Edmonton Business Coach | Money Isn't Everything
Hi. Welcome back to the inspired method marketing on YouTube. We are your Edmonton business coach. Karen, this is Trevor and we’re going to be talking about money isn’t everything today we’re going to be talking about that.
Mary Kay Ash said that pretend that every single person you meet has a sign around his or her neck that says, make me feel important. Not only will you succeed in sales, you will succeed in life. So true. I mean this for me, that’s definitely a core value of mine is feeling like you’re important.
Buyers are less concerned with the qualifying topics. Salespeople are usually most interested in just one in four. Want to discuss budget, authority and timeline that’s coming from HubSpot.
Lots of business owners think that money is the most important factor for employees. As the Edmonton business coach, we know there are actually a lot of factors that are employer important that people are looking for to be met when they’re deciding who to work for and what company that they want to align themselves with.
Is being the top wage and your industry sustainable?
That’s a really good question. The answer is no, it’s just not sustainable. Because if you, if your business relies on having highly skilled, highly talented individuals and you have to pay them the top, top wage number one, you can’t scale that. You just can’t. And if you’re at the very top of the wage range and your costs, your competitors are somewhere in between, then they’re going to win every time, right?
We advise as an Edmonton business coach that you want to be able to have the lowest possible skilled worker doing the highest, work in your business and that is going to come through training through systems, through checklists, and having multiple people able to fulfill that role. If you’re relying on one highly skilled person, number one, if they’re the kind of person who is looking for the top dollar, they’re going to find a more lucrative project somewhere else or go over on their own and then you’re going to be stuck looking for that person again.
Whereas if you are able to, to train, less expensive people, let’s say their wages, lower wages and train them to do higher levels of output, then you can win and you can scale.
Where does making progress rank with most employees?
People want to see stuff happen. They want to, they want to see the chips fly, right? Yeah. People want to see progress in their work. They don’t want to just be doing, you know, mundane things day in and day out without any and without seeing the difference they’re making. Right? So let’s say, I think one of the most boring jobs one could have would be in a manufacturing plant. Okay. Doing the same repetitive tasks day in, day out, week after week, month after month. But if every day they get to see how the team is doing, how they’re performing, are they reaching their numbers and targets and then there’s some kind of, you know, carrot at the end of the, of the achievement, then you know, that that gets people more excited. Right. That I think as an Edmonton business coach, is what people need from their job and need from their employment is to know that they’re making progress and making a difference. True.
Does personal progress and career progress matter as much as company progress?
Yeah, I, I do believe that it does because people want to, we’re, we’re not just mano chromatic. Yeah. It’s not just a machine. When you’re thinking of a business, there’s people in that business. Yeah, exactly. And like we’ve mentioned before as the Edmonton business coach, the people in your business are like a family, like a tight knit group. So people want to grow in their career, they want to make personal progress in their lives and they do want to see the company grow. So it’s gotta be a balanced, um, type of approach to doing that.
And people want to feel that they’re making a difference not only in their life but in the lives of those around them. Um, the lives of our customers, that that makes a big difference when people are choosing a place to work and stay there. Yes.
So where do you draw the line between mentorship and being a life coach?
Well, that comes down to, you know setting the expectation, right? Um, you know, you’re not going to be there to be there. Their marriage counselor or a life coach, you know, helping them with the major decisions in their life. But you can mentor them on, you know, uh, their performance and you know, how to improve their mindset, you know, steer them down the pathway of personal growth without, you know, giving them particular, you know, a life coach type of sessions. It’s more about being the Edmonton business coach, you know how they can do better, be better and you know, really mentoring them up to be a leader in your office, a leader in your business and not necessarily, you know, helping them with, um, you know, the, the deep, deep questions of life. That’s not where we’re there for. No. Right.
No, we’re not. That takes a different expertise. Yeah.
Do most employers consider training and expense or a cost savings investment?
Well, as an Edmonton business coach, we can tell you that most business owners see training as a waste of money. They don’t see it for what it really is. I know that, uh, there is a good quote by Zig Ziglar. I’m not sure if he said it or if it’s just an a story he told. Someone asked the question, what if we train our people and then they leave and the other guy pipes up and says, well what if we don’t train them and they stay? You tell me what’s worse. Do you want an untrained goon on your production line or you know, building homes for you and you know, dealing with your customers and they stay forever and tank your business? Or do you want someone who, you know, maybe you train them and they either become your competition maybe or they go work for the competition at least as long as they’re with you, they’re learning your systems, your processes, and just becoming better and better.
True. Does meaningful work help retain employees?
Yeah, it sure does. People want to be part of something bigger than just themselves, right? They want to know that the impact they’re making in their work makes a difference. For instance, if you’re thinking about a home builder, right? Someone who builds houses for a living and as their business, it feels good to know that, you know, at the end of the day you’ve built more walls, roof rooms in the place. And by the end of the project, you build a place where someone is gonna live, possibly their forever home.
They’re going to raise a family and uh, perhaps, you know, start businesses and just see their dreams come true. You can feel good that you know, hey, I contributed to the betterment of somebody else’s life. Whereas if you’re doing work that is not as meaningful, typically those are the lower paying jobs and people, those are more transitional jobs, right?
They work for a short period of time, then they’re out. So I can say as an Edmonton business coach, that the more meaningful, that more meaning that people can place on the work they’re doing, the more likelihood they’re going to stay this extra time off with pay help with um, employee retention. It’s one of those things that can definitely help because you want your time off to matter, right? And if you’re working hard and doing a great job and you’re able to create that cushion, then yeah, that could be one of those things that that is the deciding factor for someone to want to stay with you because everybody needs time to recharge, right?
If you work, work, work, work all the time and you don’t get that, that chance to recharge your batteries, you’re just going to, you know, fizzle and burnout. Um, having that chance to, um, you know, not worry about, you know, losing a paycheck if you go away on a vacation. Um, I think that is a very good way to keep people engaged. Yep.
So are flexible hours, something that is valued by employees?
Definitely. They, like in certain industries it’s very good, especially if they’ve got, you know, to take care of childcare and things of that nature. Um, it can be very positive for them to know that, you know, I’ve got some, some different hours I can start and finish. As long as they’re getting the job done and they’re doing what they’re supposed to be doing and not wasting time and they come in, they nail it, they get in and get out, then that’s good. As an Edmonton business coach, I see a lot of businesses nowadays who allow people can telecommute, right? So they just do everything, uh, maybe two or three days a week online as opposed to in the office. So there’s definitely benefits to that.
How does the work environment help with retention, Edmonton business coach?
Work environment and well, going into a nice place to work. If you’re in a dark, dingy, you know, dirty place with a, you know, bad atmosphere and grumpy people, you know, that affects you mentally. Um, if you wake up every morning and you’re dreading going to work because of, you know, the, the environment that you’re in, whether it’s the physical environment or the personality wise environment, um, it, uh, it can make or break someone’s decision to stay long-term and be happy in their job or to get out of there. Right? Yeah.
Do you have to do all of these things that you’ve just talked to us about?
Nope. You do not have to do all of them. Um, if you did all of them, you’d be wow. Superboss and Super Company and uh, you know, some, some companies may do this, but they usually have a large enough team to be able to facilitate all of that in a lot of different moving parts. But no, just pick what’s going to work for your industry. Right. Obviously, if you’re in construction, someone telecommuting just as, that’s not gonna work. Right. Um, but you know, giving extra paid time off for getting a project on, um, ahead of schedule, that can be something that’s, that’s doable, right? So you just gotta pick what works for you. Yeah.
Well, thank you so much for joining us today. Talking about money isn’t everything here on Youtube with inspired method marketing, your Edmonton business coach. And don’t forget to subscribe and like the video, give us a comment and drop us a line and we’ll talk to you guys next time. Bye.