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5 Things to Consider if You Want to Stay Competitive

5 Things to Consider if You Want to Stay Competitive


    Whether you’re a business owner, entrepreneur, or manager, you have to pay attention to the business landscape and your place in it if you want to be successful. You don’t want to get caught languishing by the side of the road as the rest of the marketplace rushes by you. It’s important to assess where you are now and how you can maintain, regain, or create a competitive edge over the crowd.

    What You Need to Consider

    1. Branding

    What do you do and what sets you apart?

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    Branding is the buzzword of the day, maybe the decade. Though possibly overused, the concept is still an important one. Branding is far more than a memorable tag-line, catchy logo, or impressive elevator speech. The primary value of branding is in clarifying precisely what makes you different, what you have to offer that makes you stand out from the bulk of competitors in the marketplace. Branding is the cornerstone of any successful marketing plan.

    2. Relationships

    What do people care about and what needs do they have?

    Getting to know and understand people is vital. The key is to focus on quality over quantity. Masses of social media connections matter less than relationships with people who can directly influence the success or failure of the business. Current and prospective customers, as well as employees and professional connections have the most relevant opinions and useful feedback to offer. It’s imperative to communicate, listen, and build relationships with those who can impact the future of your business.

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    3. Leveraging

    What are your areas of efficiency and areas of weakness?

    Small businesses and entrepreneurs tend to be resource poor. It’s just the nature of not having a large cash flow at their disposal. The most successful excel at squeezing the maximum value out of available time, money, and talent. Their strategy is to do what they do best and delegate or outsource the rest. Essentially, they know how to Do More with Less.

    They spend their time on activities that provide more value, those activities that increase revenue or help the company to grow. What they don’t do is waste their time on activities that provide little or no value. While it may seem counter-intuitive to pay others to do tasks that could be done in house, it’s often more efficient and profitable in the long run. Leveraging unproductive activities saves time and money, by increasing the focus on the most valuable tasks.

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    4. Growth

    Where are the opportunities for growth?

    Complacency and stagnation are red flags that portend a grim outlook for future success. The danger lies in placing so much of our focus on digging in, completing current projects and managing small crises that we forget to be open to change and creative innovation. Unfortunately, this negatively affects our position in the business market and diminishes our competitive advantage.

    It’s critical to keep one eye focused on growth, evolution, and innovation. If you don’t, you will fade into the crowd while other more forward thinking businesses surge ahead, leaving you in their dust. This sounds overwhelming and somewhat intimidating when you barely have enough time and energy to focus on current needs, but it doesn’t have to be. All that’s really required is that you stay open to new opportunities and consistently take steps — even small ones — to keep growing and moving forward.

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    Growth takes many forms. It might be revising an existing process, updating skills, investing in new equipment or learning a new technology. It also might take the form of more significant changes such as shifting careers or business models, or launching a new product or service.

    5. Balance

    What do you need? What are you neglecting? What would make you work and life more enjoyable?

    Balancing priorities and the different aspects of our life is the foundation for building a successful and personally fulfilling career or business. Modern society is buzzing with the work-life balance conversation, but often we misconstrue the meaning of balance, or at least the real world application of the concept. It’s not about trying to allot equal portions of attention, time, and energy to the separate parts or even making one a priority over the other. It’s more about discovering that right combination of shifting importance and focus that can meet the ever-changing demands of work life and personal life while still leaving us feeling happy and fulfilled, and not on society’s terms, but on our own.

    Success and fulfillment requires that we pay attention to where we are, how we’re doing, and where we’d like to be. If we can figure out what sets us apart, how we need to grow and what we need to do to keep moving forward, then we can begin to apply our focus and resources – namely time, energy and money – in a way that allows us to continue to thrive.

    (Photo credit: Businessman Moving Chess Pieces via Shutterstock)

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    Last Updated on August 16, 2018

    10 Huge Differences Between A Boss And A Leader

    10 Huge Differences Between A Boss And A Leader

    When you try to think of a leader at your place of work, you might think of your boss – you know, the supervisor in the tasteful office down the hall.

    However, bosses are not the only leaders in the office, and not every boss has mastered the art of excellent leadership. Maybe the best leader you know is the co-worker sitting at the desk next to yours who is always willing to loan out her stapler and help you problem solve.

    You see, a boss’ main priority is to efficiently cross items off of the corporate to-do list, while a true leader both completes tasks and works to empower and motivate the people he or she interacts with on a daily basis.

    A leader is someone who works to improve things instead of focusing on the negatives. People acknowledge the authority of a boss, but people cherish a true leader.

    Puzzled about what it takes to be a great leader? Let’s take a look at the difference between a boss and a leader, and why cultivating quality leadership skills is essential for people who really want to make a positive impact.

    1. Leaders are compassionate human beings; bosses are cold.

    It can be easy to equate professionalism with robot-like impersonal behavior. Many bosses stay holed up in their offices and barely ever interact with staff.

    Even if your schedule is packed, you should always make time to reach out to the people around you. Remember that when you ask someone to share how they are feeling, you should be prepared to be vulnerable and open in your communication as well.

    Does acting human at the office sound silly? It’s not.

    A lack of compassion in the office leads to psychological turmoil, whereas positive connection leads to healthier staff.[1]

    If people feel that you are being open, honest and compassionate with them, they will feel able to approach your office with what is on their minds, leading to a more productive and stress-free work environment.

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    2. Leaders say “we”; bosses say “I”.

    Practice developing a team-first mentality when thinking and speaking. In meetings, talk about trying to meet deadlines as a team instead of using accusatory “you” phrases. This makes it clear that you are a part of the team, too, and that you are willing to work hard and support your team members.

    Let me explain:

    A “we” mentality shifts the office dynamic from “trying to make the boss happy” to a spirit of teamwork, goal-setting, and accomplishment.

    A “we” mentality allows for the accountability and community that is essential in the modern day workplace.

    3. Leaders develop and invest in people; bosses use people.

    Unfortunately, many office climates involve people using others to get what they want or to climb the corporate ladder. This is another example of the “me first” mentality that is so toxic in both office environments and personal relationships.

    Instead of using others or focusing on your needs, think about how you can help other people grow.

    Use your building blocks of compassion and team-mentality to stay attuned to the needs of others note the areas in which you can help them develop. A great leader wants to see his or her people flourish.

    Make a list of ways you can invest in your team members to help them develop personally and professionally, and then take action!

    4. Leaders respect people; bosses are fear-mongering.

    Earning respect from everyone on your team will take time and commitment, but the rewards are worth every ounce of effort.

    A boss who is a poor leader may try to control the office through fear and bully-like behavior. Employees who are petrified about their performance or who feel overwhelmed and stressed by unfair deadlines are probably working for a boss who uses a fear system instead of a respect system.

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    What’s the bottom line?

    Work to build respect among your team by treating everyone with fairness and kindness. Maintain a positive tone and stay reliable for those who approach you for help.

    5. Leaders give credit where it’s due; bosses only take credits.

    Looking for specific ways to gain respect from your colleagues and employees? There is no better place to start than with the simple act of giving credit where it is due.

    Don’t be tempted to take credit for things you didn’t do, and always go above and beyond to generously acknowledge those who worked on a project and performed well.

    You might be wondering how you can get started:

    • Begin by simply noticing which team member contributes what during your next project at work.
    • If possible, make mental notes. Remember that these notes should not be about ways in which team members are failing, but about ways in which they are excelling.
    • Depending on your leadership style, let people know how well they are doing either in private one-on-one meetings or in a group setting. Be honest and generous in your communication about a person’s performance.

    6. Leaders see delegation as their best friend; bosses see it as an enemy.

    If delegation is a leader’s best friend, then micromanagement is the enemy.

    Delegation equates to trust and micromanagement equates to distrust. Nothing is more frustrating for an employee than feeling that his or her every movement is being critically observed.

    Encourage trust in your office by delegating important tasks and acknowledging that your people are capable, smart individuals who can succeed!

    Delegation is a great way to cash in on the positive benefits of a psychological phenomenon called a self-fulfilling prophecy. In a self-fulfilling prophecy, a person’s expectations of another person can cause the expectations to be fulfilled.[2]

    In other words, if you truly believe that your team member can handle a project or task, he or she is more likely to deliver.

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    Learn how to delegate in my other article:

    How to Delegate Work (the Definitive Guide for Successful Leaders)

    7. Leaders work hard; bosses let others do the work.

    Delegation is not an excuse to get out of hard work. Instead of telling people to go accomplish the hardest work alone, make it clear that you are willing to pitch in and help with the hardest work of all when the need arises.

    Here’s the deal:

    Showing others that you work hard sets the tone for your whole team and will spur them on to greatness.

    The next time you catch yourself telling someone to “go”, a.k.a accomplish a difficult task alone, change your phrasing to “let’s go”, showing that you are totally willing to help and support.

    8. Leaders think long-term; bosses think short-term.

    A leader who only utilizes short-term thinking is someone who cannot be prepared or organized for the future. Your colleagues or staff members need to know that they can trust you to have a handle on things not just this week, but next month or even next year.

    Display your long-term thinking skills in group talks and meetings by sharing long-term hopes or concerns. Create plans for possible scenarios and be prepared for emergencies.

    For example, if you know that you are losing someone on your team in a few months, be prepared to share a clear plan of how you and the remaining team members can best handle the change and workload until someone new is hired.

    9. Leaders are like your colleagues; bosses are just bosses.

    Another word for colleague is collaborator. Make sure your team knows that you are “one of them” and that you want to collaborate or work side by side.

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    Not getting involved in the going ons of the office is a mistake because you will miss out on development and connection opportunities.

    As our regular readers know, I love to remind people of the importance of building routines into each day. Create a routine that encourages you to leave your isolated office and collaborate with others. Spark healthy habits that benefit both you and your co-workers.

    10. Leaders put people first; bosses put results first.

    Bosses without crucial leadership training may focus on process and results instead of people. They may stick to a pre-set systems playbook even when employees voice new ideas or concerns.

    Ignoring people’s opinions for the sake of company tradition like this is never truly beneficial to an organization.

    Here’s what I mean by process over people:

    Some organizations focus on proper structures or systems as their greatest assets instead of people. I believe that people lend real value to an organization, and that focusing on the development of people is a key ingredient for success in leadership.

    Learning to be a leader is an ongoing adventure.

    This list of differences makes it clear that, unlike an ordinary boss, a leader is able to be compassionate, inclusive, generous, and hard-working for the good of the team.

    Instead of being a stereotypical scary or micromanaging-obsessed boss, a quality leader is able to establish an atmosphere of respect and collaboration.

    Whether you are new to your work environment or a seasoned administrator, these leadership traits will help you get a jump start so that you can excel as a leader and positively impact the people around you.

    For more inspiration and guidance, you can even start keeping tabs on some of the world’s top leadership experts. With an adventurous and positive attitude, anyone can learn good leadership.

    Featured photo credit: Unsplash via unsplash.com

    Reference

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