.

Recession Prep Question: Should the ‘Experience Factor’ be treated like a line item?

On Thursday we took a deep dive into the ‘Experience Journey’ to see how customer experience, employee experience, and culture all ties together. We discussed how the simple ‘Experience Journey’ graphic introduced the day before is a priceless point of reference for organizations of any size.

The ‘Experience Journey’, which I also refer to as an ‘Emotion Circle’ is a simple way to gauge and improve any type of relationship. Keep in mind, all relationships have an experience factor. All interactions have an experience factor. Every touchpoint also has an experience factor. Even digital touchpoints have an experience factor. And especially, culture within an organization has an ‘Experience Factor’.

We know that in today’s era of economic uncertainty, it’s critical that processes and procedures be in a constant state of evaluation and improvement. The experience factor should be treated like a line item much like anything else that costs and can cost the business money AND can cost the business its customers and employees. Only by treating it like a line item will it be front and center and treated accordingly no different than costs that may be spinning out of control.

Recession Prep Question: Do you have an unbeatable strategy of loving customers… and employees?

With the ‘Preparing for War: You vs. Recession’ series continuing all week, Friday was no different. On this day, we addressed how to best evaluate the experience factor and use the information to improve business AND its culture. That led us to introducing the Net ‘Promoter System’.

To me, it’s the best and most effective way to monitor and evaluate customer experience is to utilize the Net Promoter System. I’m a firm believer in this system. As you read through this day’s article, you’ll quickly realize how it can also be used to monitor and evaluate the employee experience, and ultimately the culture of an organization or brand.

Wrapping up the article, I shared a final thought, and question – Imagine your Net Promoter Score listed on your profit & loss statement right below the bottom line. Would that get stakeholders’ attention? My sentiment – You bet it would!

Each One of Us Can Make a Difference!

Saturdays are a lighter day at Acceler8Success Cafe so we shifted away from the series. I shared a remarkable story about a remarkable man, Abdul Sattar Edhi, one of the best people ever to walk the earth. He helped more people in his lifetime than almost another human being in history. But you’ve probably never heard of him. I know I had not.

Personally, I was blown away by the response to this article, especially for a Saturday as we realized a 20% increase in article views this day. I was excited to read many thoughts of thanks for sharing the article. Actually, it’s really me that must thank all of you. You truly made my day!

On the Lighter Side

Son, Father, and the Well

Once there was a man who was running a business. He faced severe losses and had to sell his properties and cars to continue running the business. Seeing the situation, the son asked his father, “Why are you still running the business when you are at a loss? Why don’t you shut the business?

Father smiled and replied, “My son, life can bring us many challenges and even can push us down. But we have to hope that we can overcome any challenges.” Son, “How can hope help us?” Father, “Ok, I will show you! Father took his son to a big well and asked him to jump.

Son, in shock, “Father, I don’t know how to swim, so I cannot jump. But his father pushed his son to the well and went into a hiding place. Son struggled and kept on trying to float for close to 5 minutes. Then when he was about to get drowned, the father jumped and pulled his son out of the well.

The next day, the father again took his son to the well and asked him to jump again. First, he hesitated, then he jumped into the well. Father again went into hiding. The boy again struggled to keep floating, and he pushed harder. Time kept on running. Even after 15 minutes, he managed himself. Then Father came and pulled his son out of the well.

Father asked his son, “Why were you pushing harder than yesterday?”. Son replied, “Yesterday, I did not know what to do when you pushed me into the well. With fear, I drowned. But today, I know that you will come and save me if I am about to get drowned”.

Moral of the story: Life can bring us many challenges. When we push ourselves with the hope of overcoming it and trusting people around us, we can overcome it.

Have a great day (and week ahead). Make it happen. Make it count!

Abdul Sattar Edhi is one of the best people ever to walk the earth. He helped more people in his lifetime than almost another human being in history. But you’ve probably never heard of him. I know I had not.

He was born in Gujarat, British India, in 1928. When he was 11, his mother was paralyzed by a stroke; and Edhi cared for her. She died when he was 19 years old; and Edhi discovered his mission: caring for the sick, elderly and destitute.

In Pakistan, there was no safety net for the poor, so he begged on the street to set up a free hospital. Since then, his foundation has rescued 20,000 abandoned children, rehabilitated 50,000 orphans, and trained 40,000 nurses.

Edhi set up the world’s largest ambulance service, along with free nursing homes, orphanages, clinics, women’s shelters and rehab centers. He has been called Pakistan’s “Father Teresa”.

He only owned two outfits, and never took a salary from the foundation. Edhi said: “When you stop living for luxuries, you understand the real meaning of life.”

He died on July 8, 2016, at the age of 88 from kidney failure and his last request was to donate his organs. Even in death, he wanted to help others.

Edhi’s story is a reminder that every single person has the power to change the world.

If everyone of us were just a little like this man, even for just a day here and there, the world would be a far greater place and life, as each of us knows it, would be far better than it is today. Every one of us, each of us can make a difference.

Maybe you’re thinking, in a world of billions of people, how can one person make a difference? Well, I’ll ask you to think about that one single mosquito in your bedroom on a warm summer night and its impact on the quality of your sleep… Yes, each of us, every one of us CAN make a difference.

The most important questions we should ask today… What will you do? What will I do?

Have a great day. Make it happen. Make it count!

There is an ‘Experience Factor’ in every relationship, in every transaction, and in every interaction. Understanding what goes into the factor is essential to gauge the effect the factor had on the relationship, transaction or goal. Only as the effect is realized is improvement possible.

The foundation of the ‘Experience Factor’ is the ‘Experience Journey’. Here’s another snapshot of the ‘Experience Journey’ that I introduced yesterday:

The relationship, transaction or interaction begins in the 12 o’clock position. Expectations have been established based upon what had been done to bring the parties together or had been done to attract them to each other. Let’s use a customer experience at an automotive shop to better understand the journey.

A person gets into his car to drive to work and hears a noise he or she has never heard before. It seems to get worse the longer the car is driven. The car needs to be looked at and the problem diagnosed. Anxious because of the busy day ahead and knowing the car is needed, not only for work but for other things that evening, and for a trip in a few days, the car is dropped off at dealership because it is conveniently located close to the customer’s office.

The dealership is clean. The service writers all look very professional. The service department is quite busy, which the customer feels is a good sign as it can be assumed that all these people here most likely have some level of trust in this establishment. A service writer promptly greets the customer, and they immediately discuss the problem at-hand. The customer emphasizes the car is needed back as quickly as possible.

The service writer assures the customer the problem will be diagnosed, and the necessary service along with cost of repairs will be provided before any additional work will be started. Arrangements are made to drive the customer to his office with the understanding the service writer will follow up within the next two hours.

The customer journey is in the 12 o’clock position and as long as everything meets or exceeds the customer’s expectations, the customer journey remains in this positive position. But what happens when things don’t go as planned? Shit happens, right?

I don’t want to bore you with this step-by-step scenario, but please humor me and read on as we take a look at what could happen next and how things could easily and quickly spin out of control.

Two hours go by and there’s no call from the service writer. An additional hour creeps by and still no call. Surprised, the customer calls the dealership and is put on hold while the service writer is on a call with another customer. After 15 minutes waiting on hold, the customer hangs up and calls back only to be told the service writer just left for lunch.

Disappointed, the customer leaves a message for the service writer to call him back ASAP, reiterating the need for the car later that day or to at least be able to make arrangements for alternate transportation. An hour and a half later, the customer calls back the dealership and is again put on hold. Now doubting the decision to have this dealership take care of his car, the customer anxiously waits for the service writer to get on the line.

You’ll note in the image above, the experience is in the blue third of the circle. It’s blue for a reason as emotions are still somewhat cool. Interestingly, surprise, disappointment and doubt can be squashed by bringing the experience back to the 12 o’clock position. Something positive must be done, and quickly.

“Mr. Jones, I’m sorry I missed your call and as we’re super busy, when I had a short break, I decided to grab lunch. However, I did make sure to have your car checked and as I know you need it back ASAP, and as it appeared the problem was minor, I had my mechanic make the necessary repairs and the car will definitely be ready by 5 o’clock. The cost of repairs is $237. Can I arrange to have our customer courtesy driver pick you up at 5 o’clock?”

Even though the customer wasn’t given the opportunity to authorize the repairs, the service writer appears to have the customer’s best interests at heart. BAM we’re back to the 12 o’clock position. That is, until the car is not ready at 5 o’clock. Although, the customer has been picked up and is back at the dealership.

Again surprised, and sliding quickly to feeling disappointed again, the customer accepts the situation as it is and asks for a loaner car. “Sorry, we don’t have any left.” The customer then asks about a car rental. “Sorry, it’s now 6 o’clock and they’re closed.” The customer requests a drive home. “Sorry, my driver is dropping off our last customer and heading home from there.” With emotions starting to spin out of control, the customer requests he take his car with the promise to return tomorrow. “Sorry, various things had been taken apart and my mechanic just left for the night.”

Sure, this may be an extreme scenario, but similar situations do occur every day at businesses everywhere. Whether at an automotive shop or a restaurant or even with in-home repairs, surprise, disappointment and doubt happen when expectations are not met, when communications break down, and when a customer is left with no options and a feeling of having lost control in the matter. So, what happens next?

The journey continues into the pink zone. Emotions start to run high. Frustration and anger set in. Before you know it, the situation slides into the red zone. Tempers flare and buyer’s remorse sets in.

Let’s update. The car is fixed. The repairs ended up costing $687 and the customer was able to pick up the car in time for the scheduled trip.

Does it matter at this point? Is the customer satisfied? Will the customer return for service in the future? Will the customer refer others to this establishment? The resounding answer is, NO!

Is it possible, if not likely the customer will badmouth this business to others and maybe post a negative review online? The resounding answer is, YES!

OK, shit happens but let’s assume there was nothing intentional here on the part of the service writer and/or mechanic. It happened but how can improvements be made to avoid a similar experience in the future? Why is it important to know? After all, the situation is behind us. It’s over! BUT it was a bad customer experience AND it was a terrible employee experience. AND if others heard the commotion, it was a bad experience for them, too?

AND if nothing is done to evaluate and to make improvements to ensure situations like this don’t happen again, how does that affect the culture within that business. You see, there are multiple experience factors that stem from each situation. Each one can be used to evaluate and improve processes and procedures.

In today’s era of economic uncertainty, it’s critical that processes and procedures be in a constant state of evaluation and improvement. The experience factor should be treated like a line item much like anything else that costs and can cost the business money AND can cost the business its customers and employees. Only by treating it like a line item will it be front and center and treated accordingly no different than costs that may be spinning out of control.

As the ‘Preparing for War: You vs. Recession’ series continues tomorrow, we’ll address how to best evaluate the experience factor and use the information to improve business AND its culture. We’re in the home stretch and will wrap up the series early next week as we address mental health awareness for both business owners and their employees. Upon completion, the series will be turned into a white paper to be shared with all who requests a copy.

Have a great day. Make it happen. Make it count!

Help is just a message, phone call, email or text away!

The future may be a bit bumpy for some, more so for others. Knowing who to turn to and when to turn to for guidance and help is important. Having resources at your disposal is also important. So, if you hit a wall, for whatever reason, please feel free to reach out to me for assistance or even if you just need someone to talk to. Please do not hesitate. You can reach me right here on LinkedIn, by email to Paul@Acceler8Success.com, and by phone or text at (832) 797-9851. Learn more about Acceler8Success Group at Acceler8Success.com and also at Entrepreneurship411.com.

Bring the series to your organization

If you’re interested in having this series presented to your organization, either as a webinar, workshop or conference break-out session, please click HERE for more information. The program can be tailored to your business model, product, service offering and industry segment. It has been resonating quite well with franchise and restaurant brands.

Yesterday we discussed the importance of delivering positively memorable experiences for customers as a key part of an action plan to combat various challenges small business owners are and will be facing during a period of economic uncertainty. Without a doubt, customers will keep a tighter grip on their wallets, but I do believe they will still frequent businesses for more than just necessities. So, the customer experience is paramount to ensure customers come to your business and return again and again.

As employees are instrumental in creating and delivering the customer experience, what would happen if an employee were unhappy, dissatisfied or disgruntled? Would they be capable of delivering a positively memorable experience? Could their attitude be detrimental to the business? Of course, we know the answers to both questions but sadly, these employees are on the front line of many businesses today. Even more so is that they most likely didn’t have a bad attitude when they were first hired.

It’s been said that a salesperson is more successful if they believe in the product they’re selling. Is that also the case of the restaurant server or retail clerk? Of course, it is. Although, it’s not as much about believing in the product as it is about what they themselves see happening within the business, how management treats employees and its philosophy about customer service and the customer experience, and the mindset around the physical condition of the restaurant or store.

Also affecting the employee experience are lack of opportunities to progress in their positions and within the company itself, to participate in discussions about improvements in day-to-day operations, and to be listened to about customer needs and desires. Employees want to be part of the solution and not always just the front person dealing with customer problems.

Customer loyalty to the business certainly goes a long way to generating repeat business and referrals but can customer loyalty be achieved without a personal connection? What motivates a customer to return to a business? A great looking building? Clean restrooms? Or even just great food or service? Sure, those may be contributing factors, but it’s not enough to ensure customer loyalty if there’s not a personal connection – one that both delivers and extends the customer experience.

As fragile as customer loyalty may be, it is even more so without a personal connection. If a personal connection is absent and something goes wrong during a store or restaurant visit, it will certainly affect the customer’s opinion and potentially cause a customer to visit less or try another business. A personal connection creates a relationship, a bond. One that if something does go wrong, a customer would be almost apologetic in complaining. It often becomes a conversation with suggestions instead of one rife with confrontation.

The bottom line is that the brand, or the physical aspect of the business may attract a customer, but the customer ultimately wants to do business with individuals representing the business, and the customer’s best interests. Customers like the familiarity established in the relationship. They love when they’re immediately recognized as they walk in the door. They love when they’re ushered to their favorite table, and without asking. They love when they receive this personal attention.

Creating an environment where a positive experience is created at all times for employees is essential to business success, and especially at a time when employee loyalty is becoming harder and harder to find. It’s more than just throwing money at employees. Sure, money helps, but not without the employee being happy. Correction, being satisfied and feeling good about all that surrounds their job. And being inspired and motivated to want to do more.

Facts and Questions to be Considered

According to Gallup, businesses with higher levels of employee engagement showed 21% more profitability and 17% more productivity.

A recent study from Deloitte found that 80% of executives said they consider the employee experience to be either very important or important, yet only 22% reported that their organizations did an excellent job of creating a differentiated experience for employees.

What defines employee experience? Employee experience is an employee’s perceptions about his or her journey through all the touchpoints at a particular company, starting with job candidacy through to the exit from the company.

What contributes to a positive employee experience? HR experts say improving the employee experience is about more than simply gathering feedback during an annual review. Organizations need to value employees, consistently listen to their needs, and continuously take action to truly improve employee experience.

What is the goal of employee experience? The purpose of employee experience is for companies and their employees to work together to improve individual, team and company performance, providing the employees with a high-quality physical, cultural and technological environment.

Why is it important to have a positive employee? In interacting with others, an employee exhibiting positive energy is cheerful, respectful, and polite. They are also approachable and engaging as opposed to inaccessible and despondent. The attitude necessary for possessing positive energy is being grateful to be part of the team.

What does it take to make employee experience extraordinary? Invest in good technology. Good technology (specifically, a good communications tool) will enable streamlining of communication and processes and improve company culture and engagement. Encourage honest dialogue. Make every moment count. Enable managers. Of course, there’s more but this a great start.

We’ve only scratched the surface today. Tomorrow I’ll expand upon the employee experience and highlight how developing the right culture becomes the foundation from which to build a solid experience factor into a company’s business model. I’ll also be re-introducing what I refer to as the ‘experience journey’ and how it can be used to gauge and improve the experience factor.

Final Thought for Today

A lot of effort goes into developing the correct product mix and service offering. A great deal of money is invested in building a beautiful building, inside and out. A lot of attention is directed at the details necessary to build a successful business. But an experience factor FOR ALL who “participate” in the business from all sides is often an afterthought yet is critical to business success. Maybe even more so during challenging times.

Have a great day. Make it happen. Make it count!

Help is just a message, call, email or text away!

The future may be a bit bumpy for some, more so for others. Knowing who to turn to and when to turn to for guidance and help is important. Having resources at your disposal is also important. So, if you hit a wall, for whatever reason, please feel free to reach out to me for assistance or even if you just need someone to talk to. Please do not hesitate. You can reach me by email to Paul@Acceler8Success.com, and by phone or text at (832) 797-9851. Learn more about Acceler8Success Group at Acceler8Success.com and also at Entrepreneurship411.com.

The discussion about a 4-day work week continues to heat up. Hardly a day goes by that I don’t see an article debating the pros and cons, as well as the “necessity” of having an additional day off from what has been the typical 5-day work week for years. It’s interesting to read different perspectives on the topic. From business owners to executives to salaried staff to hourly employees, all seem to be making strong points whether for or against the movement.

I first became aware of a 4-day work week back in 1978 when I moved to a small town just outside San Antonio. USAA, one of the world’s largest employers in San Antonio at the time and still today, was on a 4-day work week. I thought, what a great idea. Of course, at the time I was only thinking about it from the perspective of an hourly employee.

Oh my God, 3-day weekends, every weekend!

As someone who has mostly worked in a home office for the past twenty-plus years, I really don’t have a set work schedule. Actually, I do but what I don’t have is a set schedule to end my workday, or for that matter, even to start the workday. Sure, we could debate the premise of entrepreneurs working 16-hour days, 6-7 days a week as being ridiculous and unnecessary, and essentially being nothing more than a foolish badge of achievement but let’s keep that for another day. I promise we will address it here very soon.

Today, let’s look at the 4-day work week from the small business owner’s perspective. Is it feasible to operate the typical small business only 4 days? For the most part, the answer is no. After all, the business will need to be open 6, if not 7 days a week. It’s certainly a different situation than that of an office setting for a major corporation that could essentially close an extra day like a weekend day. Or schedule overlapping shifts and remain open 5 days a week.

Yes, there are options and probably some very creative options to make it work. Or are we really talking about moving to a 4-day work week but keeping daily schedules at 8 hours, at the same wage as for a 40-hour work week? With already slim margins at the typical small business, that seems impossible to even consider. For restaurants, I don’t see any way it would be possible.

That all said, I am an advocate for a 4-day work week at 8 hours per day. In certain work environments, I can see how it could actually increase productivity as some of the case studies have proven. A 4-day work week could go a long way to improving employee wellbeing and mental health. Yes, I could see the benefits, but I can also see the pitfalls.

Personally, I envision the 4-day work week as an option. For some companies it could work. I just don’t believe it can be something that would work effectively across all industry segments and especially, in a society that is driven by instant gratification and convenience. Therein is the key.

I believe the 4-day work week would have had more of a chance of being successful across the board back in the day, when weekends were days of leisure, family and worship.

Many businesses were closed on Sundays and workers had the day off. Saturdays were for errands and chores and dealing with things that weren’t done during the week. People stayed close to home washing their cars, mowing their yards and grabbing a few things at the local grocery store.

Customer-facing businesses were open, typically until 5-6 PM but banks, offices, etc. were closed on Saturday. So, it was mostly small businesses that were open. For businesses that were open on Sunday such as bakeries and restaurants, they closed early on Sunday and all-day Monday, as well.

Of course, that is not the case today as we are accustomed to being able to do what we want to do and at any time during the day. We’ve even grown accustomed to stores being open on major holidays, late hours and 7 days a week. Do we really need to shop at 6AM the day after Thanksgiving or shop for furniture at 10PM or for anything on Sunday? Certainly not, but it is what we want. It’s what we command.

If off from work an extra day per week, what would we do that day? Would that extra day be like the typical weekend is today with us running from store to store, almost at a frantic pace? If work schedules revert to a 4-day work week, will extra workers be necessary to man the stores and restaurants? Will some people look to take on an extra job with an extra day off, thus killing the notion of the extra day being necessary for one’s wellbeing and mental health?

I really don’t believe there is a one-size-fits-all solution. Yes, the 40-hour week should be an option, but it cannot be the rule of thumb across the board. That is, unless our mindset as a society reverts to the way it was back in the 1950’s. I just don’t see that we can revert back to living an Ozzie & Harriett life again. I, for one will not be wearing a tie for dinner while sitting at my dining table? I look forward to your thoughts, so please don’t be shy!

Have a great day (and weekend). Make it happen. Make it count!

If there was one benefit for small business owners and entrepreneurs from the pandemic, it was learning how to pivot, shift, and survive. Lean and mean was the order of the day, driven by watching numbers – cost of goods, payroll, and accounts payable & receivable.

To that end, I believe CPA’s, accountants and financial advisors did a remarkable job helping businesses survive in what was a 2-year business-threatening Sunami. Today, I’d like to give a shout-out to all who worked diligently behind the scenes to keep small business afloat and now are being asked to do it again in light of the current level of economic uncertainty.

With the financial side of the business continuing to be addressed from lessons learned during the pandemic, it must be realized these efforts alone will not be enough to survive the recession that is barreling our way or may already be here as we speak. After all, there’s only so much a business owner can do on the financial end of the business. I refer to this as being reactive – reacting to the times… monitoring, controlling and actions are just a few steps that come to mind.

Sure, it takes being proactive to jumpstart these efforts but from there it’s all about being reactive like a hockey goalie protecting the net, blocking shot after shot but it’s not the goalie alone that wins games. If a goalie is spot-on and does not allow a goal, the best the team can hope for is a tie. The offense must do their job for a different outcome. Even more so from the perspective of an errant deflection that may sneak the puck past the goalie. In that scenario, if the offense is flat, the team loses 1-0 despite the stellar performance of its goalie.

The same is the case with our finance professionals. They could do the best job imaginable on all fronts. However, if revenue isn’t generated, there will be nothing to manage and the business ultimately loses because in business, there are just too many errant deflections. It’s as if the goalie is trying to protect the net when several opposing players are each shooting pucks at him – at the same time! Unless the goalie is an octopus, it’s just not feasible to stop every shot, more less the errant deflections.

Please understand, the proactive measures must complement the reactive ones just as they do in hockey and in any professional sport. It just doesn’t make sense, let’s say to be entirely proactive and leave the rest to fend for itself. Conversely, the same is true. Action plans to battle an economic downturn and ultimately, a recession must include BOTH approaches at the same time. They must be interdependent!

And, as in any sport, the action plan sets the stage before the action starts. It reminds me of a quote from Sun Tzu’s Art of War. It is all about planning, strategic planning.

First on the proactive side must be the development of goals. Not just from the standpoint of a sales figure as a goal but from the various things from which sales are generated. The bottom line… it’s an understanding of what makes up a sale, and how to get to the actual sale.

Questions that must be asked and answered include how many leads it takes to result in an appointment, how many appointments will result in a presentation, how many presentations will result in a sale, etc. Of course, this part of the process must be tailored to your sales process. If addressed honestly, it may actually be determined that the sales process needs tweaking, or even an overhaul. Do not procrastinate at this point. If it needs fixing, it must be fixed!

When addressing the sales process, it must also be determined what it will take to generate the leads necessary to keep the sales funnel full and to the extent goals can be met. This is where some education is imperative. It’s alarming how many business leaders really don’t understand the difference between marketing, advertising, public relations, and branding, often tangling them together. Many also don’t understand how they all work together and/or complements each other. In order to develop an effective plan, the differences must be understood, as well as the complementing benefits.

So, as we look back at goals, they must be established based upon data, analysis, and projections. Informed decisions are always best. The same is true for goalsetting. A key point in this process is to be sure all stakeholders and staff are involved each step of the way. Doing so will go a long way to ensuring they’re committed to the goals, and to the plan. If they’re part of the process, they will believe in the plan. Teamwork works!

The financial side of the business is just one cornerstone of the action plan. Another one is sales & marketing, although I still find it interesting that we always say, ‘sales & marketing’ when nothing happens without a sale. Should it really be ‘marketing & sales’? I only bring this up as I believe there really isn’t one before the other because they’re interdependent upon each other in order to achieve defined goals. You see, one doesn’t work without the other just as defense doesn’t work without an offense, and how being reactive must be complemented with being proactive.

When we resume the series next week, we’ll discuss another cornerstone, ‘customer or client experience’. Does anyone know the fourth cornerstone? Well, I won’t leave you in suspense. It’s ‘culture’. We’ll also pull together all four cornerstones as we set them all in place for a solid foundation. We will take a deeper dive into each and how effectively working together will be key to an effective action plan.

I’m committed to providing as many resources as possible to help small business owners survive, and thrive including current (and aspiring) entrepreneurs, franchisees, restaurant operators, solopreneurs, freelancers and all who essentially ‘eat what they kill’. Meaning, they rely on the money they earn, not a paycheck.

As always, your input and perspective are greatly appreciated.

Have a great day. Make it happen. Make it count!

Help is just a message, call, email or text away!

The future may be a bit bumpy for some, more so for others. Knowing who to turn to and when to turn to for guidance and help is important. Having resources at your disposal is also important. So, if you hit a wall, for whatever reason, please feel free to reach out to me for assistance or even if you just need someone to talk to. Please do not hesitate. You can reach me right here on LinkedIn, by email to Paul@Acceler8Success.com, and by phone or text at (832) 797-9851. Learn more about Acceler8Success Group at Acceler8Success.com and also at Entrepreneurship411.com.