How To Keep Your Team Motivated

Every startup company faces highs and lows. When one thing goes well there will be fives things that won’t. As a leader, you have a responsibility to your team as well as your business. While you may be ready to devote all of your time and energy to this venture, your team might not feel the same way. So, what can you do to keep your team motivated? Here are a few tips you can use:

(Curated from Tech.co)

First, you should make sure that your team is not overworked. Startup companies frequently don’t enough resources to support a full staff so team members might have to take on more responsibilities. As the manager, you need to recognize this and make sure your team is treated fairly and given all the assistance they need.

“There’s a lot to be done, and someone has to do it. Your team members probably understand the weight that’s been placed on their shoulders. This takes a huge mental toll on them because they understand what will happen if they can’t successfully deliver. That stress will run them into the ground if they aren’t getting enough breaks. Make sure everyone is getting adequate time off. If someone is having a hard time with something, do everything you can to make their working experience easier, even if it means a two-hour lunch break.”

Next, you can reward your team with well-deserved celebrations. Show your appreciation by bringing donuts and coffee or beer and pizza. These simple gestures are great for morale.

“Believe it or not, there are actually some problems that can be fixed with pizza and beer. Startups can be overwhelming, grinding everyone’s fragile nerves. You need to celebrate your accomplishments together. You don’t have to break out fancy budget-busters – simple gestures are enough to show that you care. Happy moments are a necessity if you want to keep people from resenting their work.”

Finally, getting to know your team members as individuals instead of cogs in your company will also help you find ways to motivate them. If they feel comfortable with their team leader and bond with each other, work becomes more enjoyable.

“It can be difficult when work is piling up and there’s no sign it will let up anytime soon, but reaching out is something you can’t afford to blow off. What are their hobbies outside of the general “reading” and “spending time with loved ones”?  What are they looking to accomplish in the next five years? What things are they truly, deeply passionate about? That knowledge can inspire you, allowing you to provide them with projects that best suit their potential. At the same time, they’ll understand that you care and are supportive.”

What do you do to motivate your team at your startup?

How To Become Your Own Boss

Many people start out in 9-to-5 jobs where there are tons of people working above them and progressing up the hierarchy can be a lifelong battle. But what if you don’t want to wait a decade or more to become your own boss? The quickest way to become your own boss is to start your business. Here are a few steps to take if you want to transition to becoming an entrepreneur:

(Curated from Pittsburgh Business Times)

1. Before you quit your job and start working on a developing a business idea, you should make sure you’re comfortable with taking risks. Understanding your decision-making process will help you determine whether you’re capable of dealing with risk.
2. Research everything before you take the plunge into starting a new business. When you  understand your customer and your audience, you’ll be able to develop and deliver your business better.
3. A big part of starting your own business is making sure you have a flexible personal life. Becoming your own boss might require unusual hours and irregular compensation for your work. You should be able to answer these questions:

“Do you have savings you can live on? Are you prepared to reduce your living expenses? How much time are you willing to give your business? For example, are you prepared to pass on Saturday night plans when duty calls?”

4. Once your personal life is ready for the challenges of entrepreneurship, develop a solid business plan. Having a well-researched and effective business plan will help keep you grounded and on track.

“Treat your business like a business. Carve out your schedule and workspace. It’s hard to be disciplined when you’re defining your day from scratch every morning, so plan your time. And set up your home office, garage or co-work space in a way that’s exclusively for running your business.”

5. And finally, start networking. You can’t do everything yourself so start making connections and find people who can help you launch your startup.

“Build your network in a meaningful way. To grow, you’ll need a healthy ecosystem of vendors, employees, partners, advisers and advocates. Collaboration is key, so be certain you have a rich and growing network to draw upon.”

How is your new business going? Please share your experience with us!

Why Baby Boomers Should Consider Being Entrepreneurs

Millennials seem to dominate as entrepreneurs in the world of startup companies and innovative businesses. In reality, however, baby boomers are significantly more likely to plan launching a new business in the next year than the younger generation. Only 24.7% of people ages 20 to 34 are becoming entrepreneurs compared to over half of people ages 45 to 64.

Bill Zinke, founder and president of Enrich Life Over 50 and co-author of “The Evolution of Adulthood: A New Stage,” gives several reasons for baby boomers to consider joining or founding a startup company.

(Curated from Pittsburgh Business Times)

• As a baby boomer, you bring years of experience to the table, which gives you an advantage over younger people. With more experience comes better judgement and a better understanding of what you’re getting into.

"The older people have what I call double ESP — experience, expertise, seasoned judgment and proved performance. … That is something that the people ages 20 to 34 don't have because they haven't been in the business world. This gives older people a leg up."

• People with more experience have also had more time to build up and expand their network. You  can skip the step where you have to establish a reliable reputation because you’ve probably already done it.

"In many cases they have a contact base of people in the business world. They have a reputation [and] standing. They're using business contacts to reach out to potential sources for financial support. ... They may have contacts in the banking world. And they have a track record of performance."

• Taking risks and starting a new business is fun and exciting. After raising a family and/or working for years, you finally have time to realize a dream or become your own boss.

"Boomers often decide they've been successful enough and want to do something different. They've always had this burning idea of doing x, y or z...so they start a new business. And they've demonstrated that older people want to continue in productive activities ... and not necessarily for the money."

If you still aren’t convinced, Zinke provides several more reasons for baby boomers to become entrepreneurs.