Small and medium scale enterprises, contrary to common opinion, are the true employment producers in America. According to the US Bureau of Labor Statistics, businesses with less than 500 workers produced 64 percent of net new employment between 1992 and 2010.
Despite operating in a difficult business environment, these firms have managed to flourish. But how do you do it? The eQ Growth Methodology is described in this summary. It benefits both company executives and their staff, consumers, and communities.
The "Reset" initiative kicks off the eQ Growth Methodology. It's a difficult – but honest – assessment of yourself and your organization that helps you learn from the past, accept it, and go forward with a fresh determination to do better.
The technique then assists businesses in developing their story, holding themselves accountable, empowering workers, and committing to delivering a new customer promise.
Irrespective of the size of your company, its sector, or the state of the economy, you can expand. Let's get going.
Understanding Our Reality
Let's admit it: the economy is in rough shape. Society is more complicated than it has ever been. There seems to be an equal and opposite shortcoming for every new confidence we develop.
The Internet is a good illustration of this. It provides us the ability to extend company models and reach. Still, it also can separate us from consumers and divert our attention away from our objectives.
A good company leader understands these dynamics and the need to maintain a healthy balance. We must become more conscious and learn to accomplish more with less to develop regardless. It's past time to begin deleveraging and reinvesting significantly in our existing assets.
For the time being, this implies lower output and maybe lower expenditure. Still, our previous course is unsustainable, so this is critical. Those that excel at what they do and provide the most value to the market will be successful. Make certain that's you.
The Internet is incredible, but it could also lead to an excessive amount of distraction. Only those company executives who have the knowledge and skills to harness the Internet to its maximum potential – without enabling it to have bad consequences – will be able to thrive.
Understanding what inspires your customers and staff is an important element of satisfying them and motivating them.
According to research, what inspires people to be more creative is not more money. They need just enough money to concentrate on their job without worrying about money. Employers that wish to foster creativity should offer workers a fair salary and assist them in achieving three goals: autonomy, mastery, and a greater purpose.
- The desire to be self-directed in managing our time is referred to as autonomy.
- The drive to perform at a higher level is referred to as mastery.
- The purpose is the desire to make a positive difference in the world.
The eQ Growth Methodology
The eQ Growth Methodology is straightforward.
Restart by using the "reset" button. Recognize the past mistakes and make amends to propel your business forward with a new dedication to your employees, customers, and community.
Establish your company's narrative, explaining what you do and why you do it to clients and workers. A good corporate narrative conveys the firm's history and values, what it stands for, how it operates, and what it aspires to be to its employees and customers.
Strive to make your staff feel like important members of your team. They'll be the ones who live out your story...or not.
Employee satisfaction equals company development. At every turn, provide your customers a memorable experience. You acquire not just a nice customer who is eager to buy more from you, but also a client who is willing to excitedly suggest to others when you wow them.
Anyone in any organization can use this technique. Process, practice, and execution are all emphasized.
Community is another major driver of progress; relationships are the foundation of growth. If everyone in and around your company had a positive experience, they'd tell others.
Hit the Reset Button
Reset should not be viewed as an emergency flotation device for a firm but rather as a springboard for greater business.
It's a lot of effort, but it's well worth it. You analyze your shortcomings, establish a new standard, and hold yourself and your team to it.
Even when they truly want to change, the great majority of individuals find it impossible to do so. Many individuals dislike admitting that they were mistaken. They are unaware that they have the option to restart their lives by pressing the reset button.
To begin a new chapter, you must first reset.
It's really the ability to sacrifice everything on the line, eagerly and enthusiastically. Resetting entails releasing control and becoming vulnerable, as well as letting go of any limiting beliefs and moving ahead.
Reset is applicable at three levels of leadership:
- you as an individual
- as a member of a group
- as it pertains to your business
To begin, you must go through the procedure on your own. You must be prepared to make difficult choices and put yourself in a position to succeed regardless of the outcome.
The day you make your word a binding agreement between yourself, your team, and your whole organization is the start of reset.
- Recognize that awareness is crucial. You will find what you concentrate on.
- Expose the elephant in the room: be willing to go to the heart of the matter. Bring attention to the elephant in the room by shining a light on it.
- Surrender: Allow yourself to be vulnerable by surrendering. Acceptance, acknowledgment, and apologies are all good things to do. Accept full responsibility for your actions.
- Empathize: Make sure the other person feels appreciated and affirmed by empathizing with them.
- Terms and Time Frame: Define the new global order's terms and a timeframe for its implementation.
Here are five questions you must ask to shift your culture toward growth:
- What is truly important?
- What are our objectives?
- What is the most significant factor?
- Who else is interested?
Story – Start With Why
There seem to be two types of stories: those that we tell others and those that we tell ourselves. We trust what we read most of the time if our personal experience matches it pretty well.
When you tell people the narrative of how your firm was founded, you generate a sense of wonder, interest, and a stronger bond amongst all of the people in your organization's chain of relationships.
Then, if people's experiences confirm that tale continuously, you've created a relationship that's tough to break.
A good tale does not have to be about a company's prior accomplishments. It might also be about the company's future direction. It's a commitment to your company's two most valuable assets: your staff and your customers.
Consider some of history's most compelling leaders: Martin Luther King, Jr., Mother Teresa, Desmond Tutu, or Winston Churchill. They were dependable, committed, and had strong convictions about why they were doing what they were doing – and they told us stories about it.
Being with the why is the greatest approach to convey a tale. Once you and your organization understand your whys, you can all start telling your company's narrative effectively. We certainly know what we do and how we do it, but the issue of why is the enigma.
Make sure you understand how to integrate your personal whys. After you've figured out why your firm is here, the next stage is to piece together your personal narrative: who you are, why you're unique, and what you offer the world.
Then you must decide who you will do business with. Who are your clients? When people do business with you, what would they get? How does this assist them in achieving their goal?
Try doing a "25 Reasons Why" activity for your chosen profession. Why are you acting the way you are? There are no incorrect responses. Make a circle around your top three choices. Make your unique personal story as well as a business story that includes your reasons why.
Employee Experience – Make Them Feel Valued
If you provide an amazing experience for your workers, they will provide an outstanding experience for your clients.
Allowing your workers to do whatever they want or paying them a lot of money isn't the way to provide a fantastic employee experience.
There are more effective methods to make employees happy to work for you and your organization. There are seven "Cs" that will assist you in your endeavor.
Clarity. The very first thing your employees expect and appreciate is clarity. They have a right to know where the business is headed, what they're being asked to do, why they're required to do it, and how their work contributes to the firm's success.
Certainty. It's human nature to seek comfort. As a result, distribute it to your staff.
Compassion. Compassion demonstrates that you care about others and regard them as human beings rather than mere workers. Employees will feel good and improve their work if you show some compassion to them.
Consistency is divided into three categories: message consistency, communication method consistency, and action consistency.
When an employee comes to you with a question, you send out a clear answer. A strong and coherent channel of communication between senior leadership, managers, and employees is required for the technique of communication.
This might be anything as simple as a daily phone conversation, a weekly meeting, or a yearly town hall gathering. Walking the talk involves being consistent in your actions. Do you follow through on your promises?
Commitment. Your colleagues must believe that you are the most dedicated individual in the room. If your workers see you working evenings and weekends to achieve your objective, they will be more likely to do so as well.
Collaboration. When it comes to creating answers, collaborative leaders do not really mind who takes the credit — position and title are unimportant.
Community. This is about acting with a higher goal in mind for the larger benefit. You will advance more as a team if you allow your team to share in those positive sentiments.
A Remarkable Client Experience – The Unconditional Guarantee
The perfect client experience starts with a mindset that unites all workers in a never-ending quest to ensure that every client receives exactly what was promised.
There are three different levels of excellent customer service.
- You'll be able to satisfy the client's expectations.
- You can surpass them.
- Alternatively, you may make their experience unforgettable.
In today's economy, simply satisfying a customer's demands is not enough to ensure a long-term connection or referral business. You must be extraordinary if you want to develop regardless.
Here are steps you take to begin offering exceptional customer service:
- Thank your customers. Making such a personal connection with a customer is something they will remember for a long time.
- Recommend your clients: Have a well-thought-out message on their LinkedIn profile or Yelp page. They will regard you as a trusted adviser and true partner once they learn how much you know about them.
- Teach your customers: It doesn't have to be company-specific knowledge; offer whatever you think they'll find beneficial. Get involved in your clients' lives by attending activities that are important to them. Demonstrate that you care about them by making time for them.
You Can Do It
This synopsis provides a thorough blueprint for how a company or organization may develop regardless of the circumstances. Still, it ultimately boils down to individuals stepping up and being the best they can be.
Only one thing will ever stand between you and success: you. So, accept the challenge and grow regardless.