The Roving Entrepreneurs: On The Ocean

The Roving Entrepreneurs in an Aquarum

Somebody Thought of That

Real Results:  Maximize Your Relationships with Strategic Partners

Solutions can be as simple as one minor tweak; an outside perspective can help us make those subtle changes. Below is a real solution implemented by a business owner. Challenge: How to maximize relationships and results with Strategic partners. Solution: Create an exclusive leads group Here’s the twist You are the center of this group.  You promise to exclusively refer all clients in need of their service to them.  They make the same promise to you.  In time when relationships and rapport have been built other members of the group can promise to do the same for one another.  In the meantime, all participants are promised to you, and you to them. To help keep one another top of mind in between meetings create a questionnaire that assesses the needs of your clients.  Each member reports back each month on the results. Results: Increased productivity, on going referral sources, better relationships. Application: Identify 4 – 6 strategic alliances that you know like and trust to serve your clients.  Create a schedule (monthly is best), keep the group committed by providing a steady stream of referrals. Such a group does exist, and has been thriving for nearly a year. Leadership has its pressures and privileges, The E Circle may have the answers you’ve been looking for.

Why your Business Needs a Board

Article from Entrepreneur.com

Leadership expert Ken Blanchard once said, “Feedback is the breakfast of champions.” But if you’re working solo (or in a small company), where will that feedback come from?

Small and solo businesses can get feedback in several ways:

1. A Board of Directors. If there is more than one owner in your company, you have automatic access to a “board of directors.” Directors are usually people within your company who have executive authority to make major decisions. As noted in the E-Myth post, “Do You Need a Board of Directors?” a board of directors can help develop business plans, handle policy issues, focus overall business strategy and monitor a company’s financial strength. However, when you bring in a board of directors, this will be the team that decides and implements change for your company. Decisions will be mandated by a majority.
2. A Board of Advisors. Advisory board members don’t have a legal responsibility to your company. And you don’t have a legal responsibility to take the advice they give. However, as Bert Martinez points out in “The Value of the Board of Advisors,” they still have at least a “moral” …  Read More

Benefits of peer advisory boards

Business Mentors: Set Up Your Own Advisory Board

Posted on November 26, 2010 by William Taylor

If your interested in learning more about Business Mentors: Set Up Your Own Advisory Board.

Your support team. You cannot do it ALL on your own! Whether you are the boss, the owner, a trusted employee or an interim supplier, we all need support from somewhere. The question is how to get the relevant support that you need; where does it come from and how do you find it?

Read More

Somebody Already Thought of That!

Solutions can be as simple as one minor tweak; an outside perspective can help us make those subtle changes.

Below is a real solution implemented by a business owner.

Medical offices have been doing this for years

Challenge: Busy office, with lots of detail work to accomplish.  Staff capable, but too many interruptions in the day, not working as efficiently.

Solution: Close office for lunch everyday from 12:00 – 1:30, calls go to voice mail (message letting customers know what time office will reopen),  allowing staff to take a lunch break and allot 60 minutes to work uninterrupted.

Results: Increased productivity, calmer and happier staff, increased profit

Application: Schedule times in your day to work without interruption, let your clients know (in your voice mail message) what times you will return calls and email.

Leadership has its pressures and privileges, how can we help?

Peer Advisory Board: Assigning Roles Part 5

To recap over the past few months we have been talking about how to assemble a Peer Advisory Board.  We discussed choosing the members, commitment, the importance of a pre-set agenda, and discussion protocol.  This post will discuss the different roles that are important to your board.

Every board is started by someone.  This person took the initiative to put the group together.  Although, possible for the individual to continue to take responsibility for the group, it isn’t beneficial to the leader or the group.

The board benefits all participants, therefore all participants should take responsibility for some part of the work.

When one person is doing all the work, they can start to feel underappreciated.  The group may become less committed or interested in it’s success, not to mention the load of the responsibilites are much easier to bear when everyone helps.

Below is a breakdown of the roles we have found work.

Facilitator:

1. Facilitate the meeting

A. Meeting Opener

B. Keep conversation on track

C. Keep all members participating

D. Make sure all members have the opportunity to present

E. Talk to members who resist presenting or causing disturbances

F. Create comfortable environment for all

a. Member attitude

b. Member participation

2.  Meeting location

3. Meeting Schedule

4. Check in with Presenter

5.  Prepare meeting agenda

6. Bring Charter and signed confidentialty agreements to the meetings

Facilitator Elect: takes on the role of facilitator at the meeting when the current facilitator is presenting.

Presenter: (All members)Prior to the meeting: Prepare their topic to discuss with the group. Meet with their buddy/coach, by phone or in person.

Buddy/Coach: (All Members) Meet with presenter before meeting.  The role of the buddy is NOT to offer any advice to the presenter during the preparation meeting.  Help them prepare for the discussion and clarify their issue.

Time Keeper: Give warnings as time elapses and notices when time is up.  Keep meeting running on schedule.

Discussion Protocol Observer: Give notice and assistance when the discussion protocol is violated.

Secretary: Take notes on any changes to the schedule, charter, agenda, location, etc…  Please note, confidential conversation should not be documented, published or distributed due to risk of confidentiality breach.

Treasurer: Collect monies from the group.  Money may be collected for expenses, dues, charter breaches, ect…

The presenter and coach are ongoing roles for all members.  The other roles should be assigned term limits and rotated evenly.

Next time we will discuss confidentiality.

The Entreprneur Circle Introductory Session

No one can master all of the issues demanding attention from a business owner today. There are just too many issues and they change too fast for one person to stay current:   marketing, employment issues, IT issues, changes in competition, and sales, just to name a few.

Where are you currently getting your ideas and solutions?

Who do you talk to when you have to make an important decision? Who helps you through your difficult challenges?

Peer Advisory Boards are a carefully selected group of people that will provide for you:

 - Accountability

- Brainstorm ideas ·

- Introduce new concepts

- Work through business challenges in a secure confidential environment

The Entrepreneur Circle will host an introductory session to answer your questions regarding participation on our Peer Advisory Boards and how they may help you grow your business.

Event Details:

 When:  Friday 12/18/09

Where:  500 Winding Brook Drive 2^nd Floor, Glastonbury, CT 06033

Time:  8:00 – 9:30 AM

 For more information on The Entrepreneur Circle please visit us at www.TheEcircle.com or Check out our Video Brochure

“The Entrepreneur Circle has provided an environment that allows me to continually think outside the box and then pursue those thoughts and goals with mutual support and accountability. We drastically improved our marketing programs and substantially grew our firm in our first year as E-Circle members. I strongly encourage any business person to make this commitment a priority item in their business plan.”  Bill McCloskey Founder of Stateline Senior Services

Peer Advisory Boards: Discussion Protocol Part 4

In order for your Peer Advisory Board to be effective, 3 very important things need to occur:

1. Communication
2. Listening
3. Action

This becomes a delicate balancing act.  In order for true change to occur all three must take place.

com·mu·ni·ca·tion (k -my n -k sh n)

n. 1. The act of communicating; transmission.  2. a. The exchange of thoughts, messages, or information, as by speech, signals, writing, or behavior .b. Interpersonal rapport.

lis·ten (l s n) intr.v.

1. To make an effort to hear something    2. To pay attention; heed

ac·tion ( k sh n)

1.  The state or process of acting or doing  2.  Something done or accomplished; a deed.  3.  Organized activity to accomplish an objective  4. The causation of change by the exertion of power or a natural process

Communication is relevant for both the individual presenting his/her situation and the board members contributing to him/her.

The Presenter

The Presenter should be clear on his or her objectives and outcome.  They should come to the meeting prepared to state his/her challenge or opportunity.  We recommend that the presenter write out their situation, then meet with someone from their board (buddy) to help them clarify the issue at hand. Preparation in advance allows the most success for the presenter.  Once the presenter has presented their issue, their job is to listen, create an action plan, and take action.  Without action, the presenter will not be able to affect change, and attain results.

The Group

It is essential that the group come prepared to help the presenter create an action plan.  They should also come with the understanding that the presenter is the focal point of the discussion and may start to feel overwhelmed, defensive, or uncomfortable if they are given too much information or advice.  We find the best results occur when the board communicates through sharing experiences, and asking questions.  It is also important for the board members to intently listen to the presenter through their verbal and non-verbal clues.   It is the job of the Board participants to support and help the presenter feel secure enough to present their situation.  The group is not there to judge the presenter or “fix” the problem.  They are there to listen and provide useful information so that he/she may form their own plan of action on their terms.  We have been given advice and told what to do our whole lives, we have a book shelf full of books, and have had encountered many folks that are more than willing to tell us how we should do something.  In my experience the true change comes from the personal decision to take the action, the best action plan is the plan created by the individual.  Therefore it is the responsibility of the board to help the presenter create his/her own action plan, and hold them accountable to take the necessary steps.

All parties come to the table with the intention to help one another grow, change and see their business in a different way.  This can and does occur when the parties involved come to the table ready to communicate, listen, and take action.

Next time we will discuss the importance of assigning roles.

Previous entries

Choosing the members of your Board

Commitment

Organization

Peer Advisory Boards: Pre-Set Agenda Part 3

We have been providing the step by step guide to creating your own peer advisory board.  This post is dedicated to the importance of a pre-set agenda.  The last post was dedicated to commitment

Important meetings have an agenda.  Your Peer Advisory Board meeting is an important meeting.  The Agenda is the guide to how the time will be spent at the meeting.  Going into the meeting without one may lead to time spent unproductively.

There is a fine line between the Peer Advisory Board and a Coffee Klatch.

Coffee Klatches have their place in the world; they are usually social in nature, a place where there isn’t a pre-set defined result in mind.  Peer Advisory Boards are all about results.

Having a pre-set agenda gives the members boundaries: A start time, end time, and in between time.

As a busy business owner it would become frustrating to rush to a meeting that frequently starts late, ends late, or doesn’t accomplish the intended goal.  Time is not a commodity and should not be wasted.  The time the business owner sets aside to attend a meeting must accomplish something.  Therefore, assign and stick to the meeting schedule.  Don’t over plan or under plan the meeting.

Time limits in the agenda will force the group to concentrate on the task at hand and not stray in the conversation.  Assign the role of timer to someone in the group.

Be respectful of your time and the time of your board mates.  Having a pre-set agenda at your meeting will keep the group healthy and together.  Groups that are disorganized will eventually fall apart.

Next time we will discuss Discussion Protocol