Category Archives: Business Savvy

Lessons Learned from Blogging

As a small business owner who blogs weekly, I field plenty of questions about my experience. Most of the questions are from other small business owners who are thinking about blogging to market their business. The most difficult conversations are with entrepreneurial sorts who are just starting their business and are looking for a quick way to generate revenue.

I know how they feel. When I started my human resources consulting business, I was transitioning from a career giving legal advice. I had no clients and a small network of contacts.  I began blogging when other methods of increasing my client base seemed to have failed. But after almost five years of blogging, I can’t tie a single dollar of revenue directly to my blog.

So my biggest lesson in blogging is that it won’t jumpstart the revenue stream of a business. What it has done is establish my company’s digital presence so potential clients know we exist and it keeps me in front of potential referral sources who are also loyal readers. That’s a return on investment that money can’t buy.

I continue writing my blog because I enjoy it.  It’s a wonderful way for me to demonstrate the scope of my knowledge on human resources and employee issues. It’s also a fabulous way to examine how humans work together in groups. Our relationships with our co-workers are the longest term relationships we ever develop outside our families. That means drama.

Drama can take many paths from bitchiness to physical violence. That brings me to my next lesson in blogging. Some drama is simply too controversial to cover in my blog.  Drama related to race, religion or politics is so polarizing that any conversation is immediately short circuited by the reader’s existing beliefs.

My readers reflect the diversity of our country.  If they want polarizing arguments, there are plenty of other bloggers who would love to have them as readers. But who wants an HR expert who causes workplace drama?

So I touch on these subjects very carefully while leaving the controversy to others. I prefer to look at topics that illustrate the absurdity of human behavior in common workplace settings.  I would never mock anyone’s behavior because that’s cruel and petty. But we’ve all seen (and will sometimes even admit to) creating workplace drama.  In hindsight, it’s often funny.

That’s the other big lesson of my blog. I want it to be enjoyable. HR is so boring if we only look at the rules and what is prohibited. If my blog is full of pontificating pettifoggery, no serious small business owner will want to hire my company to help with their problems.  But if the business owner has a chuckle about a situation she or he faces every day, they can face the day with a smile.

 

About Norma Shirk

My company, Corporate Compliance Risk Advisor, helps employers (with up to 50 employees) to create human resources policies and employee benefit programs that are appropriate to the employer’s size and budget. The goal is to help small companies grow by creating the necessary back office administrative structure while avoiding the dead weight of a bureaucracy.  To read my musings on the wacky world of HR, see my weekly blog HR Compliance Jungle (www.hrcompliancejungle.com) which publishes every Wednesday morning.

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You Are Being Watched

 

A now cancelled TV series began with a voice saying, “You are being watched”. The series was about a small shadowy group that used technology to achieve social justice. The final two seasons of the series were scary and depressing as another shadowy group built a supercomputer program that undermined our democracy.  The bad guys’ supercomputer system eventually destroyed the good guys’ supercomputer system.

The scary part was that we are under constant surveillance. We’re told that it’s for our own good.  Security cameras in buildings help catch trespassers. Cameras at intersections catch dangerous drivers.  Blinking blue lights in high crime areas tell the bad guys that their future criminal trials will feature photos or video showing them in the act.

We accept these invasions of our privacy because we trust the self-proclaimed good intentions of the private companies and government entities who invade our space.  Are we wise to be so trusting?

Consider Fitbit and similar devices which allow us to track our personal health. What if a health insurer uses that information to decide who is an acceptable risk worthy of their insurance coverage?  Who trusts Facebook after they proved that their profits are more important than the privacy of one billion daily users? Technology companies share our personal information with the government with or without a warrant signed by a federal judge.

The militarization of our society and its vocabulary means that everyone, including employers, wants to “surveille” and to gather “intel”.  Employers introduce wellness programs that help employees to live healthier lives; but really it’s about reducing employer losses due to low productivity caused by sick employees.

Employers also say they want to help employees work more efficiently in order to increase productivity and profits. That’s understandable; a lack of success means a lack of jobs. But how is technology being used to increase productivity? The newest tech toy for employers is described in the March 3, 2018 edition of The Economist.

Amazon has just obtained a patent for a wristband that would allow the company to track detailed information about each employee’s location and movement.  Amazon says this gizmo is intended to nudge employees into performing their jobs more efficiently.  Amazon is not using their new gizmo yet.

But what if employers treated their employees as the real assets that make the company a success?  What if employers rewarded employees for their productivity gains with better pay and benefits rather than blowing the gains on stock buybacks and pay raises for overpaid senior managers with golden parachutes?

Employers who trust and value the contribution of every employee don’t need to spy on them to nudge performance improvements.  Or to put it another way, just because technology exists doesn’t mean it’s a good idea to use it.

 

About Norma Shirk

My company, Corporate Compliance Risk Advisor, helps employers (with up to 50 employees) to create human resources policies and employee benefit programs that are appropriate to the employer’s size and budget. The goal is to help small companies grow by creating the necessary back office administrative structure while avoiding the dead weight of a bureaucracy.  To read my musings on the wacky world of HR, see my weekly blog HR Compliance Jungle (www.hrcompliancejungle.com) which publishes every Wednesday morning.

Like what you’ve read? Feel free to share, but please….. Give HerSavvy credit. Thanks!

 

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Building the Boat While Sailing It

When I began my human resources consulting business in 2011, I had limited experience running a business.  I am a lawyer so naturally I believed that I could become competent if I just did sufficient research. Research meant reading a lot of business books, a category I normally ignore on my to the history (specifically military history) section.

I knew I needed help after doing countless coffee meetings but closing few deals. So I began reading books about sales and marketing.  Two of my favorites in this category are Integrity Selling in the 21st Century, by Ron Willingham and Getting Naked, by Patrick Lencioni.  The gist of these books is that fairness matters and it’s important to focus on what the client needs.

That sounds obvious, doesn’t it?   A few months ago, I went to a meeting expecting to talk about how we could do referrals to our respective businesses. Instead, the other guy and his boss ran through a PowerPoint of their company’s brilliant services. They never asked about my priorities. They insisted on doing the presentation as they’d rehearsed it.  I’m still annoyed at them for wasting my time.

My biggest business challenge has revolved around money.  I witnessed incredibly poor money management skills while growing up. I was also raised in a conservative Christian community where money was denigrated as the root of all evil.  In a nutshell, I have lots of misconceptions and phobias about money.

To overcome this handicap, I read Drive, by Daniel Pink which explains that higher skilled workers value autonomy more than actual pay. I also read You Are a Badass: How to Stop Doubting Your Greatness and Start Living an Awesome Life, by Jen Sincero. Her book is hilarious, scatological and blunt. I’ve re-read her chapter on money phobias several times.   I found it more helpful than Think and Grow Rich, by Napoleon Hill.

At the moment, I’m reading Good to Great, by Jim Collins with my savvy women friends. The book explains the importance of getting the right people in the right seats on the bus so that a company can evolve into being great.  I enjoy our weekly discussions of each chapter because we are a diverse group with varying perspectives. It inspires me to become more creative solving challenges with my company.

I’m also reading Traction, by Gino Wickham, which I consider a companion piece to Collins’ book. Traction provides step-by-step instructions in honing a company’s vision, marketing strategies, and administrative processes so that it can become successful. I had a lot of the pieces discussed in Wickham’s book. Now I’m organizing them into a coherent format that can be understood by the rest of my team.

The learning curve in business ownership was steeper than I realized but I wouldn’t trade this journey for anything.  I’ll admit, though, that sometimes it feels like I’m building the boat while trying to sail it.

 

About Norma Shirk

My company, Corporate Compliance Risk Advisor, helps employers create human resources policies for their employees and employee benefit programs that are appropriate to the employer’s size and budget. The goal is to have structure without bureaucracy.

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Business 101: A Savvy Woman’s Book Club

Book Club

A few of us savvy women are currently part of somewhat unique book club. Rather than reading the latest bestseller, romance or historical fiction, we are reading a business primer of sorts, focused on learning how some major US companies grew into some pretty great ones. The book, “Good to Great,” by Jim Collins was written in 2001 and while some of the businesses profiled are no longer with us, the deep dive into the successes of these giants is proving to be both fascinating and moving.

The book details a multi-year study into 11 industry giants, which over a 15-year period, grew from being a good, solid business into a truly great company. Collins compiled a team of about 20 researchers who helped develop benchmarks against which to measure their subjects. They painstakingly defined the concepts of, “good,” and, “great,” compared the subjects to other similar companies, and what resulted is this book. It may sound dry, and I confess I was skeptical it would hold my interest, but to date I am about halfway through and I cannot wait to get to the next chapter.

One of the things that surprised me is how the characteristics, principles and practices that Collins and his team have uncovered in the great companies can be applied to most facets of life. Chapter Two, for example, looked at the five levels of leadership and defined what makes up each level. One by one, each member of our group began measuring herself against the top level and found herself coming up short. Our discussion that morning centered around how people in general and women in particular, judge ourselves harshly and often fail to see or acknowledge our own strengths and successes. The discussion led me to reflect on my own tendency to set a high bar for success and then when I don’t reach it, I feel like a failure. And this concept does not only apply in business. I can see it in my relationships with my children, my husband, friends and colleagues. I can see it in how I evaluate my own concept of success and failure.

The best part of reading this book, though, has been the group itself. Each of us has found something that resonates either personally or professionally and often, both. Our discussions are deep, funny, interesting, educational and sometimes frustrating, as we learn more about ourselves and our individual journeys. It’s exhilarating to be learning new things and facing new ideas in concert with others.

This savvy gal highly recommends you find a similar outlet. Books provide a springboard for so many wonderful discussions. Let us know your experiences with a book club or new experience. And if you haven’t already read it, try, “Good to Great,” by Jim Collins!

About Barbara Dab

Barbara Dab is a small business owner, journalist, broadcast radio personality, producer and award-winning public relations consultant.  She is the proud owner of Nashville Pilates Company, a boutique Pilates studio in Nashville’s Wedgewood/Houston neighborhood.  Check it out at  www.nashvillepilatescompany.com.  She is also the creator of The Peretz Project: Stories from the Shoah: Next Generation.  The Peretz Project, named for her late father-in-law who was a Holocaust survivor, is collecting testimony from children of survivors.  Visit http://www.theperetzproject.com.  If you are, or someone you know is, the child of survivors of the Shoah, The Holocaust, and you would like to tell your story please leave a comment and Barbara will contact you.

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Starting a Business: The First Year

Start_a_business_2_i

As many of you know, this past year I became the co-founder of a new Pilates studio business. It’s been a tremendous learning experience, as I’ve navigated a partnership, construction challenges in our space, working with instructors, clientele, etc. And now, another change is afoot. But, I’m getting ahead of myself.

Perhaps the most significant part of this process has been sharing this all with a partner who is also a good friend. Many people warned me of the pitfalls of working with a friend, but we plunged in nonetheless. We began with many frank, honest conversations about our goals, fears, strengths and weaknesses. After spending countless hours, gallons of coffee and some legal advice, we hammered out a written partnership agreement. As our lawyer said, hope for the best, but plan for the worst- case scenario. Oh, those lawyers! To date, I’d say our partnership is strong. We listen to each other. We support each other even when we disagree. We consult each other before making large decisions. We continue to share a common vision for our business. For me, the hardest thing has been separating our friendship from our partnership, and knowing when to change hats. My partner is someone I value and treasure and it’s been challenging to introduce the high stakes of owning a business. But, I have confidence that we have a solid foundation and will continue to grow as a team and that I will continue to grow as a business-person.

During the course of this first year, we have faced significant challenges with our physical space. Our historic building is being renovated and our ground floor location has been in the midst of a construction zone. We’ve had to create workarounds for heating and air conditioning, the bathroom is in rough shape and there has been constant noise, dust and other inconveniences. But through it all, we’ve managed to grow, albeit slowly, and we’ve worked hard to maintain our positive outlook and maintain our studio to our high standards. Our clientele has been supportive and appreciative, too.

But finally, and here’s the big news, a space has become available that is everything we have wanted from the beginning. In fact, it is a space that we’d eyed during our first visit to the building, but it was occupied. We have now snagged it for ourselves and at the end of the month, we’ll be movin’ on up! The rent is a bit higher, but within our budget, and we believe this new space will help us grow our business. It is in a completed section of the building and one with significantly more foot traffic. We will be in the midst of a more vibrant, creative tenant group and we are excited! I am also anxious about the increased expense, nervous about making the move work without interrupting business, the list goes on and on. But just as we took the leap last year to start this venture, I’m optimistic this will be just the thing to help us get to our next step.

So what’s the big takeaway here? I’d say to anyone thinking of starting her own small business, DO YOUR HOMEWORK! Take your time, write a solid business plan, get your financing in order, and most important, have your support team in place. We could not have made things work without the support of our families and friends. We also have a network of trusted advisors we consult regularly. My partner and I believe in community and in being a part of something bigger than ourselves. And that applies in business and in friendship.

About Barbara Dab

Barbara Dab is a small business owner, journalist, broadcast radio personality, producer and award-winning public relations consultant.  She is the proud owner of Nashville Pilates Company, a boutique Pilates studio in Nashville’s Wedgewood/Houston neighborhood.  Check it out at  www.nashvillepilatescompany.com.  She is also the creator of The Peretz Project: Stories from the Shoah: Next Generation.  The Peretz Project, named for her late father-in-law who was a Holocaust survivor, is collecting testimony from children of survivors.  Visit http://www.theperetzproject.com.  If you are, or someone you know is, the child of survivors of the Shoah, The Holocaust, and you would like to tell your story please leave a comment and Barbara will contact you.

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Happy Women’s Labor Day!

We Can Do It

Labor Day, 2017 is now past history, but just barely. So I thought I’d take a moment and reflect on how, or whether, things have changed for working women between the years my mom hung up her chalk as a young, pregnant schoolteacher, and this summer when my adult daughter, newly minted Master’s Degree in hand, began her professional life.

Most obvious to me is that my daughter is 30, several years past the age my mother was when she put her teaching career on the shelf. And while she has many friends who are already starting families, many more are right with her when it comes to delaying motherhood in favor of career. In an article published this past spring by CNBC, a US Census Bureau report found that in 1970, 80 percent of adults were married by age 30 while today that same number will marry by age 45. Indeed, my mother married in 1955 at 23 and I was married in 1979 at the tender age of 21. And although I am trying to be patient while awaiting the arrival, someday, of grandchildren, I wholeheartedly support my daughter’s focus on her education and career.

One of the most obvious changes, at least to me, lies in my daughter’s choice of career. She is passionately dedicated to the business of sports. In fact, she’s been a sports junkie all her life, participating in a wide variety of team and individual sports and being an avid fan. But rather than sit on the sidelines, she pursued both an undergraduate and a graduate degree that positioned her to pursue sports as a career. And she’s not alone in finding opportunities. Her current boss, also a woman, has moved through the ranks of leadership in college athletics and is still climbing. Admittedly, women continue to face significant challenges in the sports world, but the fact is, the door is open and women like my daughter are marching confidently through. Weigh this against the advice my grandfather gave my mother when she expressed a desire to attend law school, “Nice Jewish girls don’t become lawyers, you should be a teacher.” I was horrified when I learned this, especially since my grandfather had been a lawyer! In fact, a New York Times article from last year reported that for the first time, women make up the majority of law students!

It’s no secret that women’s pay continues to lag behind that of men. According to the Institute for Women’s Policy Research, women still earn 20 percent less than men. That’s despite the fact that women are half the American work force, are the sole or co-breadwinner for families with children and have higher education. So while we’ve “come a long way baby,” there is still work to be done.

I think the most significant change I’ve experienced is that women are finding their voice. Women of my mother’s generation were so often belittled, minimized and ignored. I still, occasionally, am ignored when I’m with my husband despite the fact that I am every bit as educated and intelligent and do most of the talking! But my daughter and her friends are forces to be reckoned with. Young women today have no qualms when it comes to speaking up for themselves, taking charge and expecting to have opportunities. We, their mothers, have prepared them for a world that includes them and in fact, needs them. Life is about change; some comes slowly and with great difficulty, some comes fast and furious. I believe today’s young women stand on some very broad (no pun intended) shoulders. Their burden is to continue the struggle, continue to raise their voices and to do what women do best, build bridges of opportunity for yet a new generation.

About Barbara Dab

Barbara Dab is a small business owner, journalist, broadcast radio personality, producer and award-winning public relations consultant.  She is the proud owner of Nashville Pilates Company, a boutique Pilates studio in Nashville’s Wedgewood/Houston neighborhood.  Check it out at  www.nashvillepilatescompany.com.  She is also the creator of The Peretz Project: Stories from the Shoah: Next Generation.  The Peretz Project, named for her late father-in-law who was a Holocaust survivor, is collecting testimony from children of survivors.  Visit http://www.theperetzproject.com.  If you are, or someone you know is, the child of survivors of the Shoah, The Holocaust, and you would like to tell your story please leave a comment and Barbara will contact you.

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Independence Day!

july-4-1

Independent:   a (1) :  not subject to control by others :  self-governing (2) :  not affiliated with a larger controlling unit an independent bookstore b (1) :  not requiring or relying on something else :  not contingent an independent conclusion (2) :  not looking to others for one’s opinions or for guidance in conduct (3) :  not bound by or committed to a political party. Merriam-webster.com

Hmmm…so, based on that, are we ever really completely independent? I suppose when it comes to the notion of being self-governing, then I would say as a nation, we are independent. And while some may argue that, given recent election events, we have been the victims of outside influences, we are theoretically still an independent democracy.

But what about the concept of not looking for outside opinions or guidance? I’m not sure I agree that independence means not being open to ideas or opinions different from my own. In fact, I would argue that true independence requires research, information gathering and an exchange of ideas. In the absence of such, aren’t we just living in a vacuum? In order to make informed decisions, to exercise my independence, I must understand the context of the world around me. And, I must filter the information in light of my own values and experiences. Indeed, my natural curiosity drives me to seek input from a variety of sources.

When it comes to my business, I am constantly seeking advice, gathering input from experts, researching new concepts and ideas, conferring with my partner. Am I independent? Well, in the Merriam-Webster sense I guess I am. I’m not subject to the control of other, larger entities. And yet, decisions are made based on all of the above. And the demands and responsibilities of business ownership often leave me feeling less independent than I’d like. But in the end, this form of servitude and endless engagement are of my choosing. I can stay and fight the good fight, or I can walk away.

So I suppose that is my true independence. The opportunity to chose my path, using the knowledge gained through hard work and research, integrated with my personal values and instincts and viewed through the lens of my life experiences. And while I may agree with certain elements of the dictionary’s definition, I believe independence comes from within.   Our nation’s history is filled with those with the drive to discover and innovate, and with the confidence to raise their voice against all odds to speak truth to power. Today, on this Independence Day, let us all remember those Americans, and pledge to do our part to exercise our own independence to further both our individual goals and the to fulfill the promise of our country. Happy Fourth, everyone!

About Barbara Dab

Barbara Dab is a journalist, broadcast radio personality, producer and award-winning public relations consultant.  She is the proud owner of Nashville Pilates Company,a boutique Pilates studio in Nashville’s Wedgewood/Houston neighborhood.  Check it out at  www.nashvillepilatescompany.com.  She is also the creator of The Peretz Project: Stories from the Shoah: Next Generation.  The Peretz Project, named for her late father-in-law who was a Holocaust survivor, is collecting testimony from children of survivors.  Visit http://www.theperetzproject.com.  If you are, or someone you know is, the child of survivors of the Shoah, The Holocaust, and you would like to tell your story please leave a comment and Barbara will contact you.

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When Should I Quit?

when-to-quit

I was raised to believe in perseverance and not giving up. Quitters were often labeled as losers who gave up too soon and therefore never achieved success. Think of childhood sports, like T-ball or soccer, where the coach and parents scream at the children to keep trying even when it is obvious their team can’t win.  No one wants to be a quitter.

The dilemma of whether to quit becomes riskier when one reaches adulthood. Adults who quit are often risking the loss of a job, ending a marriage, or losing money on a failed business venture. The emotional burden is much more severe than losing a kid’s game.

I’ve spent years of misery in jobs I hated before finally accepting the obvious fact that my values were incompatible with my employers. I’ve continued supporting ventures that sank faster than the Titanic because I didn’t want to be branded a quitter. But at some point, our “gut reaction” can’t be ignored. We need to accept that failure is probably the only realistic option.

Recently I’ve been struggling with the decision to quit a commitment I made less than a year ago. True to my usual form, I spent months stewing about it before I finally asked my trusted friends to help me decide what to do. They asked three questions.

  1. What goal am I trying to achieve? I joined an organization because I believed in their mission. Unfortunately, they were already in crisis and I realize now that I was recruited because I have skills that could help them resolve their problems.
  1. What support do I have to achieve the goal? I knew the answer to this question, but had been delaying accepting it. I lack support from the organization because key insiders are comfortable with the status quo and afraid of what change means for them personally. I can continue to suggest needed changes but my perseverance won’t change their resistance.
  1. What will I gain by quitting? Quitting would end the emotional toll of trying to change an organization that doesn’t actually want to change.

There is no bright line test to know when it is best to persevere and when it is best to cut one’s losses and quit.  Asking trusted friends or family for advice is a great starting point for making the final decision because their vision is not clouded by the emotional attachment that makes it difficult for us decide.

About Norma Shirk

Norma started her company, Corporate Compliance Risk Advisor, to help employers create human resources policies for their employees and employee benefit programs that are appropriate to the employer’s size and budget. The goal is to have structure without bureaucracy. Visit Norma’s website: www.complianceriskadvisor.com.

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The Other Side of the Couch – Starting a Business

business-plan

When I first began to contemplate the idea of becoming a therapist I was not even aware of the differentiations among the mental health professions; nor was I aware of what creating a private practice in that field would require.  One of the mentors I consulted told me that It would take ten years before I really felt seasoned enough to open a private practice.  I told myself that she was mistaken, didn’t really know me and my intellect and determination – but as it turned out she was right on the money.  I began my first degree in the field of professional counseling in 1980, and I started a private practice in 1990 – with lots of school, two degrees, work in social services in Massachusetts, and in community mental health in Nashville, in between.

As a seasoned professional counselor, well-grounded in my ability to serve clients, to diagnose and treat, to create treatment plans, to help clients navigate the changes that they desired, I was in a good position.  However, clinical expertise is not all that running a private practice requires.

Nowhere in the experience that I had accrued did any course address the issues of starting a business.  In fact, the idea that private practice was a business was actively discouraged.  We were taught to see ourselves as professionals with a calling, and to hold the idea of “business” with some degree of disdain.  To acknowledge that we were in business and that we hoped to make money to sustain ourselves and our families was regarded with condescension.

I noticed that the few men with whom I trained had less difficulty with this issue.   The women, however, struggled.  What to charge?  How much was fair?  How can I help those who are struggling financially and who yet need my services?  The idea of a business plan didn’t even exist in my consciousness.

What I have learned over these years in practice is that the positives of private practice – no boss, flexible hours, working as much or as little as one desires – do not make the other side of running a business go away.  As a solo practitioner, I am responsible for EVERY ASPECT of my business. My first duty is to my clients, with FIRST DO NO HARM as the central ethical mandate.  I run my own schedule.  I return all phone calls.  I keep up with best practices in my field.  I attend conferences and make sure that I use continuing education to stay current.  However, I also market.   I recruit business.  I manage online and social media.  I create websites (or hire having them created).  I am responsible for keeping up with paperwork, for interacting with insurance companies.  I clean the office.  I vacuum.  I take out the trash.  I buy supplies – all the way from insurance forms to paper towels.  I also manage the bookkeeping and everything related to paying taxes, from quarterly assessments required for solo practitioners to Schedule C profit and Loss statements for income tax purposes.  This means keeping excellent records of everything related to the business.

If you want to start your own business as a private practitioner, I recommend the following:

  1. Talk to someone who has been in successful practice for a while.
  2. List the pros and cons.
  3. Recognize your own strengths and weaknesses. Consider hiring others to do things that are not your strengths.
  4. Have a business plan, an attorney and a bookkeeper, at minimum.

Good luck!

About Susan Hammonds-White, EdD, LPC/MHSP:

Susan is a communications and relationship specialist, counselor, Imago Relationship Therapist, businesswoman, mother, and proud native Nashvillian. She has been in private practice for over 30 years. As she says, “I have the privilege of helping to mend broken hearts.”  Contact Susan at http://www.susanhammondswhite.com

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Finding Inspiration in Losses

soccer-panoramic

I am constantly searching for examples of how other businesses stay successful despite losses. Examples are everywhere, but one of my favorite examples is Southampton Football Club (Southampton FC).

Southampton FC is based (obviously) in Southampton, England and it plays in England’s top football (soccer) league, the English Premier League.  Each year the club loses their best players to rival clubs with more money to spend on acquisitions. Each year they lose their head coach (manager, in England) to rival clubs.

Any business that consistently loses its best performers would be expected to slide into oblivion.  Southampton FC temporarily appeared doomed to such a fate. In 2008, Southampton FC was bankrupt and demoted. They began the 2009/2010 season in the third tier of English football. (By comparison, the U.S. has two tiers of professional soccer.)

Then a group of new owners bought the club and initiated two key strategies. First, they brought financial stability with a cash infusion and a new team of experienced financial advisers to run the back office. Southampton’s problems were apparently rooted in poor financial practices.

Second, the new owners reinforced the existing corporate culture of the club. The club has a reputation for developing young talent. Their corporate culture requires everyone from the youth academy to the senior players to use the same system of training and learn the same game tactics or style of play.  That may sound like a no-brainer, but an amazing number of businesses try to change their corporate culture each time they choose a new manager.

Southampton FC hires managers (coaches) that fit their system. The corporate culture is so resilient that each year the manager changes and the top players are sold but the club remains competitive.  It’s called “the Southampton way”.

By the 2012/2013 season, the club had played its way back into the English Premier League and has finished in the top ten every year since.  Other businesses now regularly travel to Southampton to study the club’s business model.  Southampton FC’s four-year journey from loss to success is truly inspirational.

About Norma Shirk

Norma started her company, Corporate Compliance Risk Advisor, to help employers create human resources policies for their employees and employee benefit programs that are appropriate to the employer’s size and budget. The goal is to have structure without bureaucracy. Visit Norma’s website: www.complianceriskadvisor.com/.

Like what you’ve read? Feel free to share, but please… Give HerSavvy credit. Thanks!

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