Sample 1 - Blog #business decisionsSample 1 - Blog #business decisionshttps://lololol.zohosites.com/thoughts/tag/business-decisionsSat, 03 Aug 2024 03:55:37 -0700http://zoho.com/sites/<![CDATA[The Five Dysfunctions of a Team: A Leadership Fable]]>https://lololol.zohosites.com/thoughts/post/The-Five-Dysfunctions-of-a-Team-A-Leadership-Fable
What are some of the pitfalls that teams face as they seek to grow together?

There are many factors that can contribute to a team's dysfunction, but these five are some of the most common. If you're looking to improve your team's performance, be on the lookout for these dysfunctions.

  1. Lack of trust.
    The first and most important dysfunction on this list is a lack of trust. Without trust, team members are less likely to be open and honest with one another, which can lead to communication breakdowns, misaligned goals, and resentment. If you want your team to be successful, it's crucial that you cultivate an environment of trust.
  2. Fear of conflict.
    If team members are afraid to speak up or disagree with one another, it can lead to a lack of creativity and productive debate. Without healthy conflict, teams are more likely to make decisions that everyone is comfortable with, even if it's not the best solution.
  3. Lack of commitment.
    If team members are unwilling to commit to decisions or put in the extra effort to make the team successful, it can lead to a decline in performance. When team members lack commitment, it's often because they don't feel ownership or buy-in for the team's goals.
  4. Lack of accountability.
    If team members are not held accountable for their performance, it can lead to a decline in standards and a general feeling of apathy. When accountability is lacking, it's often because there is a lack of clear roles and responsibilities.
  5. Inattention to results.
    Finally, if team members are more focused on their individual goals or objectives, it can lead to a decline in team performance. When attention to results is lacking, it's often because the team is not working towards a common goal. These are just a few of the many dysfunctions that teams face. If you're looking to improve your team's performance, be on the lookout for these issues and address them head-on. 
(Ref source: The five dysfunctions of a team by Patrick Lencioni)

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]]>Fri, 04 Jan 2019 10:20:13 -0800<![CDATA[How to Ride Out Hard Financial Times as a Small Business Owner]]>https://lololol.zohosites.com/thoughts/post/How-to-Ride-Out-Hard-Financial-Times-as-a-Small-Business-Owner



Both boom times and recessions come and go, and the toughest businesses weather the storms and come out at the other end fighting fit. SMEs are at great risk from financial hardship as the burdens of running your small company can sometimes be dramatic, and come without the financial buffers and safeguards that larger companies have more access to. However, there are ways to help ensure you stay afloat through your trickier periods. Here’s our quick guide to getting through.


Avoid Further Debt

In lean times, cash becomes your best friend. Avoid making purchases which require incurring debt to access, and limit all expenditure unless you are convinced it will lead to greater cash flow than it is costing you at this moment. If the item you are purchasing cannot effectively pay for itself in revenue earned, you should be deferring the purchase until a later date.


Review with Your Financier

 Be honest and open with your financial advisor so they can help you weather the financial storm. Provide any information they request to avoid delaying guidance, which could be helpful in avoiding losses. If you have any direct concerns, write them down and share them with your advisor so they can give practical and tailored advice.


Budget, Budget, Budget

It is highly likely you already stick to a business budget, but this is the time to keep your budgeting ethos as rigid as possible. As the owner of an SME, ensure you apply the same principles to your personal accounts to avoid draining them to cover business expenses. Your own financial stability is closely tied to your company, so recognise this link and budget accordingly.


Deal with Problems Swiftly

It can be tempting to run from taking a long, hard look at your finances during times of hardship. However, dealing with problems as they arise, having sought the correct guidance where applicable, ensures debts don’t spiral out of control. Be cautious in your future spending and cut anything unnecessary, but remain culpable and professional when it comes to honouring necessary existing commitments. 


Keep a Clear Head

Try not to panic. Worrying cause you to make poor business choices and the impact of those will last far longer than your current crisis. If you need to, take the weekend off and give yourself time to adjust to troubling financial times – you’ll return refreshed and ready to fight on. 

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