Welcome to TrueNorth Business Consulting presentation of a Business Makeover. Each month will feature an idea that can help your business. True North focuses on small businesses, but especially helping health and wellness practitioners to maintain and grow their business using the areas of law, marketing, insurance and project management.
I gave a seminar, and when I finished I had a few people come up to me to ask questions. I was surprised that the questions were ones that would require about 5 minutes of internet research to get an answer. It struck me that people don’t do research, and part of managing any project or making a business decision is looking at historical information.
Historical information let’s you see what was done right and what was done wrong. Other people have made similar or the same decisions. You may be able to find some information on the internet, or you may have to ask others.
An example I like to use to illustrate the usefulness of research is designing a website. Once you decide you need, or want to revamp a website, what do you do? Well, first you want to look at other websites-see what they have done successfully and not so successfully. What do you like about that website? Next, you want to think about the elements—do you want a blog? Do you need a shopping cart?
Before you hire someone, you want to look at what is available that you can do yourself. There are online blogging programs, like WordPress or LiveJournal that you may want to use, which would be less expensive.
If you are using a web designer, then get referrals to many. Ask to see their work, and talk to their clients, if possible. You want to make sure your project comes in on time and within budget. Check out the web designer’s previous experience.
Lastly, you want to make a list of all the things you want on your website, along with a date of when you want them completed by. As time goes on with your project, then you can check off things on your list, and also write comments on what is going well and what you need to change.
In the future, when you need another website, you will have your research, plus your historical information to go back to. You will notice a faster project, and have used your research skills to get you there.
SDO grassroots networking meeting Tuesday, July 20 8:30 a.m. to 10:30 a.m.
FREE COFFEE (NEW Meeting Concept):
An opportunity for certified businesses to connect with other certified business in their area, to build relationships and foster growth. This session will also contain a short presentation on Leases, Agreements and office space options by attorney Cynthia Pasciuto Hosted by:
Kate McDonough, President
Waterfield Business Center, LLC
12 Alfred Street, suite 300, Woburn, MA 01801
Tel: 781-897-1700 Fax: 781-897-1701
Welcome to TrueNorth Business Consulting’s presentation of a Business Makeover. Each month will feature an idea that can help your business. True North focuses on helping businesses, especially health and wellness practitioners, maintain and grow their business using the areas of business law, marketing, insurance and project management.
Mediation is a form of alternative dispute resolution (ADR) where a third party neutral, or mediator, facilitates so the parties can come to a mutually beneficial resolution. Mediation is not binding, but a contract or an agreement can be the end result, which is legally binding.
One reason small businesses fail is because they cannot afford litigation, fear losing the business relationship with the contracting business, or misunderstanding of contract terms. The small business owners are experts in their own profession, but lack resources in conflict management. In normal business circumstances, conflict arises, and usually there is litigation. Mediation is less expensive and can preserve the business relationship.
Most businesses are not familiar with mediation or mediators. To be a mediator the neutral must complete a course, which is usually a 30 plus hour class. Mediators have all different backgrounds- law, psychology or industry experience. In choosing a mediator you want to be aware of their background so that you can have confidence in their ability. Family disputes would be better with a mediator with a psychology background, while business disputes may need a lawyer mediator.
However, the mediator does not make the decision for the parties—that is up to those involved. The idea is that when that happens, the parties will stick to the decision. In order for there to be mediation, a clause should be added to a contract which states the parties will use mediation along with naming a local mediation service or mediator. TrueNorth Business Consulting provides business mediation in Massachusetts.
The importance of good conflict resolution skills along with access and recognition of mediation services is critical. Many fiscal opportunities are lost, resulting in impacts to the community at large. Businesses strengthen a community with jobs and contributions when they are successful, businesses closure brings with it an increase crime rate and population decrease. Therefore for conflict resolution you should look into mediation first.
Most small businesses accept the idea of a verbal contract, agreeing to terms that were said. If there is a problem, then they hope each side has perfect recall. More often than not, memories are faulty and the business relationship is broken.
When a verbal contract is not used, there is a written contract and the small business owner finds it overwhelming. Does not understand it, but signs it anyway because it is supposed to provide protection for both parties. Plus, the business owner wants the money the contract promises when he/she performs their service.
In legal coaching my first question is: What do you need to be protected against?
There are all sorts of risk from financial to physical. If you are afraid that if something goes wrong and you could lose everything, then you need to make sure you understand the damages section in the contract.
You need to make a list, in your own terminology from your own experience of what can happen. Can you afford to be paid at the completion of the project which may be a year or two years later? What if you are unable to deliver your product or service? What could happen that will stop you from completing the project?
Next you want to think about the client, since that is who is receiving your service. From their point of view what can happen? To answer this question you can use personal experience, and you may want to do some research. What have been problems that clients have had when using vendors in the same service? Using the internet you can see what the issues have been with that particular client, and then make sure to contract to avoid them from happening again. This is a great opportunity to hone your business.
Then my job is to help you understand how that can be added into a contract, and bring awareness so that you can complete contracts confidently. I can also point out if a contract does not minimize the risk, then there are other ways to protect yourself.
Contracts are a common occurrence in the business world, which you need to manage successfully.
Most businesses, in my experience, are unable to afford a lawyer for every contract they sign; they are basing decisions on their own expertise, which is not the law. Using services provided by TrueNorth Business Consulting can help you learn to make these decisions on an ongoing basis with confidence.
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Welcome to TrueNorth Business Consulting’s presentation of a Business Makeover. Each month will feature an idea that can help your business. True North focuses on helping health and wellness practitioners to maintain and grow their business using the areas of business law, marketing, insurance and project management.
There are many factors that go into any negotiation- what style you use (competitive collaborative, accommodating), cultural issues that impact values and habits, and lastly gender. Men and women negotiate differently.
“I want this for this amount,” is a male statement.
“I’d like to know how you came up with that number,” is a female negotiation statement.
Men view negotiations as a one time event. They are better at negotiating for themselves and reaching individual goals. They are usually more competitive.
Women, on the other hand, often let negotiation opportunities go by, set low goals and concede easily. Unlike men, usually women let their emotions show through, but are more about mutual gains than individualistic tendencies.
Neither style is right or wrong. There are suggestions so that men and women can negotiate more effectively, especially when it is a long term relationship whether business or personal.
First there should be a correcting of impressions. Also look to taking turns talking and possibly moving physically closer together than staying farther apart. Take the opportunities to ask questions. Negotiation, in this case, does require preparation. This would not be a one time negotiation to buy a car, for example.
Men and women can have successful negotiations with a little understanding of the differences that each brings. It is not a hindrance, but a chance to learn how to communicate effectively and for women, an opportunity to level the playing field where sometimes they feel at a disadvantage.
A best practice is a process that a business uses to effectively deliver a service or product to the public, consumer, or other business. It is efficient because there is a pattern that will be followed so that a good experience is produced.
It is used in education, insurance and nursing, to name a few industries, but the idea can be applied to any business no matter the size.
For example, my friend went to a yoga class at a local gym. She had attended that particular class for over a year- Intermediate Vinyasa. On this day there were the ten regular people and two newcomers. The instructor changed the class to benefit the two newcomers. However, her other clients were left with a workout they did not want.
This is where having a published Best Practices would be beneficial. Perhaps something like:
1. Classes will start on time.
2. If the instructor is not present, and the class cannot continue then the students will receive a certificate for a free class.
3. Classes are marked at certain levels; please choose the level that is right for you. Modifications will be announced, but the classes will continue at the published level.
4. Our location will always be clean and safe.
The benefits of having Best Practices can be used in marketing to show consistency in your product, plus you will gain word of mouth clients because of your standards. You are also setting a legal benchmark for your business, because of this you want to make sure that you can meet your best practices.
If you have a business to business model, then Best Practices can still be used. Your focus may be on:
• We believe in alternative dispute resolution and will use mediation if a conflict arises. We want long term relationships
• We always use Delaware law in our contracts.
• We will answer your request within 24 hours
• We work with the following charitable organizations and hope you will help.
It is a gain for employees too. They will gain an understanding of what is expected of them, and what level of service they need to provide.
Taking some time to create a Best Practices will allow you to put your best foot forward.
I will be presenting Advocating For Yourself at the following conference:
Gearing Up
Fifth Annual Career Advancement Conference for Professional Women
Gearing Up: Fit to Lead
May 7, 2010
Executive Dining Room LaCava 395
8:00 a.m. to 3:30 p.m. Bentley University Campus
In May, the American Massage Therapy Association will be offering an online class created by TrueNorth Business Consulting entitled, Knowing Your Business Can Mean A Better Practice.
Continuing Education credits are offered. For more information:
