Business in Action Issue 06

As leaders in business, constant self-ref lection is critical to ensure that we and our businesses are always self-aware of where our strengths and our weaknesses lie. It's about staying ahead of the game, optimizing our chances of success, and reducing the headwinds we can sometimes face.

At 4xi, we believe in the importance of this process throughout the business life c ycle, from our TRUE NORTH© methodolog y, to win better, retain better business. Our MarketMatch© approach to identif ying Ideal Client profiles and identif ying strategic partnership opportunities where we not only sur vive but thrive is an important formula of success.

There are plenty of businesses that do customer ser vice well, and we all know their names because customer-ser vice-dri ven businesses quickly rise to the top of their industries.

Through Evolving Experiences© we focus on the Human Experience of customers, consumers, and employees and how we can drive effective attraction strategies, engagement, and elevate all our stakeholders to being advocates, ambassadors, even evangelists of our brands.

In this issue, learn why you need to put customer ser vice at the forefront of ever ything you do if you want your organization to be the next Disney, Nike, or Apple

We do hope you enjoy this latest issue of Business in Action, and we look for ward to connecting again soon.

Simon Elliot, Bar bara Boden

Managing Par tner s and Co -Founder s

ENTREPRENEUR

3 | The Benefits of Toastmasters International

Learn how this organization can help you become a better leader.

ENTREPRENEUR

4 | The Power of Resilience

A pair of professionals share how they overcame serious challenges.

SALES

8 | Avoid These Common Sales Mistakes

There are six reasons why a sale may fail and your client list isn’t growing.

PUBLISHER

Chief Executive Officer Steven Acree publisher@remindermedia.com

EXECUTIVE

President Luke Acree

Chief Marketing Officer Joshua Stike

Chief Operating Officer Michael Graziola

MARKETING

Director of Marketing Dan Acree

Director of Creative Services Kristin Sweeney

Director of Content Jessica Fitzpatrick marketing@remindermedia.com

EDITORIAL

Editorial Manager Alexa Bricker

Senior Editor Matthew Brady

Senior Layout Designer Elisa Giordano

Junior Content Writer Allison Gomes

Content Writers Lauren Kim, Bonnie Joffe, Andre Rios editorial@remindermedia.com

SALES AND CLIENT SUCCESS

Vice President of Client Success Ethan Acree

Vice President of Operations Nicholas Bianco

Vice President of Sales Michael Campanile hello@remindermedia.com

OPERATIONS

Vice President of IT Thomas Setliff

Director of Projects Kelsie Schmall

Director of Business Intelligence Daniel Gallaway

Director of Manufacturing Shannon Mosser

Vice President of Finance Shana Lebofsky

Director of HR John Keogh hr@remindermedia.com

NO PART OF THIS PUBLICATION MAY BE REPRODUCED WITHOUT THE EXPRESSED WRITTEN CONSENT OF THE PUBLISHER.

This magazine is for information and entertainment purposes only; it is not an attempt to solicit business.

The contents of Business in Action are for editorial purposes only. All photos and/or artwork in Business in Action are provided by Getty Images, and icons by Noun Project, unless noted.

The Benefits of Toastmasters International

Toastmasters International is a global organization that helps business owners and entrepreneurs develop their communication, public speaking, and leadership skills.

OMMUNICATION PLAYS

a central role in the success of a company, and, as a business owner, you must communicate with your employees, investors, and consumers to help your company grow. But communication is a skill that needs to be developed to fit with your business’s vision and mission. One organization that can help you become a more effective communicator and leader is Toastmasters International. The organization’s 2022-2023 international president, Matt Kinsey, explains more about Toastmasters and how a membership can benefit you and your business.

What is Toastmasters International?

Toastmasters International is a nonprofit educational organization that teaches public speaking and leadership skills through a worldwide network of clubs. Since 1924, we have helped millions of people from diverse backgrounds become more confident speakers, communicators, and leaders.

How does one sign up?

Everything in Toastmasters revolves around the club. Most people can find

one near them, and they typically have around twenty members who meet once a week for an hour. A prospective member can join by simply visiting one of our more than 14,000 clubs worldwide, where they can fill out an application form and pay the $45 membership dues plus a $20 new member fee.

Why should leaders join?

Business owners and entrepreneurs join Toastmasters to improve their presentation skills and leadership skills and to network with other members who have similar interests and backgrounds. In addition, more than half of the 2021 Fortune 500 companies offer in-house Toastmasters clubs to help build and improve their employees’ communication, leadership, and publicspeaking skills. Offering a corporate club to employees is an attractive and cost-effective way to grow and develop vital interpersonal skills in the workplace, such as critical thinking, problem solving, and teamwork.

Joining Toastmasters helps people achieve their personal and professional goals by giving members the skills and confidence they need

BY ALLISON GOMES

to effectively express themselves in any situation. Some of the benefits members report include:

Improved public-speaking skills and leadership skills

Working on networking in a small and supportive environment

Building self-confidence and self-awareness

Practicing writing speeches and presenting in a group setting

Gaining a competitive advantage in the workplace

Whether you are a tenured manager, student, young professional, someone looking to advance your career, or someone hoping to make an impact in your community, Toastmasters is the most efficient, supportive, enjoyable, and affordable way of gaining great communication skills. n

For more information, visit www.toastmasters.org.

The Power of Resilience

A pair of business professionals illustrate how important resilience is to success. BY

MATTHEW BRADY

T’S BEEN SAID that true character isn’t revealed in public but in private: in what you do and say when nobody’s watching. The same is true about good times and difficult ones. Anybody can be happy when things are going great, but it’s during tough times—when things are most dire—that strength and resilience are found.

Most business owners can relate to this. You likely know, either from personal experience or shared experiences, that a company’s struggles can be totally self-inflicted or random. The common thread is having a steely will to overcome them, as these two stories convey.

Stephen Acree

Stephen Acree, a real estate agent and owner of Acree Brothers Realty in Lynchburg, Virginia, was riding high with his new business when disaster struck: four of his agents, including his top three, quit. He reveals how that lead to soul-searching and a new business approach.

I had a great plan, or so I thought. I was determined to bring on fifty agents to help change their lives and live their dreams. But in 2021, it all blew up in my face.

By the end of the year, four of our eight agents had moved on—and three were pretty heavy hitters. As a business owner, there are plenty of times that you just want to cry in the corner. In this case, we had recently purchased our first commercial space, so we were branching out a little bit on our own. I had just gotten married. My wife kept telling me, “You’re working too much,” and yet my business was falling apart. Everything pretty much crashed down at once. I can’t tell you how heavy the weight felt at that time; it was crushing. Honestly, I wondered if it was worth the pain I was going through.

To fix things, I went back and asked myself, “What do you actually want in

life?” That gave me clarity. Also, in such situations, a victimhood mentality tends to creep in for everyone. What helped me overcome that was honesty. Instead of blaming the people who left or my circumstances, I just admitted that everything that happened was my fault.

By doing so, I created the capability of fixing the mistake—if I created the problem, then I could find the solution. So what was the problem? We had become way too systems-heavy and had veered off on the wrong mission. Or, specifically, I had cast the wrong vision for the team. I had gotten so hyperfocused on that number—fifty agents—that I left the team feeling like it wasn’t about them but all about the mission of the fifty. So I focused on emphasizing what produces, and that

solved the problem. In all, it was only three months of painful recovery, but at the time it seemed to last forever.

Today we’re kicking butt. We have sixteen people on our team, and our vision is to impact as many agents’ lives and create as many six-figure producers as possible. This improved vision statement has also trickled down, as some agents are sending referrals for other agents who should be on our team. Repeat and referral business is stressed; it’s where 80 percent of your business is going to come from. Most of all, it’s about a glass-half-full mindset, especially in real estate: you should never look at what’s being taken out of your pocket but always look at what’s going into your pocket and be open to learning— especially about yourself.

We have sixteen people on our team, and our vision is to impact as many agents’ lives and create as many six-figure producers as possible.”

Matthew S. Newman

Matthew S. Newman, a senior VP of financial services, four-time TEDx speaker, author, and motivational speaker, had a far different challenge: a brain cancer diagnosis at thirty-nine. Here he discusses what he learned about life and himself and how it applies to business relationships.

I got into a car accident in 2013. The police advised me to go to the hospital, but being a type A personality, I chose not to. However, after having eleven episodes of stroke-like occurrences in the following weeks, I finally went to the hospital. At age thirty-nine, I was told I had brain cancer.

They put me in my bed and hooked me up to countless machines. I just started to cry.

If you have brain cancer, you’re going to die. I started being retrospective of my life and thinking of my wife and kids. I started cursing my brains out and was ready to fight! That was it for my pity party. I immediately understood what true strength really was. It’s not how big your arms are or how much you can bench-press. It’s something deep down in your belly, and you can find it, grab it, and own it. At that moment, I had no doubt I was going to beat cancer.

As a financial wholesaler, I believe the job of the financial advisor is to be there when things are bad, to give people good news during difficult times, and to have a plan in place in advance of the bad. It was time to make sure I had everything in place. I checked my will, POA, life insurance, and other financials. Nothing financially would

Brainstorm for ten to fifteen minutes to assess your resilience, and then jot down ideas for strengthening it to help better your company.

As a financial wholesaler, I believe the job of the financial advisor is to be there when things are bad, to give people good news during difficult times, and to have a plan in place in advance of the bad.”

put my family in a difficult situation that I couldn’t fix. It’s not about just the investment; it’s about filling out basic legal documentation so you can take on the battle in front of you and not leave behind a horrible situation for the people you love the most. In short, it removes the angst of would’ve/could’ve/should’ve for everyone. After all, cancer doesn’t care about your long-term plans or what you’re doing tomorrow.

I also learned that the greatest life lessons happen in the deepest and

darkest of times. You’re given a gift: a new perspective to see things through. When we’re young, we all have this Teflon feeling, as if nothing can happen to us. Sometimes we need the challenge of life-altering events to see life through a new set of lenses.

It can also strengthen relationships. I would write emails about my newfound perspective and appreciation of life as a catharsis for the fear and anxiety that accompany cancer. The feedback was unexpected and humbling, so I decided to write a book about my experience with brain cancer called Starting at the Finish Line. I had no marketing plan, no ghostwriter, and no publisher. I did it for me. And it became a bestseller. It validates that people who have taken on unasked battles find support in knowing they’re not alone on their journeys. Within weeks of the book coming out, I was connecting with people around the world on social media.

Similarly, business is all about relationships. I’m not talking about superficial ones, such as giving out tchotchkes. Through business, we all have a unique opportunity to inspire others, grow optimism, and connect deeply with people.

But as important as business relationships are, they pale in comparison to family. My fatherin-law, who was battling pancreatic cancer when I was diagnosed, was an inspiration to me. My wife was (and still is) a rock—she took care of me with brain cancer, her father with pancreatic cancer, and three children under five. I am honored to be her husband.

Most of all, I appreciate living in the moment and appreciating the now . Our most valuable asset is our time. Whatever we waste we can’t get back, and we only have a finite amount of it. n

I also learned that the greatest life lessons happen in the deepest and darkest of times. You’re given a gift: a new perspective to see things through.

Avoid These Common Sales Mistakes

Check your sales processes against this list of common pitfalls. Could these six mistakes get between you and higher sales rates?

BY ANDRE RIOS

A sale is almost always a human-to-human process, even when your client is another business. This means that it can be difficult to reduce sales assessments to mere data points. However, because sales are so personal, they are also prone to human error. Here are six important ways your sales team might be missing out on deals.

Not qualifying a prospect

First, it’s important to remember that not every prospect who approaches your company is qualified. They may be undereducated about your service areas, what exactly you sell, or even their own budgetary constraints.

Early in the sales process, be sure that your salespeople are asking questions that qualify prospects. For example, ask, “Why don’t you tell me a bit about your

company’s goals?” Otherwise, you’re wasting payroll hours chasing dead ends.

Not knowing the value proposition

A crucial aspect of making a sale is understanding just what you’re selling. This goes beyond knowing stats about products or your company’s history; you must understand the value proposition behind what you’re selling. In fact, many people are willing to overpay for products and services if they are emotionally attached to them or the value exceeds the price in their minds.

Why exactly would a client be interested in—and even need—what you sell? What common pain points does your company solve? Answering these questions is an integral part of a good sales strategy.

For example, a magazine subscription service should speak to health care professionals with the knowledge that entertainment is their main value proposition. Patients need entertainment to endure long lobby wait times, which their magazines can help address.

Reading a script

Many salespeople over-rely on a process that has led them to success, like a script, and end up losing control of too many conversations. After all, no sales pitch will

follow the same path every single time, no matter what a sales flow chart may indicate. Any experienced salesperson will agree that few questions receive a solid “yes” or “no” answer.

Relying on proven phrases, like a well-written value proposition, isn’t necessarily detrimental. In fact, many salespeople depend on a bulleted list of phrases or points they need to hit in every call. However, nobody likes speaking to a robot. Remember that a script is best utilized when memorized and adapted to the prospect’s perceived communication style.

Early in the sales process, be sure that your salespeople are asking questions that qualify prospects.

Not following up

Almost half of all salespeople give up after just one attempt at following up with a prospect. However, the sales consulting firm Marketing Donut also found that 80 percent of sales happen after the fifth touchpoint. So many salespeople give up early, miss out on deals, and even become discouraged. Your best salesperson is often not the most talented but the most persistent.

Be sure to follow up for referrals. Referrals are far more likely to convert to clients than cold calls. In fact, a BNI.com survey found that 73 percent of companies polled get most of their business from networking and referrals.

Not closing the deal

Don’t hold back when it’s time to get a credit card number. Salespeople can deliver an amazing pitch and still fail to make a crucial leap: asking for the

prospect’s business. If you have kept a prospect hooked long enough to communicate the price of a product or service, assume that you have earned the right to request an order. The worst that will happen is they will say no.

Remember that “no” isn’t the end of the road. Declined or delayed offers give you the opportunity to uncover and handle any objections you may have missed throughout

the sales process. Outright declined offers can also transition into a referral request.

Not communicating to the individual

Remember that productivity apps and automated phone lines don’t accept deals; people do. Individuals are far more likely to accept deals

from people they like, respect, and even find enjoyable to talk to. As sales coach Shiera O’Brien suggests, “If clients feel and believe they have a relationship with you, it’s because of your rapport-building skills. At that point, the trust begins to build and they will commit time and effort to you.”

Also, stats don’t sell products or services as well as stories do. Communicating with a compelling voice and even personal experience helps prospects visualize themselves in possession of your product or service, which is a hook any good salesperson can tug on.

Review

It’s unreasonable to expect every contact to end in a sale. However, even if there is no such thing as a foolproof pitch, bear in mind that these six mistakes can terminate winnable deals. n

these six pitfalls with your sales team. Where can you make improvements? Share this list with each salesperson so they can assess their techniques as well.

Salespeople can deliver an amazing pitch and still fail to make a crucial leap: asking for the prospect’s business.

How to Excel at Customer Service

of Cinderella Castle, a “Disney cast member will come out of nowhere and take the photo for you,” he notes.

OTHING DRIVES SUCCESS LIKE a happy client. Customers who enjoy communicating with your company are likely to keep doing business with you and buy your products and services, while those who don’t may not return. The good news is that providing exceptional customer service can be easy if you hire the right people, listen to your clients, and make a consistent effort to make them happy.

Improve the journey

If your clients have a bad experience at any point, your relationship could be damaged permanently. The key to pleasing your clients instead is mapping their customer service journey and investigating where you can improve their experience before, during, and after the sale. Finesse every touchpoint with your customers for a smooth and pleasant experience, and go the extra mile. For instance, at Walt Disney World in Orlando, Florida, every staff member, even a high-level one, is expected to pick up litter to keep the park clean, says John Formica, a former Disney executive and author of the book Making the Customer Experience Magical Now!. And if you stop to take a family photo in front

Think of ways to improve the experience for your customers. For instance, if you are a real estate agent, buy pizza for your clients on move-in day or offer referrals for service professionals in the area. After the sale, use your CRM platform to nurture your relationships by sending emails or postcards with useful tips and information. Formica emails his customers a Magic Minute newsletter, in which he includes helpful strategies for his customers. “You just give, give, give, and then out of nowhere, you’ll get a phone call,” he says. “Many businesses put a lot of time, money, and effort into trying to get the sale, but it becomes a waste if they don’t provide an exceptional and memorable customer experience.”

Boost your company culture

Believe it or not, your business’s culture can have a big impact on your customers’ happiness. If you have unhappy employees, that unhappiness can spill over into your customers’ experience. You can tap into how your employees are feeling by encouraging them to use an anonymous suggestion box or asking them to participate in engagement surveys to gauge their thoughts

Many businesses put a lot of time, money, and effort into trying to get the sale, but it becomes a waste if they don’t provide an exceptional and memorable customer experience.”

-JOHN FORMICA

Customer experience is the lifeblood of every business. Here’s how to ensure yours creates raving fans.  BY LAUREN KIM

and feelings. Also, when taking on new staff, try to hire personnel that already fit in with your company culture. “Most businesses hire people and then try to mold them to fit the culture during the onboarding process,” Formica explains. “It’s like taking a square peg and putting it in a round hole, and it doesn’t fit. You have to hire for culture.” To identify employees who are likely to embrace its company culture, Disney screens potential hires by showing them a training video that features their highly customer-centric focus, and some people leave before even filling out an application. “If you want your company to be customer-experience oriented, you have to hire people who believe in that,” Formica says. Once you get the right employees, you also must provide the best training to achieve the results you want. You’ll get better results if you model the behavior you want from your employees and consistently hammer home your culture, vision, and goals.

Reward loyalty

Many companies that have extremely loyal fans, such as Disney, Starbucks, and Sephora, have customer-loyalty programs that reward them with discounts and perks for repeat business. That’s because such programs can make your customers feel recognized,

add value to their experiences with your company, and distinguish you from your competition. Mull over how you can reward customers for their loyalty—perhaps you can give them extra discounts, provide them with exclusive access to new events or products, and celebrate their birthdays with special perks. Just about anyone would appreciate being an “insider” with a brand or company they love and respect.

Provide excellent customer support

Even if you do everything you can to provide your customers with the best possible experiences, there will be times when they will want to get in touch for assistance or to voice

Take Action

a complaint. So it’s a good idea to build the most effective customersupport infrastructure possible and offer several ways for your customers to reach out, whether it’s via email, social media, or phone. You should also willingly listen to your customers’ feedback, respond to their inquiries promptly, and take quick and active steps to remedy mistakes or dissatisfaction. n Map your customers’ journey, and take steps to make it the best experience possible for them.

Mastering Communication in Business

Knowledge is power, and having self-awareness of other personality types can help you communicate better and be more persuasive in your business interactions.

BY BONNIE JOFFE

S A BUSINESS PROFESSIONAL, understanding your and others’ personality types can be a game changer when it comes to interacting with potential clients, business associates, peers, and management. As you begin to appreciate how communication styles can differ based on someone’s view of the world, it can help you connect with them in more meaningful ways.

Identifying personality types

Many personality-assessment tests interpret individual traits based on what motivates people and influences the way they interact with others.

One such personality-profile model is DISC, an acronym for four primary personality traits: dominance, influence, steadiness, and conscientiousness. Taken by millions worldwide, this tool has helped business professionals, employers, and employees to improve communication and interactions with others, be more productive in the workplace, and maximize teamwork.

Some companies that utilize DISC (or DiSC, as publisher John Wiley and Sons spells it) suggest taking these three steps to help you quickly identify one’s personality type: observe, assess, and recognize (OAR).

1. Observe: Pay attention to how a person expresses themselves, what they enjoy talking about, and their tone of voice. Just as important, observing a person’s body language can tell you a lot about them.

2. Assess: When you have spent enough time in a person’s company, you should be able to assess behavioral patterns. For example, are they reserved, speak in a quieter voice, and have minimal eye contact, or do they have an outgoing temperament, a louder voice, and hold eye contact?

3. Recognize: About 80 percent of people reportedly have a blend of more than one personality type, but one typically tends to be stronger than the others. Once you have a fairly good idea of someone’s personality, you can begin to identify their specific personality type.

Communication styles of different personalities

Creating a good impression when meeting someone for the first time can be challenging; being able to identify someone’s personality type to make an immediate connection is rarely easy.

However, with practice, a critical eye, and attention to detail, you can start recognizing various personality styles effectively.

D: (Dominance)

D personality types are very direct in their communication style. They often state their opinions as facts and may interrupt a conversation when they’re bored or frustrated or if it’s not going the way they want it to. Also, when communicating with a D-trait personality, be clear and concise with your messaging— be prepared and organized with your objectives for what you want to

Creating a good impression when meeting someone for the first time can be challenging; being able to identify someone’s personality type to make an immediate connection is rarely easy.

accomplish during your meetings. Avoid engaging in unnecessary chatter since they are turned off by inconsequential conversations.

D personalities are also task-oriented and problem solvers who thrive on seeing concrete results. They value competency, are goal-driven, and tend to focus on the big picture. It’s important to acknowledge their point of view even if it’s different from yours. Stay confident and focused, and ask a lot of questions to better understand their motivations and business goals.

I: (Influence)

People with this personality type flourish most by pursuing and building relationships and are most content when they connect with someone on an emotional level. They are socially driven beings who are talkative, optimistic, and persuasive with their upbeat energy and warm demeanor.

For best results with this personality type, provide suggestions on how to plan, organize, and execute a project or task. It’s best to stay focused on the excitement of a project rather than presenting them with a lot of facts and figures. Once an “I” personality is energized by an idea, they will want to implement it as soon as possible. They value collaboration,

so supporting them in the execution of a particular venture will help you build a positive business relationship with them.

S: (Steadiness)

The S personality thrives by working in a highly collaborative, harmonious environment where a win-win outcome is the ultimate goal. They value sincerity, cooperation, and loyalty, so when getting to know an S, show genuine interest by engaging in personal conversation rather than just rushing in with your business agenda.

To effectively communicate with an S and gain a clear understanding of what motivates them, ask specific questions and listen carefully to what is being said. Be sure to present your information logically, allowing them time to absorb it on their timeline. They like being in control and do not want to feel pressured to immediately respond or make a business decision since they generally like to take their time before giving a definitive answer.

C: (Conscientiousness)

C personality types are analytical and investigative by nature. Coupled with their superior planning skills, they generally drive high-quality outcomes. They are perfectionists, disciplined, and diligent in accomplishing tasks,

and they think objectively rather than emotionally.

When meeting a C personality for the first time, be mindful that they communicate in a direct, more formal manner and are motivated by accuracy and deadlines. Therefore, when communicating with a C, be sure to quantify your or your company’s successes with data they can verify and measure. In addition, they value diplomacy, so if you are not in agreement with their assessment of a particular business issue, substantiate your view with facts and testimonials from trustworthy sources.

Understanding how clients, colleagues, and peers prefer to communicate can positively impact your relationships in the workplace and lead to better business outcomes. With practice and increased self-awareness, you’ll more easily identify different personality types and excel in the art of interpersonal communication. n

Take

Consider taking your own DISC personality test to identify your communication style.

Business Blacksmithing

Craftsman NICK WICKS MOREAU discusses how he turned a centuries-old craft into a thriving twenty-first-century business, Wicks Forge.

BY MATTHEW BRADY

WHAT LED YOU TO BECOME A BLACKSMITH?

I’ve always liked working with my hands. When I was younger, I did woodworking with my father, who was a carpenter. Later, I was going to grad school in Scotland for an economics degree but knew I wanted to also have a creative outlet.

I discovered that blacksmithing is still popular in Europe, so I found a blacksmith I wanted to work with named Jim Whitson, who was doing incredible work. I had never done any forging before, so it was great to learn from one of the top blacksmiths in the world about how to run a shop and create pieces.

WHAT HAPPENED WHEN YOU RETURNED HOME?

I figured it was a fun experience but that I would get a “real” job. However, my grandfather, great-grandfather, and great-great-grandfather had all been metal workers. I started cleaning out my grandfather’s garage, and I found his father’s anvil and tools. I knew that if I built a forge, I could be a blacksmith. I used most of my family’s tools and started working out of that garage.

HOW DID IT BECOME A BUSINESS?

I made things to sell, but the business wasn’t profitable. I was broke, saddled with student debt, and had to do something, so I got that “real” job working in New York City. Right after I did, my business started growing. I was working in New York during the week and then going to Connecticut on weekends to fulfill orders.

My big break came when I was featured in Popular Mechanics. Suddenly, I was getting publicity and people were connecting with what I was doing. A few years after that article ran, I relocated to Maine. That’s when the business started really expanding because my shop was in my home, which helped with overhead costs. For the first three or four years, all the money I made went right back into buying tools and equipment, and I hired my first-ever staff.

I’m always thinking about the customer. I think the trap sometimes for craftsmen is we get overexcited about the process. But you must separate what you think is interesting from what a customer does.”

HOW DID COVID-19 IMPACT YOUR BUSINESS?

COVID hit right after I started hiring in 2020, and this was now my only job—talk about stressful. Plus, about 80 percent of our business for the year was slated to be in-person sales at craft fairs, and that got wiped out.

Up to then, we had sold items on Etsy but not much on our website; it was just supplementary income that I never really gave much attention to. Fortunately, a college friend who had worked in the startup world took a crack at redoing my website to create an online business model, which helped us quickly transition to doing online sales.

Despite losing all of those in-person sales, pivoting not only helped cover the losses from COVID but also springboarded us to growth. Our revenue doubled the next few years.

DO YOU PREFER TO CRAFT A FEW, EXCLUSIVE PRODUCTS FOR LARGER PROFITS OR MANY PRODUCTS FOR THE MASSES?

I don’t come from a wealthy background, so I’ve always felt that everyone should have access to nice handmade things. In fact, as we’re talking, I’m using a mug that a friend of mine made; using it daily brings joy to my life. So our approach has always been “How can we make things that are handmade, affordable, and accessible?” In addition, as the business has grown, I’ve been delegating tasks so that designs are not just dependent on me— other people can come in and contribute.

We now have a product line that we can produce at a relatively high volume. We’re still creating each piece one at a time, but we can make dozens or hundreds rather than five, so we can scale up production. And working very efficiently and in production runs brings costs down.

We’re positioned within the handmade market. However, I think our products, from a design perspective, are equally as good, if not slightly better than our competitors’ but at a price point that’s often lower. That makes it easier for people who want to have a handmade aesthetic to say yes to buying our product rather than, say, something similar at Pier 1 Imports.

HAVE YOU HAD ANY BUSINESS FAILURES? IF SO, WHAT DID YOU LEARN FROM THEM?

Because of our online model, we know how many sales we do each week, and that covers our general operating costs. But there’s a process for the products. For instance, 2021 was the first year we started offering barbecue tools such as spatulas and pokers. I had a design that I was excited about, and it did well, but we were always sold out because we couldn’t make them efficiently—they were timeintensive. We all got burned out, and the pieces weren’t very profitable.

That was a big lesson: it’s not just about making something that looks cool. From step one, as I’m designing a piece, I must think about how repeatable the process is: can we make something that looks consistent regardless of who’s making it? And can we make it efficiently at a high volume?

I had to throw away those original designs. But in 2022, we came up with a new barbecue tool line that’s much more costeffective to make at a larger volume. It’s a design we’re still very proud of, and it’s more profitable and sustainable on our end.

IS PROFITABILITY MORE DIFFICULT WITH SMALLER PRODUCTS?

I think there’s something to that. On the lower end of the price market, we’re competing against everyone who has a backyard forge and has learned how to make a bottle opener. The competition drives the price lower, so I don’t want to spend our time making fancy bottle openers because you can get a bottle opener anywhere. So for our lower-priced items, we focus on things that are well made yet that we can do at a high volume and offer them at competitive prices while being profitable.

I’m always thinking about the customer. I think the trap sometimes for craftsmen is we get overexcited about the process. But you must separate what you think is interesting from what a customer does. Our few higherend pieces are on the lower end of profitability because there’s no way to automate their production—we must bend each piece one at a time, we can’t do high volume, and there’s a production run of ten.

WHAT DOES HANDCRAFTSMANSHIP MEAN TO YOU AND YOUR CUSTOMERS?

A blacksmith used to be a fixture of the community by necessity. Hardware stores didn’t exist, so you got your nails, tools, and garden equipment from a blacksmith shop. Today there are other options, so a town doesn’t need a blacksmith anymore. But there is still a need for the handmade aesthetic. It’s awesome to use something that’s handmade versus something that you can’t develop a personal relationship with.

That’s something that’s missing to a large extent today. People don’t have a direct connection to their food or their material objects, and, in building this business, I want us to bring back that mindset of the relationship between where things come from and the end user. There’s value in that.

I find that people are always excited to meet a blacksmith, which shows that there’s an interest in these historic trades. It shouldn’t be that big a deal, though. I’m extremely proud of our small business and how we’ve been able to grow. But from a business and market perspective, I want us to be a model for producing inexpensive handmade pieces—and not just survive as a business but thrive. I hope that, over time, we’ll be a good example of how not just blacksmithing but handmade products overall can be affordable and sustainable and not such an outlier.

WHERE DO YOU SEE HANDCRAFTED-PRODUCT BUSINESSES LIKE BLACKSMITHING HEADING?

I’d like to see this upward trend for quality handmade products continue and small businesses continue to innovate ways to bring affordability into the handmade market.

And I’d to see blacksmithing become relatively normal again; someone shouldn’t have to go on a crazy Scottish journey to get into this profession. In fact, one of the things I’m proud of is opening our business to let folks immediately make a wage doing blacksmithing. They learn a foundational skillset while contributing to this business, and they can use it here or at another shop or to start their own business. I’ve seen several young people come through the shop and continue their journeys as craftspeople and individuals. It’s been a cool small-business success story in that sense. n

Why You Need an HR Department

A human resources department can help your company recruit and retain the best talent and reach its goals.

BY LAUREN KIM

F YOU OWN A small business, you might not have a human resources department and instead perform your company’s HR functions yourself or delegate these responsibilities. However, despite the associated costs, having an HR generalist and related staff in place can be quite beneficial.

The functions of an HR department

You can outsource some HR functions, such as payroll, benefits administration, and legal compliance, to a third party, but your employees may prefer interacting with in-house HR staff more than with an outside company. Also, your business may be one client of many if you outsource your human resources functions, so you and your employees may not get all the attention you need.

By providing your employees with a good mix of benefits, explaining them, and managing them smoothly, HR experts can provide peace of mind for your staff and boost retention.

Here are just some of the important tasks a human resources department can handle for you.

Talent acquisition and retention

Acquiring the best employees, which typically requires activities such as posting job openings, screening and interviewing applicants, performing background checks, and onboarding new hires, can necessitate a lot of time and effort. While you might want your managers to also participate in this process, having an HR team perform these tasks won’t unduly overload your management staff and hinder their productivity.

Payroll

Some companies may relegate the issuing of paychecks to a finance department, but a human resources department can handle other payroll-related tasks like salary increases, bonuses, and time off. Your human resources department can also help create a

compensation structure for your employees and ensure that their wages are competitive within your industry so you can attract and retain the most talented employees.

Benefits administration

Your staff is one of your best resources, and employees may value their benefits, such as health insurance and retirement accounts, as much as their pay. By providing your employees with a good mix of benefits, explaining them, and managing them smoothly, HR experts can provide peace of mind for your staff and boost retention.

Employee development and training

Onboarding new employees may require a lot of time and expertise. HR can structure employee orientation, provide training that can increase productivity and reduce turnover, and ensure that your company is compliant with EEOC laws.

Company culture

A human resources department can be instrumental in fostering your desired company culture. A supportive company culture, which can consist of a shared set of positive beliefs and attitudes, can enhance retention by helping employees feel like valued members of your team. HR can help build and perpetuate company culture by recruiting candidates who align with your values and by training and nurturing employees to uphold your business’s values. For example, ReminderMedia’s HR department has created paid opportunities for its employees to perform local community service and has created an Engagement and Events Committee to foster inclusion and a sense of belonging among its employees.

Compliance

In addition to remaining compliant with EEOC laws, your company must follow other applicable laws and regulations, such as antidiscrimination, family, medical leave, and safety laws. Staying up to date and ensuring that your company is doing everything it’s obligated to do under these regulations can be a complicated task, but your HR department can simplify it by staying abreast of local, state, and federal laws and by implementing related policies.

Evaluate your company’s processes to determine whether it can benefit from an HR department.

When to create an HR department

It can be difficult to pinpoint exactly when your company needs an HR department. If your business is growing quickly, it might be a good time to consider establishing one to handle the influx; some experts suggest adding an HR specialist when you have at least ten employees.

Potential savings

While bringing in an HR generalist and possibly other human resources staff is an expense, this move can reduce your overall costs, such as those associated with the additional recruitment and training that may be needed if employees aren’t properly screened and introduced into their roles and your company culture. This is because the cost of hiring a new employee can be much more expensive than retaining an existing one, often equating to several months of an employee’s salary.

As you can see, a human resources department covers many essential functions, and if you move to establish one, you may boost your company’s performance and save time and money in the process. n

The Ins and Outs of Affiliate Marketing

Affiliate marketing can help brands around the world reach a broader audience, generate leads, and increase sales numbers.

BY ALLISON GOMES

S A BUSINESS OWNER OR entrepreneur, one of your main goals is to use marketing to reach potential customers. A brand cannot succeed without marketing, and it often requires a lot of time, energy, and money to get your product or service in front of people. But social media has changed the game and has become a valuable tool for businesses. One highly effective online strategy is affiliate marketing, through which companies allow content creators—the affiliates—to push their products to their online followers.

The history of affiliate marketing

William J. Tobin, who is known as the world’s first internet marketer, is credited with starting affiliate marketing in 1989. Tobin created an e-commerce site for his business, PC Flowers and Gifts, and launched the Prodigy Network, a marketing model that allowed those in the network to receive a small portion of every sale generated through it. By 1995, 2,500 affiliates in the Prodigy Network were generating around $6 million annually for Tobin’s business.

A year later, Tobin filed for the patent for his marketing strategy, but other businesses had already started using

the model—one being Amazon, which launched its Associates Program that same year. Amazon was the first major company to utilize affiliate marketing, but its program allowed people anywhere to promote its products, which at the time were just books. Those in the Associates Program shared links to the products on their own websites and received a kickback from the sales made through their unique links.

Amazon’s public marketing model brought affiliate marketing into the mainstream and paved the way for the creation of more affiliate marketing programs and affiliate networks, sites where small businesses pay a fee to join and have their products advertised to affiliates, who then advertise the products to potential customers.

This is still the practice of affiliate marketing today—but to a higher degree than even Tobin could have imagined. Today, more than 80 percent of brands have an affiliate marketing program to help generate leads and increase sales numbers.

How affiliate marketing works

At its most basic, affiliate marketing works like this: a business allows affiliates to promote its products or

services online to their followers via personalized links that potential consumers can then use to purchase those products or services. When a sale is made through the unique link, affiliates receive a commission, which is typically a fixed percentage of the final sale. This means that businesses aren’t paying affiliates until after they have made a sale for the company. It’s a win for both brands and affiliates since they’re making money from the process without much upfront cost.

The affiliates are responsible for getting the product in front of potential customers. Affiliates spread brand awareness and increase traffic to a business’s product or service through various online platforms. “As an affiliate, you’re like the liaison between the product and the consumer,” says Jess Zion, an affiliate for six companies who now educates her 165,000 TikTok (@ makemoneywith_jess) and Instagram (@themarketingmama02) followers on the marketing strategy.

As an affiliate, you’re like the liaison between the product and the consumer.”

However, not just anyone can become an affiliate for any business. Some companies choose their affiliates, often via online applications, a process that allows them to pick who they think fits best with their brand and vision. In addition, there’s no cap on how many affiliates a business can have at one time. “You can have as many people as you want putting your product in front of your target audience,” says

Zion. Similarly, affiliates can promote however many companies and products they are approved for.

There are three main types of affiliate marketing: unattached, involved, and related. Unattached affiliate marketing utilizes affiliates who haven’t used the product or service before, meaning they can’t make claims about the quality. In involved affiliate marketing, the affiliate has

You can have as many people as you want putting your product in front of your target audience.”

a close connection to the product or service, with the affiliate having used it before and now recommending that other consumers use it as well. Related affiliate marketing relies upon the expertise of the affiliate to promote products to their audience. They don’t necessarily have to have used the product or service but rather have a personal or professional connection to it. Businesses and affiliates can choose the route that works best for their specific purposes, tailoring the strategy to the brand’s products or services.

Why affiliate marketing is beneficial

Ultimately, affiliate marketing has the potential to generate more leads for businesses, which, in turn, can increase sales. Affiliates can work from any social platform, allowing brands to be seen by a relatively large network of potential customers. “With social media having the presence it does these days and the sheer number of hours people spend scrolling on platforms like TikTok, Instagram, and Pinterest, companies can have numerous

people promoting their products directly in front of their target consumer,” Zion explains.

With a strategic collection of affiliates pushing a product or service online, there’s often a greater potential for sales through this marketing model than more traditional routes. For example, content may go viral, which can translate to more sales for businesses. If there’s an affiliate with a video that gets thousands of views, the potential for sales rises exponentially. “Let’s just say, if your affiliate is making content that converts, that’s a lot of product sales for your business,” says Zion.

As an industry, affiliate marketing was expected to reach a worth of $12 billion in 2022, almost triple its worth in 2015. There’s virtually no limit on the potential sales increases that businesses could see when they develop an affiliate program that attracts affiliates, who then attract more consumers for the business. “Affiliate marketing is the future of digital marketing,” Zion states. “It’s just the world we live in, and all businesses should be taking full advantage.” n

Examine the success of your current marketing strategies, and determine if your business could benefit from starting an affiliate program or joining an affiliate network.

Affiliates can work from any social platform, allowing brands to be seen by a relatively large network of potential customers.

Finding Your Competitive Advantage

Financial services firms can get a leg up on their competition by focusing on their competitive advantages. Here’s how.

BY WILLIAM KLINE

I’ve spent years consulting and teaching continuingeducation courses for CPAs and attorneys and over a decade teaching business strategy to MBA students. Here I offer

some actionable steps for practitioners looking to develop their financial service ecosystems.

A competitiveadvantage refresher

INANCIAL SERVICE PROVIDERS primarily operate in competitive markets, which contain two general categories of firms: a relatively short list of wellestablished and well-capitalized national/international firms and smaller, more regional firms. In aggregate, these firms offer a wide range of products and services to customers ranging from institutional to retail clients, thus providing an opportunity for firms of any size to carve out a niche market aligned with product attributes that the firm has an advantage in delivering. Small firms have a clear competitive advantage within a financial service ecosystem, particularly through referral sources, which ultimately drive new client growth.

Competitive advantage is a foundational business strategy concept that captures the essence of business—outcompeting

the firms in an industry to sell a product or service in the pursuit of profit. But what does it mean to outcompete your peers, and how do you do it? Academics and practitioners have been asking these questions for decades. The dominant logic in competitiveadvantage literature suggests that firms

Competitive advantage is a foundational business strategy concept that captures the essence of business–outcompeting the firms in an industry to sell a product or service in the pursuit of profit.

beat their peers by offering something of worth that uniquely satisfies the needs of a target customer group. In short, you have an advantage when you provide something that competitors cannot copy. This concept seems easy, but the “how” can be complicated.

Firms should start with a strategic vision. Drawing on work in Michael E. Porter’s book The Competitive Advantage: Creating and Sustaining Superior Performance and research by many others, firms offer products and services as either a differentiator or a low-cost provider. Firms with a differentiation strategy charge premium prices because they offer one or many premium features. Examples of firms with this strategic orientation include Apple and MercedesBenz. Firms with low-cost strategies generally offer more basic features but for a lower cost than peers. Walmart is an obvious example of a low-cost strategy. It is important to note that firms with either strategic orientation can be wildly successful. However, long-term success is driven by competitive advantage produced by the underlying business model.

Once a strategic orientation is selected, firms must decide on the target customer who will consume the premium or low-cost goods and services. Porter’s work describes a second dimension of strategy, which highlights the firm’s decision to sell to a broad or focused group of customers. A common approach is to segment potential customer groups based on dimensions such as age, education, income, or location. Analysts can also conduct customer analysis on more nuanced dimensions of customer “jobs” that satisfy social and emotional customer needs. Individually or collectively, these frameworks refine the emphasis of a firm’s strategy so that investment, focus, and product/service features are aligned with the preferences of one’s target market. Firms choose the size of their target market by narrowing or widening products and services that their ideal target audience will likely consume. For example, if a firm sells custom yachts,

its target customers are likely older, highly educated, and high-net-worth clients. Therefore, the firm has primarily eliminated younger, less-educated, and lower-income customers from its target market.

Understanding a firm’s general strategy gives a broad understanding of the foundation of competition. To identify sources of competitive advantage, we need to isolate resources and

activities at the business model level. For this analysis, we define a business model as the summation of all business activities that are required to carry out a business strategy (i.e., a firm’s plan to compete).

A business model has two sides: the supply side, including the resources and activities that a firm uses to create a product or service, and the demand side, including the resources and activities related to the customers’ value proposition. A firm can develop an advantage over its peers from the business model’s supply side or demand side. For example, supply-side advantages can stem from resources or activities within the firm, such as better software or IT infrastructure, inventory control systems, or employee productivity. Supply-side efficiencies generally lead to a lower cost structure and, therefore, higher profit or more pricing flexibility

The ecosystem concept stems from the field of biology and characterizes a network of entities working together for some common purpose.

than the competition. Demand-side advantages are customer-facing, often coming from premium features, customizable solutions, or superior customer service, which commonly accompanies premium pricing.

How to develop your ecosystem

Before we begin, I would like to refine our scope by defining our target audience. For this exercise, our target audience is an ecosystem full of other entities with common goals. More specifically, this ecosystem includes accountants, attorneys, financial advisors, and insurance and real estate agents, all of whom support one another on complex client engagements and through referral arrangements. It is important to note that we are trying to produce value for an “intermediate actor” and not the end consumer, but the same principles apply. In order to create a competitive advantage, we

need to create a product or service that our peers cannot easily copy. Doing so will solidify ecosystem relationships and hopefully create value for all involved.

The ecosystem concept stems from the field of biology and characterizes a network of entities working together for some common purpose. Given this narrow view, we can direct our attention to how to create something unique for our target audience.

Again accountants, attorneys, financial advisors, and insurance and real estate agents all support one another on complex client engagements and through referral arrangements. As a professional in any of these industries, it’s critical to build relationships with other industry leaders.

Below are five proven activities for building a supply-side competitive advantage in the financial services space.

Note that there is a significant difference between the members of your ecosystem and retail clients, particularly clients without advanced degrees and strong business acumen. As such, service providers must tailor resources and activities for ecosystem partners in their language, to their level of sophistication, and in communication channels tailored to them. If this is done, you create trust—a necessary ingredient for ecosystem development. If competitors cannot replicate your ecosystem, you can create competitive advantage in the long run.

➊  Network smart

Focus on networking with groups that have a specialized emphasis. For example, avoid groups that cater to the general public and identify and network with groups that are composed of members in the service professions you seek. If you find targeted groups, you will potentially find like-minded individuals, which is an essential aspect of establishing an ecosystem.

➋  Build branded thought leadership content

Build branded technical resources, including case studies and examples, to articulate where your technical expertise contributes to client

engagements. This is important because thought leadership content and delivery should differ for each target audience. For example, if you complete tax returns for retail clients, you should avoid technical jargon and provide actionable advice on records retention or tax form submission guidance. However,

experienced professionals need technical insights.

➌  Deliver content in the optimal format

Technical content should be delivered in forums that provide the most credibility. While company newsletters or firm webinars can serve this purpose, you will have

more credibility by having content in peer-reviewed magazines, journals, or speaking venues. This is because the sponsoring organization is providing a signal about your technical expertise by giving you a platform. You will be viewed as more of an authority figure than a salesperson. An additional benefit of this avenue is

that it should allow easy access to sponsor organizations’ members and prospects.

➍  Revisit print marketing options

Get tangible products, ideally bounded materials, in the hands of your ecosystem. Research shows that people hold on to printed materials for long periods. This is

even better if the printed materials contain thought leadership content for future reference. Business professionals love reference materials for their offices.

➎  Volunteer for leadership roles in outside organizations

Volunteer to be a specialty area expert for an organization like a specialty association. Again, this signals your expertise while giving free exposure to the association members and the public.

Competitive advantage comes in many forms. Here I have provided five activities tailored to develop a firm advantage from the supply side of a financial service business model. Integrating these activities makes the source of advantage even more unique. While this source of advantage is not as apparent as customer-facing features or attributes, it offers a powerful opportunity for service firms to outcompete industry peers. n

Suggestion for further reading:

Porter, Michael. E. The Competitive Advantage: Creating and Sustaining Superior Performance. NY: Free Press, 1985 (Republished with a new introduction, 1998.)

Discover Your Motivation Style

Motivation is about more than your character. Learning your motivation style can spotlight how you operate your business and where you need to grow.

BY LUKE ACREE

What Motivates You?

I’m not talking about your goals for today or even the quarter. I mean the inner fire that pushes you to learn, grow, and succeed every day of your life. Motivation may even be the reason you ended up in the business you’re in now. It can also affect your company in profound, unexpected ways.

Before I dive deeper, I want to clear up some confusion. There are several theories about types of motivation, some of which conflict with one another. According to psychologist Abraham Maslow’s hierarchy of needs, people act to satisfy one of five needs, ranging from basic survival to an overall sense of personal fulfillment. Meanwhile, Aristotle believed that there were certain “ends” or goals behind every action or choice you make.

Leadership IQ

One of my favorite theories on motivation comes from the Leadership IQ quiz. I’ve taken the quiz myself, which I discussed on an episode of my podcast, Stay Paid. This theory breaks all personal sources of motivation into five distinct categories:

ACHIEVEMENT: The motivation to excel by pursuing lofty goals and seeking self-improvement. Achievement-motivated people gain satisfaction from promotions, meeting challenging deadlines, and earning accolades.

POWER: People motivated by power seek to gain influence, lead teams, and guide others to reach their goals. They may choose high-ranking professions over high-paying ones, though these overlap in most industries.

AFFILIATION: Collaborative and social people aim to build positive relationships with others. They believe in harmonious team environments where everyone gains satisfaction from the work they do.

SECURITY: People motivated by security build stable, reliable, and financially rewarding lifestyles. They avoid unstable careers that are highly dependent on economic whims or a series of short-term projects (like the arts).

ADVENTURE: Polar opposite to the previous category, adventurous types crave high-risk/high-reward pursuits. They love beating the odds, new ventures, and reattempting challenges that they may have failed in the past for another chance at victory.

All of these theories aim to explain not only what people do but also why they do it. Overall, though, these different and even contradictory theories can still fit neatly into two major categories: intrinsic and extrinsic.

Intrinsic motivation makes a person act for the sake of action itself. They love what they do, and they gain

satisfaction from their choices and day-to-day activities.

Extrinsic motivation makes a person act to obtain a specific goal, achieve a positive result, or avoid a negative consequence.

You may not quite see yourself in either category just yet. Here’s a closer look at each one.

According to psychologist Abraham Maslow’s hierarchy of needs, people act to satisfy one of five needs, ranging from basic survival to an overall sense of personal fulfillment.

Intrinsic motivation

This motivation style comes from within. Your personal feelings or intentions guide you, and you aim to satisfy these inner demands. You may work hard for its own sake, for the thrill of taking on new ventures, or for the sheer passion for the field in which you operate.

However, intrinsic motivation may be highly dependent on your feelings toward your work. So if you suddenly feel bored or unsatisfied with your work—for any reason—you may start to detach from your responsibilities. At its most potent, intrinsic motivation fuels an individual to work tirelessly and be fully committed to surpassing any challenge they meet.

Extrinsic motivation

This type of motivation aims to achieve. Whether you’re working hard to gain a promotion, earn your paycheck, or get to Friday so you can enjoy your weekend to the fullest, those of you who are powered by extrinsic motivation always need a goalpost. What are you working for today, and how can you set goals or rewards for yourself to stay motivated?

Similarly, those who work with extrinsic motivation may also do their best to avoid punishment. Such people may excel in very tough or demanding work environments—like in health care, where mistakes can be costly or even dangerous— because they internalize the potential consequences of being imprecise.

Don’t confuse extrinsic motivation with being superficial or shallow. This motivation type pushes you to reach very respectable goals, like buying your first home, saving up a college fund for your children, or staying on good terms with your clients.

Intrinsic motivation makes a person act for the sake of action itself. They love what they do, and they gain satisfaction from their choices and day-to-day activities.

Extrinsic motivation makes a person act to obtain a specific goal, achieve a positive result, or avoid a negative consequence.

So what?

As leaders in business, constant self-ref lection is critical to ensure that we and our businesses are always self-aware of where our strengths and our weaknesses lie It's about staying ahead of the game, optimizing our chances of success, and reducing the headwinds we can sometimes face.

Why should you take the time to look inward and figure out your motivation style? Because knowing why you make the choices you make allows you to reach your full potential. Understanding your motivation style can guide you to positions that are best suited to you. For example, those who align with adventurous intrinsic motivation may enjoy the thrill and intrigue of being a venture capitalist. When you get to know your own strengths, you can find the avenues in which you’ll naturally excel.

At 4xi, we believe in the importance of this process throughout the business life c ycle, from our TRUE NORTH© methodolog y, to win better, retain better business. Our MarketMatch© approach to identif ying Ideal Client profiles and identif ying strategic partnership opportunities where we not only sur vive but thrive is an important formula of success.

motivated may need an extra push to understand the gravity of external goals, like meeting quotas and revenue growth. Those who are extrinsically motivated may wait on other forces or circumstances to power them up. For example, such employees may excel when trying to reach a goal like a promotion but then may get complacent when there isn’t a specific goal in their sights. Identify your motivation style to identify where you could improve.

There are plenty of businesses that do customer ser vice well, and we all know their names because customer-ser vice-dri ven businesses quickly rise to the top of their industries.

Through

Evolving Experiences©

However, understanding yourself can also help you assess your weaknesses Learning about your weaknesses may not sound like a ton of fun, but it can mean a sea change in your professional (and maybe even personal) life. As Ann Holland, PhD, told Forbes, “The best way to get unstuck and get out of your own way on the road to achieving your goals is to power up your self-motivation.”

we focus on the Human Experience of customers, consumers, and employees and how we can drive effective attraction strategies, engagement, and elevate all our stakeholders to being advocates, ambassadors, even evangelists of our brands.

Where is your personal motivation style lacking? Those who are intrinsically

Just as a king or queen needs a counsel of experts, business leaders who get to know their motivation style can surround themselves with a team of collaborators who excel where they do not. Are you extrinsically motivated by signs of success, like financial growth, but not particularly interested in harmony with others? Enlist another leader in your company who is more intrinsically motivated by affiliation to guide team-building efforts and improve company retention. n

4xi Global Consulting & Solutions

Email: hello@4xiconsulting.com www.4xiconsulting.com

About the author: Luke Acree is an authority on leadership, a leadgeneration specialist, and a referral expert who has helped more than 100,000 entrepreneurs and small businesses grow their companies. He hosts Stay Paid, a sales and marketing podcast, and has been featured in Entrepreneur, Forbes, and Foundr.com.

In this issue, learn why you need to put customer ser vice at the forefront of ever ything you do if you want your organization to be the next Disney, Nike, or Apple.

We do hope you enjoy this latest issue of Business in Action, and we look for ward to connecting again soon.

Simon Elliot, Bar bara Boden Managing Par tner s and Co -Founder s

Use the list in this article to determine what motivates you, and use that motivation style to create new goals. Then use this guide to set goals that apply to your style.