Business Articles

To Trust or Not To Trust

ToTrustOrNotToTrustI recently discovered that someone I thought I could trust was not trustworthy. This person divulged information that I had assumed would not be repeated to others. This assumption was based on the fact that we were good friends, but also because they had shared similar confidential information with me. It was not that I stored that person’s information thinking that it was a form of ‘insurance’, but rather, an assumption that we had a high level of trust because we were both willing to share this type of information with each other.

Unfortunately for all of us, this scenario is the risk that we take when we choose to trust people. In business, many of us spend a great deal of time cultivating relationships to get ourselves known in the local community. Sometimes these ‘work’ relationships become friendships which is a lovely outcome! But it can also lead to situations where we open ourselves up to confidences being broken or information we have shared being used against us.

Hopefully this has never happened to you! But if it has, it is important not to let it affect your interactions with others. Instead, let it be a learning experience for you, so that in future, you might notice, or listen to, the warning signs. So often in hindsight, the signs were there but because we trust, we overlook them.

Sometimes trust can be eroded over time, rather than one specific incident, because we tolerate behaviours or actions that should be called to account. So when trust is broken, it is also important to evaluate what part you played in it. Did you allow someone to take advantage of your generosity? Did you allow negativity or cynicism to become a feature of your interactions? Being aware of your role can give you more insight into future relationships and allow you to be more rigorous in your due diligence and evaluation of a given situation.

 


Michelle Grice writes a weekly column for business women in The Western Weekender

 

 

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The Real Deal

One of the earliest pieces of advice I was given when starting my own business was to ‘be myself’. I think it is still the best advice I have ever received. Too often I meet people in business who are obviously trying to be something, or someone, they are not. They are trying to emulate their competition, or be who they think people want them to be. But no one can sustain this for long. The only way to succeed in business is to be genuine.

In almost every industry, there is a level of trust that must be achieved before a customer will engage with you, and more importantly, continue to engage with you. Much of that trust ultimately comes down to the strength of your character. Every person you meet, whether they realise it or not, are looking to see if you are genuine.

When you communicate with someone (in person or otherwise), your reputation is established by what you say and by what you do. Brilliant branding and a fantastic mission statement mean nothing if it is not also backed up by a genuine connection. Much of this comes down to caring: when you care about your customers, they feel respected and valued, and will come back for more.

Being genuine is also about creating a strong reputation and credibility. To be credible, you have to consistently reflect your values and principles – if you are attempting to emulate someone else’s values, it will soon become obvious to others that you are not the ‘real deal’. ‘Being yourself’ not only becomes the simpler and ‘easier’ option, it is also the best way to build a business with a solid foundation.


Michelle Grice writes a weekly column for business women in The Western Weekender

 

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Micromanaging

You’ve hired some great staff to work in your business. They’ve settled in nicely, although you are wondering when your workload is going to decrease – in fact you feel like you are doing MORE work not less. What is going on?

Chances are, you are micromanaging your staff. Here are some typical scenarios:

  1. You make assumptions about ability and skill level. It took you six months to get a handle on a particular skill, so you assume it will take someone else the same amount of time. Do not let pride get in the way of potential for improvement! You hired your staff for their skills, aptitude and experience. Let them use it.
  2. You are not open to things being done differently. Your method has always served you well, so you expect your staff to perform a task in the same manner. Do not let fear of change get in the way of new and innovative ways to work!
  3. You are uneasy about trusting your staff to work efficiently when they are unsupervised. How are you going to know they are doing the work they should? At some point you will need to take a ‘risk’ and let your staff stand on their own. They may make mistakes, but use those incidences as learning experiences. The vast majority of people respond well to trust and are likely to perform better when they are given responsibility.

In general, the more ‘hands off’ you can be, the better the result. This does not mean you leave a staff member to work with no boundaries or relevant, essential procedures. But allowing your staff to make a job their ‘own’ will result in an increased level of ‘ownership’ of their position and/or particular tasks, and increased loyalty to your business.

 


Michelle Grice writes a weekly column for business women in The Western Weekender

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Partnerships

PartnershipsMany women embark on business ventures with friends, family members or other women they have come to know through business networks. At the beginning of a partnership, it is exciting and you are both determined to make it work. But how do you know if it is time to end a partnership? Here are some signs:

    1. The passion is gone. One of the main reasons you started a business was (or should be) because you were passionate about the goals you set or what your business could offer. If that passion is gone, or you and your business partner can’t agree on direction, you need to consider whether going separate ways is the better option
    2. You resent the financial split. Most business partnerships begin with a 50/50 split. But often, roles change, priorities change and you realise that you get annoyed because you seem to be doing most of the work. If you can communicate well with your partner, this may be an opportunity to re-negotiate the split (they may be happy to work less and therefore be paid less). But this process can be fraught with difficulties and may be best resolved by ending the partnership.
    3. You no longer trust your partner. If you cannot trust your partner with their area of responsibility, or do not trust the manner in which they represent your business, then it is definitely time to refer to your partnership agreement (I hope you have one!) and start the process of selling your stake or buying your partners stake. The longer you leave this, the more impact there will be on all areas of your business, and the value of your business will decrease.

 


Michelle Grice writes a weekly column for business women in The Western Weekender

 

 

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Are you a good catch?

 

I've been realising more and more that business relationships have many comparisons to personal relationships - and are often as complicated! I've come up with a list of "relationship questions" to work out if your business is a "good catch":

  • what first impression does my business make? Does it catch the eye of potential clients or does it blend in with the crowd?
  • is my business attractive to potential clients? Is it "well dressed"/well presented?
  • what values does my business project to potential clients? Are those values consistent across all my business activities? Does my business express those values clearly from the outset in all it does?
  • how well does my business "woo" potential clients? Does it give an impression of confidence and trust?
  • how does my business foster ongoing relationships? Does my business communicate regularly?
  • are all my clients treated with respect? Does this show in all the ways my business interacts with clients?
  • how are "relationship problems" dealt with (i.e. complaints)? Am I committed to solving issues in a timely and sensitive manner?
  • are “anniversaries”/milestones celebrated with clients?

Just like in personal relationships, it can be difficult to objectively answer these questions, because we can have an impression of ourselves (good or bad!) that may not be entirely accurate. What we THINK we are projecting might be very different to how people perceive us.

A savvy woman would ask her girlfriends to give her honest feedback about how she "comes across" - not always an easy thing to do but for anyone who really wants to improve their chances of "relationship success", it can be a fruitful exercise. So too in business, asking for objective opinions about your business is extremely valuable, even if it may be hard to hear!

My suggestion: ask a range of people the above questions about your business. Choose people who know your business well and some who have little knowledge of your business. Although not everyone can answer all the questions, you'll get some really interesting and valuable feedback.

And in the words of Zig Ziglar: “You cannot perform in a manner inconsistent with the way you see yourself.”

 

 


Michelle Grice writes a weekly column for business women in The Western Weekender

 

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Contact Us

Shel Design
PO Box 8142, Glenmore Park NSW 2745
0412 701 147
This email address is being protected from spambots. You need JavaScript enabled to view it.
Mon-Thurs 9am-4pm
ABN: 88 695 161 542

Contact Us

Shel Design
PO Box 8142
Glenmore Park NSW 2745
0412 701 147
This email address is being protected from spambots. You need JavaScript enabled to view it.
ABN: 88 695 161 542

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