Business Advice – The 5 Powerful Questions That Underlie Peak Performance

peak performance

Achieving peak performance includes every team member fully-understanding their role, how best to apply their skills, developing new skills to meet new demands, and increasing their performance levels as a member of a team. All of these situations demand clarity in the mind of the performer – the person tasked with delivering results.

The gained clarity then depends on individuals and teams generating their own personal commitment to work to increase their own peak performance and productivity. These 5 questions help to generate that commitment.

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Three Ways to Encourage Enthusiasm in the Workplace

enthusiasm

Creating a workplace full of ambitious, enthusiastic staff members is a goal every growing business has. When your employees feel appreciated and respected, they become more motivated to accomplish everything and maintain a positive attitude about going to work and in return, you reap many benefits like increased productivity and decreased turnover rates. This is why strengthening your employee engagement is essential to building a thriving business. Here are some successful practices to get you started to building enthusiasm!

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Feeling Overworked? Four Ways to Tell it’s Time to Bring in a Business Partner

The difficult aspects of running a business can catch up to even the most skilled professionals. Perhaps you’re being held back by pride or maybe the false idea it’ll cost you more to take on an additional team member, but seeking out a business partnership can do wonders for your company. Some of the most successful business owners to exist had a side kick. Where would Walt Disney be if he didn’t have the support of his brother? Would we have amazing products Microsoft if Bill Gates didn’t team up with Paul Allen? If you’re feeling overworked, here are four key signs to telling you it’s time to bring in a business partner.

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SWOT: An Important Tool for Analyzing your Business

swot

As the owner of a business, you are constantly looking for ways to analyze your organization to pinpoint areas for improvement. One valuable tool that can serve this purpose is a SWOT analysis. A SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats) is a method of evaluating the internal facets of your operation, as well as challenges that outside players and influences pose to your company. Here is a primer on how to conduct a SWOT business analysis.

Strengths

This aspect of the business analysis deals with the internal things that your company does well. Think about some of the unique traits that your organization has that separates it from the competition. What are some valuable experiences that your firm has emerged from stronger because of the challenge?

Weaknesses

This facet also references internal issues that your company faces. Some key questions that you need to pose regarding your growing business relate to areas that you need to improve in and what resources that your company lacks which could possibly strengthen your operation. An important question to consider during this stage of the analysis relates to your bottom line. What are some areas or departments that are noticeably less profitable than the others?

Opportunities

Moving along to external influences, opportunities are factors outside of your business that contribute to achieving your objective. One very salient question to pose at this juncture: What are the established business goals that you are working toward? With the constant growth of technology, how can your business capitalize on the latest tech trends? Also, use this step to consider your current customer base. Are there potential customers that you aren’t reaching?

Threats

For this last area, think the external version of weaknesses. Threats are factors that present a challenge to your enterprise, but that you have no control over. Examples of external threats are the current (or future) economic climate and different trends in your company’s industry.

After completing a successful SWOT analysis, you should use the data gleaned from your exercise to identify new strategies and formulate short, medium, and long-term goals for growing your company and achieving future success.

Remember, running a business successfully does not need to be complicated.  Keep it simple!

For more valuable articles to help you successfully manage the challenges of growing your business profitably, please search our blog at our website www.portalcfo.com.