You can’t grow your business without a strong team, says Sara Gilbert, founder of Strategist, a Montreal-based consulting firm for financial advisors.
Your assistant, your receptionist and other team members co-ordinate everything that goes on behind the scenes so you can focus on the revenue-producing activity you do best — such as meeting with clients or prospects.
With Thanksgiving around the corner, now is a good time to consider showing your team members that they are appreciated:
> Say it, or show it
This is probably the most obvious method, but it is used too sparingly. Advisors often wait until someone has gone far above and beyond the call of duty before they will express their thanks, Gilbert says. But team members should be thanked on a regular basis.
“Say why you’re saying ‘thank you’,” she says. “People want to feel it’s true, profound and honest.”
Giving a reason will demonstrate your sincerity as opposed to just saying it to be nice.
Sometimes you do not even have to say a word. When Gilbert was an associate, she recalls, her advisor brought her a coffee every morning.
“It made me feel a little special every day because he didn’t have to do that,” she says. “That’s how people feel appreciated.”
> Get team members involved
Giving and receiving feedback at weekly meetings is a way to make everyone feel as if they have a hand in your success.
But sometimes the conversation at meetings is not all positive. You have to share the gain as well as the pain with your team, Gilbert says. For example, if you were unable to close a large account with a prospect, ask for suggestions on how to improve the strategy.
“This way, they will feel actively involved in the business,” Gilbert says. “They’re not just there to earn a paycheque. They’re there to make a contribution.”
> Celebrate
Whether it is to celebrate a holiday or adding a new client to your roster, Gilbert says, take your team out for a meal at least once a year.
“[Have a] big dinner in a restaurant that maybe the team would not go to by themselves or could not afford,” Gilbert says. “If you want to push it one notch further in personalization, have a big dinner in a nice restaurant with their spouses.”
Another way to celebrate good work is through gift cards, such as those for a restaurant or a spa. If a team member has shown many years of service, pay for a weekend away or a vacation he or she has always wanted to take.
Funding these celebrations should be a part of your budget, whether you have had a prosperous year or not, says Gilbert: “The team worked as hard, if not harder, in that downturn year.
“That’s what being a business owner is all about,” she continues. “You’re there to protect your team and that creates loyalty.”