Seven Tips to Get and Keep Your Business Booming

If you want your online business to BOOM, you'll need to work hard at it. Here are some areas that could be helpful:

#1 ~ Keep Learning

Even the most successful business person continues to learn. Those who stop learning will eventually become archaic. Continue to hone your skills at your business model and at business in general. Immerse yourself in learning to be successful and when you reach success, stretch further to become more of an expert.

#2 ~ Keep Marketing

If you stop marketing, your traffic and leads will soon stop. Through continuous marketing you will continue to generate leads and you'll stay on the cutting edge of successful marketing techniques for your industry.

#3 ~ Keep Branding

Networking and branding should be ongoing. Gather info to manage your online reputation and develop relationships with your clients. You can use social marketing tools and business intelligence tools to help you manage this. Proactive reputation management is vital for online success.

#4 ~ Keep it Professional

Even if your business is small or part-time, treating it like a real business is essential. Create a fund for growing and managing the business, track your profits, come up with a name. Make a website and work at marketing it. Keep your books organized, too!

#5 ~ Keep Investing

Investing in the success of your business could bring great dividends. There are many different things you can do to increase your presence, build relationships, boost conversion rates, and so on. You may want to think about upgrading technology, buying a smart phone or investing in tools to improve your productivity. Consider developing your website, boosting your SEO, hiring accounting or virtual assistant services, etc.

#6 ~ Keep On Planning

Successful entrepreneurs tend do more than just amble along. They set goals and strategize on ways to increase market share, improve reputation, create viral buzz, and generate referrals.

How will you grow your empire?

Think about how you'll grow your business and make plans that will help you reach your goals. Complacency will eventually result in a drop in income and it can also lead to loss of passion that fuels success.

#7 ~ PASSION & REWARDS

Do something you love. Be excited at what each day could bring. Incent yourself to succeed. Incentives work great for employees but they can work great for the self-employed as well. When you reach your goals, reward yourself and then start thinking about the next milestone you want to reach!


Article Source: http://EzineArticles.com/?expert=Dana_Prince

Employee Motivation - A 7 Point Checklist For Success

Summary

Millions of words have been written about employee motivation. I've contributed a few thousand myself. The topic is nowhere nears as complex or difficult as some gurus would have you believe. Pay careful attention to the following seven issues and the motivation will follow.

1. Say Exactly What You Expect

Employees want to know exactly the results that you want from them. Set crystal clear, unambiguous, measurable performance standards. Performance goals are important. But performance standards tell employees how well they're progressing and how they'll know they've achieved the results you want.

2. Specify Exactly How Their Performance Will Be Measured

Set the performance standards. Say precisely how their performance will be measured against the standards. The standard may be to produce 9 content rich, published blogs each calendar month. The measure may be to produce 2 a week for 4 consecutive weeks plus one "standby" blog. You could also define "content rich" and "publishable".

3. Tell Them "How Well They're Going"

Employees should know, daily if possible, how well they're performing against the standards. Your internal systems should produce that information. You should support it through verbal feedback as required and at least every week.

4. Provide Resources

You cannot expect top performance if you don't provide and maintain adequate resources: equipment, tools, time, machines and support. That's all that needs to be said about this.

5. Create Performance Systems

Your role is, with employees, to put systems in place that make it impossible for them to fail. Remember "system" is merely a word we use to describe "how we do things around here." If your systems are poor your people will fail. That's the reality.

6. Establish Performance Based Reward Systems

Pay employees well when they achieve results. Pay incentives to reward superior performance. It's best to establish reward and incentives systems that reinforce the importance and value of performance standards.

7. Encourage Autonomy

Set standards, establish systems, provide feedback, reward performance. Having done that, encourage employees to recommend improvements in all three areas. Employees want to give you what you expect. But they also expect you to respect their achievement with greater freedom to act to improve things.

Other Issues

* Select staff with great care: look for people who'll respond to a strong performance based approach.
* Measure performance, not behaviour: behaviour matters only if it inhibits performance.
* Have clearly defined, narrow business focus and a clearly defined target market.
* Pep talks have limited, if any, value: implement the 7 points and you won't need to give pep talks.
* Try to create positive consequences for employees who perform well.

Article Source: http://EzineArticles.com/?expert=Leon_Noone

Tips for Buying Business-To-Consumer or Business-To-Business Data

If part of your marketing efforts includes direct mail, here are some tips when shopping for the right data. First, I recommend that you contact a list broker. Just as you would use a realtor to help you find the home, a list broker is equipped to help you find the right data for your direct marketing campaign.

Even with a broker, it helps to have an idea of the type of data you should be looking for.

On the consumer side, there are two types of data: compiled and subscription data. Compiled data is from surveys, self reported, catalog and retail shopping information, internet activity, public record data, etc. They multi verify each record, which means at least three of their sources match up to the person's interest or buying habits. Ask the source of a specific segment or list how the data is compiled for that particular segment. It is VERY important that you understand how the data is compiled and/or the source of the data itself.

Subscriber data are people that subscribe to magazines. That data works GREAT, but it is from one source only. Example: you have a client that is trying to reach golfers. Subscribers to Golf Digest will be a much better file than compiled data because we know 100% they are interested in golf. Business magazines are really good because they are reaching the exact contact title at their place of business.

Expect to pay a minimum cost, or be required to order a minimum number of records necessary to place an order. A processing fee is always added to the cost of the file as well. Your list could take up to 48 to hours to process so please allow enough time while you schedule the mail date.

For business-to-business data, trade publications are great if you need to find a particular title (CEO, HR, etc), and really want to hone in on that industry. Other business data comes from D&B as well as public records. Both sources can identify employee size, yearly revenue, etc., as it is SIC code based.

Communication is key. Tell your list broker everything about your business, what are the attributes of your best client, what type of marketing you are doing now, what's working and what's not working. The more you communicate, the better idea your broker will have when looking for the best data. There are lists for just about everything and not all lists are created equal.


Article Source: http://EzineArticles.com/?expert=Anita_Knight

Top 10 Reasons You Need a Coach

"Everybody needs a coach. Every famous athlete, every famous performer has somebody who is coach - somebody who can say 'Is that what you really meant?' and give them perspective. The one thing people are not really good at is seeing themselves as others see them. A coach really, really helps." - Eric Schmidt, CEO of Google

As a very successful CEO, why would someone like Eric Schmidt suggest that he needs a coach and so do you? I see executives every day who make incredible strides forward toward their goals with the help of an executive coach. Their work is inspiring, and I am honored to be part of it. But some of you may still wonder what a coach could do for you and why you should invest in an external coach for yourself.

Thinking about the key reasons that have power for supporting your success and growth, the Top 10 reasons for hiring an external executive coach are:

1. Your coach is there for you, your agenda, your goals. Your coach cares about your success, as you define it.
2. Your coach helps you get clarity around your goals, get inspired by them and what they mean for you, and maintain focus in your busy world.
3. Your coach looks for your blind spots and helps you see the impact you have from a new perspective and see new alternatives to move you forward.
4. Your coach is a source of ideas, knowledge, tools, cutting-edge thought, and a broad body of experience and perspective that helps you recognize challenges early, and discover new and creative solutions.
5. Your coach helps you grow as a leader by developing your awareness, your thinking, your knowledge base and your vision for what is possible.
6. Your coach will not judge you for what you say or do. You can be perfectly honest about your fears, doubts and concerns and your weak moments without repercussion. You can truly get out your feelings, worries and challenges and address them with your coach in a confidential manner. Your conversations are private so that you can tackle any situation - even those you don't feel you can share with anyone else.
7. Your coach supports you in being accountable for taking action on your biggest priorities. When you take on a new habit, behavior, style of communicating or other change to your ingrained habits, your coach is your partner for making new habits stick and addressing obstacles as they arise.
8. Your coach provides disciplined self-reflection on what you are doing and where you are going. You have structured time to take the larger view on your career, your business, your progress toward your big picture goals - and that is what will truly allow you to grow as a leader.
9. Your coach is your objective external sounding board to help you try out new thoughts, behaviors and ideas in a safe environment and giving you feedback on what is moving you forward and what appears to be holding you back.
10. Your coach is a witness to your success and encourages the discipline of measuring your progress and celebrating your achievements, and building confidence and accountability for your actions and decisions that move you forward in achieving your goals.

Article Source: http://EzineArticles.com/?expert=Laura_Huckabee-Jennings

7 Barriers to Effective Communication in Presentations

Many times, we think that finding the right words will bring about understanding with others. With differences in culture, behavior, and personal history, there are many ways that communication that seems clear and concise can fail to connect. Here are 7 ways that communication can go off in a wrong direction.

1. A lack of organization can confuse the people you're trying to deliver your message to. If you haven't clearly organized your thoughts, your listeners can be spending time trying to connect the dots and miss out on your real message. Make sure that you don't confuse your listeners.

2. A failure to make eye contact can make people doubt your sincerity. While you're trying to make your point, they can be wondering about your motives - wondering why you won't look them in the eye. You have no way of knowing what direction that might take them.

3. A monotone will give your listeners opportunities to take their thoughts elsewhere. Everyone has many distractions and all of them will bounce in and out of their thoughts no matter how significant your topic is. Even if what you have to say is important to your listeners, a monotone will cause you to lose contact.

4. Not engaging the audience in the presentation, especially if it's a long one, is a big mistake. The longer you talk without involving your listeners, the more likely they are to start missing parts of your message. Pull them back in with a question or an exercise.

5. Underestimating the value of stories. Even before we had language, stories conveyed messages in gestures and pictographs. Stories connect with common experience. That's why you can find the same kinds of stories across cultures. They are a universal way of passing on important values and concepts.

6. Excessive attention to notes or to slides is a show stopper. If the audience is where you want your message to go, you definitely don't want to make them feel left out. You've been at presentations where you can't help but wonder if the presenter would notice if you all left. Don't ignore the people.

7. Letting others take over your presentation. You've been in those presentations, too - the ones where some know it all seems to think it's an opportunity to take over and it turns into a battle for time between the presenter that you came to hear and the audience pirate. Maintain control.

Conclusion: Your presentation will be more effective and achieve the results you're after with relevant, clear, concise communication and a conscious effort to maintain the connection you have with your audience.

Article Source: http://EzineArticles.com/?expert=Joy_Montgomery

Ten Mistakes That Can Affect Your Business Success

So often people talk about the things that you need to do in order to achieve business success but very few ever mention the things and choices that a person allows to interfere with their progress and business. This article will focus on issues that business owners tend to ignore or continue doing without realizing that their success will be limited or destroyed over time.

1. Financial problems - If you have not set up your business with the proper procedures and backing, you will soon find that you are out of business. You need to have a Business Plan and the financial support that will allow your business time to grow in the start-up phase.

2. Relational - Many people surround themselves with people who drain their time and energy. If you have a business partner who is not working on the same goals as you are, it won't be long until the business will suffer.

3. Personal - Dishonesty, old negative patterns, untreated mental or physical ailments, family demands or hidden "secrets" can all interfere with your business success.

4. Addictions - When people have an addiction, it take priority over everything. In fact, alcohol or drugs can become a "first love" that steals reasoning and resources not only at a personal level but also from a business endeavor.

5. Incompetence/Inexperience - When you do not know what you are doing, mistakes can occur frequently. Your time and reputation will likely suffer as you try to clean up the mess!

6. Poor self-care - People who are tired, under nourished or ill are not able to reach their potential. As a result, everyone, including that person, the rest of the staff and the client suffer.

7. Lack of Focus - Many businesses fail because time and energy are invested in the wrong things. You need to know where to invest your attention so that you have good revenue and an acceptable bottom line.

8. Poor Service - Clients come to you in order to have their needs met. If this doesn't happen, they will not only look elsewhere for services but also spread the word that your business is not very helpful.

9. Inflexibility - You need to be able to adjust your ideas in order to improve the business. Stubbornness without consideration of options will kill a business in a world that welcomes change and new ways of doing things.

10. Other Psychological Factors - World trends and economic times can have a strong impact on how a business will do. If you are not motivated or able to handle stress, you will likely soon find that running a business can be an overwhelming adventure.
Article Source: http://EzineArticles.com/?expert=Linda_Hancock

The 7 Sections of a Business Plan

If you really want to improve your business, the best way to do it is to write a Business Plan. It is not the plan itself that is so important, although it is a valuable asset but the process as it makes you really think about the business and focus on the way that you will operate and grow the business in the future.

There are seven key topic areas in a good business plan as follows:

1. The Executive summary

Although this is at the beginning of the plan, you will write it last as it is an overview of the entire plan. Most banks will read it first or use it when considering future funding so ensure that you have the most important points of the plan written well. Include rationale for needed financing and how this will be used, the growth you will expect as well as the products and services that you provide and staffing required. Remember, you are writing this for someone who may not be familiar with the details of your business so be clear and and comprehensive but also keep it brief so the reader is not bored.

2. Mission statement

This is an enthusiastic statement or two that condense your motivation for doing the business and how others including clients, employees, staff and investors benefit.

3. Company description and history

This is a section where you will talk about when the business started and how it has progressed since then. Include past, present and future products and services that have been sold, and why you have a competitive advantage over similar businesses. Also include the type of business you have under the law (incorporation, sole proprietorship etc.) the physical location and number of staff you employ.

4. Market analysis

In this section you will be talking about your "ideal client" and how far your business reach has extended to this point. You will also outline the potential market you will reach with expansion and the trends that might affect greater demand for your goods and services. Describe the delivery methods you will use (in person, through physical products, internet etc.) as well as the reasons why people will make purchasing decisions (price, quality, trust etc.). Finally, describe the competition and how they attract the same buyers that you want..

5. Marketing plan

This section describes how you will advertise or promote your business in order to increase revenue. Include a budget to cover the costs of preparing materials and having them delivered as well as the pricing strategy that you have developed for the market.

6. Management summary and personnel plan

Here you will lay out the organizational structure of the company and job descriptions of each person. Talk about how each position is important to the business and how they will be reimbursed (salary, hourly wage, benefits etc.).. This will likely be the biggest expense for your business so calculate a figure for the entire year of staffing or contracting. If you are a solo professional, describe how you will get all the various aspects of the work done.

7. Financial statements.

You might it easiest to have software that will help you to create Balance Sheets, Profit and Loss statements and other reports that show the past years as well as projections for your business.

If you are confused or don't know what to include, there are many resources available in organizations, books and internet sites to help you with this.

Article Source: http://EzineArticles.com/?expert=Linda_Hancock

The 7 Most Powerful Moms in the Business World

Think business doesn't mix with family? A handful of the world's most powerful mom CEOs might beg to differ. Author Douglas Branson reported to The Wall Street Journal that in 2010, all but two female CEOs at the helm of a Fortune 500 company had children. Take a look at these businesswomen moms and find out more about these inspiring women.

Top Moms in the Business World

1. Patricia Woertz: The mother of three earned a tidy $15.5 million in 2010 as chairman, CEO, and president of agribusiness giant Archer Daniels Midland. Ranking at #27 on the Fortune 500, this top executive balanced family as she rose up the ranks.

2. Angela Braly: Another mother of three, Braly has made her fame as the chairman, CEO, and president of health plan giant WellPoint. She caught some heat in 2009 for raising health care rates in California by about 40 percent but of course understands first hand the importance of providing quality health care for a family.

3. Indra Nooyi: As the chairman and CEO of PepsiCo, this top businesswoman earns $15.8 million a year. But perhaps it's her two children that have helped convince her to pair with Michelle Obama in combating child obesity by pulling soda from schools.

4. Irene Rosenfield: At the helm of another kid-friendly brand, Rosenfeld earns $26.3 million yearly as the chairman and CEO of Kraft Foods. The food giant's recent hostile takeover of Cadbury is the CEO mom's latest move.

5. Ellen Kullman: In her first year as the chairman and CEO of DuPont, Kullman made the difficult decision to lay off 14.500 of her employees. The mother of three takes home $10 million a year and puts a heavy focus on innovation at her company.

6. Mary Sammons: This mother of two works hard as chairman and CEO of Rite Aid, a retail pharmacy battling flagging sales and a disheartening 11 quarters in the red. Sammons takes home $2.5 million yearly to do her job well.

7. Ursula Burns: This working mother took the helm of Xerox with a 17-year-old daughter and 21-year-old stepson in tow, becoming the first African-American woman to become the CEO of a Fortune 500 company.

Article Source: http://EzineArticles.com/?expert=Lela_Saz

Need A Worldwide Courier? 10 Tips For Getting It Right

used a courier before, then you may already know what you need to think about, and what you need to do. If not, then here's what you need to think about.

1. You'll need to know what you are sending. A small birthday present parcel will be less expensive to send that a pallet full of machine parts.

2. Couriers work on size and weight, so you'll need to know the size of your parcel, and its weight. Remember that you'll need to make sure to get the dimensions in the right order. Check the website to ensure that it's length x breadth x height. Getting it wrong can mean that your parcel is not the size you stated, which means you're likely to be charged extra for it.

3. When your parcel needs to arrive can help you to determine how best to send it. If you need your package to arrive as soon as possible, it will probably cost a bit more, than if your parcel doesn't need to arrive for a few days.

4. Where you're sending your parcel to makes a difference too. The time it takes and the cost are dependent on the destination of your package. Sending a parcel to France or a parcel to Germany is likely to be quicker and cheaper than sending a parcel to Australia.

5. Why you need to send something will also help you to decide which worldwide courier service to use. If you need to send important work documents then you'll want them insured and on a priority service, whereas you might want to send Christmas presents to friends and family abroad well in advance, so that it arrives in plenty of time.

6. No matter what you're sending, or where it's going to, you'll need to ensure that it's appropriately packaged. As well as to prevent getting damaged in transit, you won't want to be responsible for damaging other parcels.

7. Business users can save a fortune if they need to send brochures, parts, products or samples to customers and suppliers around the world. It's a good idea to check the various couriers' websites to see if there's a big difference in price and expected delivery time.

8. If you're selling products online, then you'll want to make sure that you're getting the best deal, in order to keep your costs down and pass the savings on to your customers.

9. Having a wide choice of worldwide couriers will help you to choose the best one for your needs. You might need to choose the cheapest or the most efficient.

10. Value for money is essential, but the cheapest might not be the best for you. Perhaps you'll need something to arrive tomorrow, and so the costs will be less important.

Article Source: http://EzineArticles.com/?expert=Robert_Berry-Smith

Cork Boards - A Top 10 List

Cork boards are for keeping messages and appointments. Whether you want to organize your home, office, school, or lobby, bulletin boards inform without taking away from your presentation or decor. This list compiles ten different facts that you may not know about cork boards to help you in making the best display possible:

1. Inexpensive. Even though economically priced cork boards don't sound like they are very flashy, most companies sell traditional-style bulletin boards at reasonable prices. The classic framed, open face board is often included in economic lines. Factories constantly manufacture unframed, metal, wood, and rounded frames. With such a high supply, the market price is constantly driven down. Cheap 18" x 24" to 48" x 96" boards are always available. Furthermore, many bulletin boards are being made with less expensive, cork substitute surfaces. These boards, although economic in price, function as well as any other.

2. Surfaces. More and more distributors are expanding the concept of bulletin boards. The term "cork board" has now grown to include chalkboards, black boards, fabric boards, tack boards, letter boards, white boards, and dry erase boards. You can still buy a bulletin board with a cork surface, but you're no longer restricted to simply pinning messages on a cork background. Combination boards exemplify this new trend. Mix and match bulletin mediums with a combination cork and chalkboard or cork and whiteboard display. Your choices are limitless.

3. Deluxe Designs Enhance Elegant Displays. Do you think that cork boards downgrade your overall decor? Many companies manufacture message boards with upscale frames. Choose from bronze, silver, gold, and black polished metal frames. High-end woods, such as cherry, mahogany, and walnut, are also being used to add flair to traditional cork boards. Share upcoming events at a country club, hotel, or museum while maintaining an elite image.

4. "Green." In an age when everyone has become more environmentally conscious, cork boards have evolved. Bulletin boards with recycled rubber or other surfaces are environmentally friendly. Recycled rubber surface bulletin boards are often cheaper to make than regular cork boards and they function just as well. Rated "green" message boards are known to last years without getting worse for the wear. Many of these notice boards have attractive confetti or speckled surfaces to match your message area.

5. Self-healing. Almost all of the cork boards available online and through retail stores come with "self-healing" technology. A self-healing backer automatically closes up surface holes and prevents from pushing tacks too deep into the cork. In addition, cork boards with this technology resists against staining and fading. These systems make for long lasting notice board displays in your school, home, or office.

6. Wall Mounting and Floor Standing. Do you have floor space restrictions? No matter how big, notice boards are easy to mount on the wall. Many manufacturers include screws, anchors, and other technology to fix notice boards to any wall. If you are looking to minimize the clutter on your wall, then a floor standing model is what you are looking for. Notice boards stand on easels or posts for your convenience. Many easel bulletin boards have trays for accessories, such as markers, erasers, push pins, and paper. Pole standing cork boards come in a variety of sizes and are available with literature stands or brochure holders. Either way, your bulletin board is sturdily in place.

7. Keep Notices Safe. One of the main problems with public bulletin boards is the fear of vandalism. However, many bulletin boards come with a locking case, or front, for security. Protect your notices, awards, advertisements, menus, or announcements with a durable lock and key system. Furthermore, there are acrylic front cases that make it almost impossible for passersby to break into your display. Rest easy with these message boards.

8. Exterior Rated Cases. Manufacturers construct certain cork boards specifically for outdoor use. These bulletin boards feature rubber gaskets and cell-foam edges to protect notices from rain, snow, sleet, or hail. Schools and community centers use exterior rated cork boards to keep the community informed about upcoming events or outdoor policies. Outdoor restaurants keep menus in these outdoor cases. The frames are rust resistant, so they are guaranteed to hold up against any of the elements. Simply mount these message boards on any outside wall and it will take care of itself.

9. Want to Advertise a Slogan? Headers make getting your name, slogan, or logo simple. A cork board case with a header gives you the option of placing a custom message or title to organize your messages. Headers come with one, two, or three panel cork boards in a variety of sizes and styles. Slide vinyl letters, often included with the cork board, into the ridged header area. Whether you have an indoor or outdoor display, a header is a sharp addition to you bulletin board.

10. Illuminate Your Announcements. Backlighting and LED frame lighting adds effect and attraction to your cork boards. Outdoor bulletins get extra illumination at night. Awards and notices garner more attention while in indoor displays. Choose a simple 20 watt bulb for a little extra light. Get a hanging board with elaborate, multi-colored LED effects for nightclubs and bars. Many of these models don't need to be plugged into an electrical outlet, so you are free to place these boards anywhere.

Cork boards function well in almost any situation. Based on this list of different uses and styles, there is sure to be a bulletin board suited for any user. Although their prime function is to disseminate information, these boards can add a great deal to your environment without breaking you budget.

Article Source: http://EzineArticles.com/?expert=Brian_C_Morgan

Staff Rewards and Incentives - 10 Traps To Avoid

Do you have a staff rewards and incentives scheme in your business? If you don't, you should have. Rewards and incentives work well to improve staff performance. But there are some major traps. Make sure you avoid these.

1. Lack Of A Clear Business Connection

Rewards and incentives have two purposes - to reward staff and to enhance your business. You need to make the connection absolutely clear. And ensure that your employees understand that connection.

2. Rewarding Behaviour

This is a common error. Your scheme must reward performance: what staff achieve on the job. Rewarding behaviour: what staff do that may or may not achieve results debases the incentives. In other words, rewards sales closed, not calls made. Reward orders processed and delivered, not paperwork completed.

3. Rewarding What Staff Are Already Paid For

You pay your employees a basic salary. In return, you expect a certain level of performance. When an employee meets your performance expectations, he or she has satisfied the "basic contract". Do not pay incentives for performance that you could reasonably expect in return for basic salary.

4. Absence Of An Incentive Scheme

Rewards and incentives should be contained within a system. The system or scheme should have specific goals. The value or nature of the reward should be clearly related to the goals. One off "slings" of cash or time off or gifts may be a minor part of the system. But they are not a system.

5. Lack Of Transparency

Your scheme should be open and available to all involved. No secret entries: no "little black books": no "wink, wink, nudge, nudge" tricks known only to a few favoured employees. Every employee involved should know the rules. Records of rewards, who received them, why and their value should be easily available to all. This means that you must establish accurate and reliable records of achievement.

6. Ignoring The Team

Many otherwise sound staff rewards and incentive schemes focus entirely on individual performance. They ignore contribution to team effectiveness. This allows individuals to manipulate the scheme to their own advantage. It may damage the business too. An outstanding salesperson may earn massive incentives while the sales team fails as a whole. That's not good for your business. Include team goals when assessing reward entitlements.

7. Lack Of Performance Standards

It's so simple. If you lack clear, demonstrable, measurable staff performance standards, you can't have a totally successful rewards and incentives scheme. Both you and your staff must know the standards. They must also know "how they're going" in meeting them. And they must be perfectly clear about the relationship between standards and rewards. A scheme without performance standards is about as useful as a clock without hands.

8. Absence of Self Assessment Measures

Every employee should know how they're progressing towards earning incentives. Make this information available weekly and, if possible, daily. It's in your interests to enable employees to "self assess". They need to adjust and improve their performance without your intervention.

9. Using Only Monetary Rewards

Money is only one form of reward. Depending on the personal income tax system in your state or country, large monetary rewards may even be a disincentive. The following cases may help.

Case 1. In a "production line" type repair business, overall performance goals are set each month. These are related to inventory levels. When the prescribed inventory levels are attained before month end, all staff earn a day off on full pay. This is additional to specific performance based monthly rewards.

Case 2. In a home maintenance business, tradesperson receive rewards for customer commendations, upsells, referrals and various specific examples of superior performance. Recalls, where a customer requires the tradesperson to return to adjust something they should have fixed on the original call, cost the company dearly. When a tradesperson completes a month with no recalls he or she receives a half day off on full pay.

10. Limiting The Range Of Rewards

You can reward virtually anything you like. But it must be clearly business enhancing and performance based. Don't limit yourself to only one performance measure. If the performance saves or makes extra money or adds value to the business, consider it as part of your scheme.

Article Source: http://EzineArticles.com/?expert=Leon_Noone