Business

These are the 4 silent killers of your business

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When it comes to your health, high blood pressure is known to be a silent killer. Left unattended, it can be combined with other conditions such as high cholesterol or diabetes, which can lead to cardiac arrest.

These are the 4 silent killers of your business
These are the 4 silent killers of your business

But what about your business? Are there also silent killers? The consultant Steve Blue It says yes.

“Most companies have at least one silent killer on the lookout,” says Blue. “And one alone may not be fatal, but together they can kill your business.”

Blue has four signs that could indicate that your company’s health is at risk:

1. Meetings are parties between friends

When you’re in a meeting or video call, is your team just smiling or comfortable enough to challenge each other? Meetings that are too polite (no disagreement, conflict, or debate) can be a sign that something is wrong, says Blue.

“If there is no conflict, it could indicate that your team doesn’t care or isn’t passionate about what they’re doing,” says Blue. “You can’t move a company forward without conflict. The absence of conflict shouldn’t be your goal, but positive conflict. “

s need to motivate and train their employees to be part of meaningful and measured discussions.

2. Innovation is on vacation

What percentage of your sales are generated with services or products that were introduced in the last two years? If it’s less than 20 percent, your company’s innovation could die out and it may be time to get it going again.

“Innovation isn’t a goal, it’s a requirement,” says Blue, adding that innovation is not just about new products. it also applies to internal and external processes.

At Blue’s Miller Ingenuity company, employees spend the last hour of the day at the company’s starting station brainstorming. “You have to create time and space for innovation and allocate resources for it,” recommends Blue. There’s also an annual innovation award that awards $ 5,000 to the employee who contributed the best idea.

3. The customer is always right

When a conflict arises between your company and a customer, is your salesperson always on the customer’s side? Although “the customer is always right” has long been a business mantra, Blue warns entrepreneurs to use it with caution.

“Your customer can put you out of business by zeroing your margins if they can get away with it,” he says. “Your customers could leave you in a minute if they find a better deal elsewhere. Why should sales reps work for your customers? “

Instead, train your sales reps to build deep relationships with their customers so that the relationship and service factor are worth the cost when they have to deliver bad news like a price hike.

“Even if you want your team to take care of your customers, they have to be loyal to the company,” says Blue.

4. Toxic employees

We have all come across rude salespeople, flight attendants, and waiters who act like your requests are impositions, but do you have one of those toxic people on your team? Having just one can affect your business and end years of loyalty. In fact, according to Blue, he’s one of the worst silent killers.

Review your organization and ask your team and customers who they think is toxic. People know Once you’ve identified them, let them know that they need to change their behavior immediately or they won’t be able to stay. It sets a new standard of behavior for the entire company and trains employees in good customer relationships.

“When you’ve cleaned the house, keep in mind that weeds will grow,” says Blue. “You have to be ready to cut them again.”

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