June 8, 2022
From the first overall pick in the 2003 NBA draft to the first active NBA player to become a billionaire — what can’t LeBron James do?
In this week’s edition:
SMELLS LIKE TEAM SPIRIT
Some teams just have that “it” factor — like the ‘72 Miami Dolphins or the Average Joe’s. Within a company, that “it” factor might look like a team that shares the same vision, consistently exceeds performance goals, and genuinely (gasp!) enjoys each other’s company. That’s essentially the definition of a high-performance team, a group of goal-focused individuals with specialized expertise and complementary skills who collaborate, innovate and produce consistently superior results.
The question is: why are some teams high-performing while others struggle? Or, why do some simply work while others seem constantly at odds?
Great question. Care to elaborate?
Sure. While no two teams are exactly alike, most of them can credit their success to a shared set of values or traits. Here are the top six characteristics of a high-performing team along with tips on how you can foster them amongst your employees:
THE NEED FOR SPEED
Let’s say you’re bringing on a new sales agent.
It's tempting to let them hit the ground running and start making sales ASAP. The faster they get started, the sooner they’re generating revenue. Makes sense right?
But it’s actually in your and your new hire’s best interests to get them into a comprehensive onboarding program. Not only will this program set your newest agent up for speed and efficiency, but employees who have exceptional onboarding experiences are 2.6 times as likely to be extremely satisfied with their workplace — meaning they’ll be more keen to stay and recruit other sales agents.
And the best way to onboard new sales agents? A sales training platform.
Why this specific type of platform?
In just about any industry, onboarding means providing training on the processes, policies, and procedures that run your business. Arguably, you can do that in any old-school training manual.
But when it comes to sales, how do you teach the art of closing the deal? The persuasive techniques and communication strategies that separate low performers from high-performance sellers? You want a training platform that your employees can access 24/7 for all their need-to-knows and how-tos — ones designed specifically for fast and efficient sales.
So, which is the best platform?
There are hundreds (if not thousands) of sales training platforms to choose from. But we can help you narrow down the list. For platforms that can positively impact your team’s sales, here are some features to look out for:
👉 Need a sales training platform? Try Trainual for free!
WHY SO SERIAL?
Who are serial entrepreneurs?
A serial entrepreneur is someone who starts multiple businesses. This might look like selling or stepping back from one business to start another, or running multiple businesses at a time.
Who’s most likely to become a serial entrepreneur?
As you might imagine, there’s a certain “type” of person who’s more likely to try and launch multiple companies. They often have a strong vision, problem-solving attitude, high drive, adventurous spirit, and restless curiosity.
While you might be inclined to see serial entrepreneurship as rare and out of reach, almost one-third of self-employed people report that they’ve run more than one business.
How to become a serial entrepreneur:
If the idea of shooting for multiple stars piques your interest, here are a few pointers for getting started:
How are you feeling?
If you’ve been having problems sleeping or dealing with above average stress, you’re not alone. In a recent survey of small business owners by Capital One Business, 42% reported that they are currently experiencing burnout (or experienced it within the past month).
Burnout — AKA chronic stress that is not successfully managed — can have a negative impact on mental well-being and lead to feelings of exhaustion and resentment.
Why is this happening now?
In short, COVID. According to the survey, SMB owners are dealing with burnout “as a result of navigating pandemic-related disruptions and fluctuating mandates across the country for nearly two years.”
And once you add in recent problems like rising inflation, supply chain issues, and labor shortages, it’s easy to understand why business owners are feeling overwhelmed.
I might be burned out. Can I do anything about it?
It can be tough for SMB owners to confront the idea of having burnout, especially because a good portion don’t have much help. More than 60% of SMB owners reported working longer hours, and 26% stated that their work-life balance is worse compared to pre-pandemic times. And 81% of small businesses have zero employees — meaning everything falls on the owner.
But there’s hope on the horizon. More than half of SMB owners expect their work-life balance to improve in the next six months; 59% are just as motivated (if not more so) to grow their businesses today compared to before the pandemic.
And healing burnout is completely possible! With some dedicated break time and a good support system, you can handle that burnout and get reinvested in the passion of growing your business.
IN CASE YOU MISSED IT...
Going for a drive? A run? Listen to the hottest podcasts to catch up on all things small business: