Work-Life Balance

Women Entrepreneurs – Managing Work/Life Balance

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Sara Blakely, founder of Spanx, is a billionaire businesswoman and was named one of Time magazine’s 100 most influential people in the world. As a female entrepreneur whose lingerie invention created a multi-million dollar business, she understand the challenges many women face at work. It wasn’t until her health became affected, as well as her ability to think clearly, that she realized she needed a better home-work balance. Sara was quoted in a recent article done by the Balance Project: “I just layered the full-time job of being a mom on top of another full-time job at Spanx and then wondered why I was so exhausted. I started to notice changes in my health and couldn’t think as clearly. I feel like this happens to a lot of women. We just assume we will figure it out. There is no manual, and no way to truly prepare.”

Sound familiar? Obviously, you don’t need to be the founder of a multi-million dollar business to feel the strain of work-life balance, it happens to all of us who have a job and a life outside of work (or would like to have one.)

 

You aren’t alone in the work-life balance struggle!

Women-owned businesses have increased 114% in the US over the last 20 years and despite the talk about equality, women still do far more work at home than men. There is a lot of pressure placed on female entrepreneurs which can affect their performance in the workplace. As Sara Blakely said, eventually the strain began to affect her health. To fix these stressors in any woman’s life, they must be ready to restructure their day-to-day tasks and strive for the right attitude while allowing for flexibility. In today’s blog, we’ll give you a few things to implement to help you achieve a better balance in your very busy life.

How do you find that work-life balance everyone is looking for?

We’ve done our research and have found the 7 most proven tips and techniques to help you achieve a more comfortable balance between work and home/life.

1 – Give yourself a break!

We all do it – we look at other women, especially those who make it look easy…and feel like we are failing in comparison. Stop doing that! Any time you compare yourself, whether it be positively or negatively, it will hamper your growth and stunt your self-confidence. Instead, focus on your goals and on the things you, yourself excel at; it will help you achieve more.

2 – Learn to say no.

If it helps to put a magnet on your fridge that says: “Stop me before I volunteer again”, do it! It is easy, especially as a mother and wife, to accept tasks out of guilt or a sense of obligation. Evaluate your priorities at home and at work and look at what is on your “to do” list. Before you commit to anything, (like becoming the PTA chair) take a hard look at what you are agreeing to do. If the activity doesn’t benefit you and your business, or if it will cause you more stress than you really want in your life – say no. Accept the tasks that bring your joy and are meaningful to you – and only if you honestly have time for them.

3 – Schedule your time.

Look at your current schedule and identify what is working and what is not. If Ms. Talks-a-Lot from the store next door is taking valuable time out of your schedule, figure out a way to limit your exposure to her. Look at timewasters, like social media. Are you getting sucked into those Face Book rabbit holes? Set a timer and allow yourself a specific amount of time for each activity. Delegate the tasks that can be given to someone else and try to schedule like-tasks together.

4 – Accept help.

We know you can do most of your tasks better than anyone else. For instance, have you re-loaded the dishwasher after your significant other did it “wrong?” Part of accepting help is accepting the fact that the task may not be done the same way you do it, or to your specifications. However, the end result is the same: the dishes got clean, even if those spoons were put in the wrong container or if the glasses weren’t stacked according to how you put them away.

5 – Get Real.

You may not achieve that perfect life-balance…but you can get close to it with less stress. Accept the fact that some things will be late, that you may not be able to complete some tasks, or that some things will not go as planned. Try to keep in mind that flexibility is key.

6 – Have Healthy Habits.

It’s already stressful, trying to juggle all things work and life related; make sure you are taking care of your health too!

  • Set a regular bedtime schedule and stick with it (it’s so important to get the rest you need.)
  • Exercise regularly, rather it’s a walk at lunch or an elliptical zoom call. Makes sure you schedule your exercise routine into your schedule.
  • Eat well. Are you eating empty calories that cause the sugar crash right around 2pm? Instead, grab a healthy alternative and be mindful of the food you are consuming.
  • Don’t forget mental health. Employing a work or life-coach can make a major difference in your balance. Counselors and psychiatrists can help you understand if what you are dealing with is “normal” and give you tips on how to have and create a better balance.

7- Learn to Delegate.

Sure, it sounds easy, but delegating is one of the hardest things to do for women entrepreneurs. Why? The truth is, you are an entrepreneur because you CAN do it better! It’s difficult to give those tasks away, but it will help you in the long run. Start small, assigning tasks to individuals at work and at home, then start to look for more opportunities to take jobs off of your own plate. Hire help for specific tasks rather it be a driver to pick up your kids each day, or a housekeeper to cook and/or clean.

 

Achieving the perfect work-life balance takes…work! The most successful women entrepreneurs will tell you it’s a constant “work in progress.” It is worth it in the long run, so keep trying!

 

For additional information and ideas on how to achieve and maintain the perfect life-work balance, please contact us at the Small Business Development Center – SBDC – Serving Paris area: Lamar, Hunt, Hopkins, Delta, and Red River counties.

Exporting

How to Grow Your Small Business by Exporting

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According to the U.S. Small Business administration, “Two thirds of the world’s purchasing power is in foreign countries.” On average, U.S. exporters grow faster than non-exporting businesses. Exporting can help small businesses diversify and become less reliant on the U.S. economy or income from any single region. However, there are some risks involved like sudden increases in tariffs during a trade war or countries copying your product to sell locally.

 

What is exporting?

Exports are goods and services produced in one country and then sold to a buyer in another country. Exporting is an easy way to access the buying power of international markets. Exporting is an excellent way to create a sustainable business model.

 

When should I consider exporting?

Looking to grow your small business and develop a diverse source of income? Exporting may be a good choice.  U.S. made products are typically of higher quality than products made elsewhere. If your product is in high demand, the sooner you begin exporting the better. Consider the following:

  • The U.S. exports nearly two-trillion dollars’ worth of goods and services annually.
  • Ninety-five percent of the world’s consumers are located outside the U.S.
  • With today’s technology, access to exporting can be easy. E-commerce through the internet, improvements in logistics, free trade agreements with twenty countries and a slew of government export assistance makes exporting achievable for small businesses.
  • Exporting can be profitable. On average companies that export make more than their non-exporting competitors. Sales grow faster, and companies that export tend to see less economic fluctuations or seasonal selling as their business cycles smooth out.
  • Companies that export become more valuable should selling the business be a consideration.
  • Companies that export are more likely to stay in business.

 

Which businesses are best for exporting?

Some of the top exported items are agriculture, clothing and textiles, beauty products, meat and seafood, machinery, chemical products, and petroleum products. It has been proven time and again, that US exports are popular world-wide. If your product has even a moderate interest in the US, chances are it will sell world-wide as well.

 

What are examples of exports?

Ben and Shelby Stilltender make a superb sour mash bourbon. With a recipe passed down since the days when Ben’s grandfather first began making moonshine, the liquor is prized by fine restaurants and retailers across the country. A few years back, a diplomat from Spain discovered the drink during a visit to the U.S. Upon his return, he contacted the Stilltenders and arranged to buy a case of bourbon to be shipped to his home in Barcelona. Never having done this before, Ben and Shelby contacted an export management company or EMC to take care of all necessary paperwork and arrange shipping. Additionally, the EMC sourced out a distributor in Spain and the Stilltender’s one-time order turned into full time exporting. Seeing their profits soar, they began exporting the bourbon to eight different countries.

Other examples of exporting are wheat farmed in the U.S. and then sold to China. Jet engines produced by the Boeing company and sold to buyers around the world.

 

How do I export my business’ products?

The Small Business Association (SBA) can help you get started with exporting products and services. They can also offer loans and working capital if necessary. Paris SBDC is also here to help, check out our resources section on exporting for the following:

Export Management Companies (EMC) are a resource as well. They typically charge a fee or collect a percentage of the exported item.

The government has a list of programs designed to bridge new markets and help small businesses find international buyers.

Before choosing to export a product or service, read through the government’s export regulations at the US Export Regulations Website. This may help you determine if you have a suitable item for export as well as offer guidance on how best to start exporting. There you will also find information on licensing, tariffs and more.

Another resource to help you get started is the International Trade Administration.

 

For additional information or resources on how to export goods in your small business, or on how to grow your exporting business, please contact us at the Small Business Development Center – SBDC – Serving Paris area:  Lamar, Hunt, Hopkins, Delta, and Red River counties.

 

Team Building

Teambuilding for Small Business

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Check out our free online Teambuilding class!

What is teambuilding?

Teambuilding is a collective process often based around doing various activities or collaborating on tasks to enhance social relations and define roles within a team. The goal of teambuilding is to better interpersonal relationships as this, above all, helps improve productivity and overall satisfaction with one another and the jobs they do.

Early research on teambuilding came about in the nineteen-twenties. Known as the Hawthorne Studies, this experimental managerial strategy focused on the socio-psychological aspect of human behavior in organizations. What they discovered is “people ” as later publications claimed. Until this time, workers were treated more like machines. Having the opportunity to speak freely about one’s job helped them to see eye to eye with supervisors and fellow workers. This created a highly productive environment, well beyond monetary incentives.

 

Why is teambuilding in a small business important?

Of all organizational activities, studies show team development to be the most effective strategy for improving organizational performance.

Jack and Marsha owned a small business with eighteen employees. Marsha prided herself as being tough as nails, someone to be respected and feared. To make small personal gains, staff kowtowed to Marsha, and she intern pitted them against each other favoring the few who met her demands.

Jack felt developing respect, a positive attitude, and keys to improving the business came by allowing employees stewardship over their jobs. With staff making decisions on how to perform tasks in their own unique way, a sense of ownership developed and for a while it helped the business grow.

At weekly staff meetings, the conflict in management styles grew apparent when employees began to complain that the monetary incentives controlled by Marsha were unfair. To remedy the conflict, Jack relied on anecdotal stories and motivation exercises to engage the staff.

Marsha despised the meetings and argued with Jack over allowing the “underlings” to have a say in how the business should operate. Like children caught between divorcing parents the work environment eventually fractured.

In Jack and Marsha’s business, the closest exercise to a teambuilding experience was the weekly cleaning day where all were expected to oversee individual tasks until the work was done. Of course, this was Jack’s idea, Marsh claimed, because he was too cheap to pay someone to clean.

 

Other than the business owner’s names, the story is true and an example of what often happens with conflicting management styles.  Had this company created a teambuilding experience where the management and staff worked together and helped the business grow, the company may have survived.

 

What makes teambuilding successful?

Crucial elements for effective teambuilding require the following:

  • Management to show a personal interest in each person’s achievement.
  • The manager takes pride in achievements made by the team.
  • Leaders should work together with the team to develop stewardship or responsible management while letting them set their own conditions of work.
  • Managers should faithfully report achievements made (acknowledgement).
  • Each team member needs to develop a sense of pride in their own achievements and find satisfaction through outsiders showing interest in their work.
  • The team should not feel pressured to make changes.
  • Should any changes be made, the team should be consulted first.
  • Successful teams develop confidence and a shared honesty.

 

How do I start teambuilding?

Team Building starts with setting goals with emphasis on clear objectives. Set both team and individual goals together with defining factors for success or failure. Utilize incremental tests or use charting to track progress along the way.

Clarify duties and roles: Defining roles among the team reduces ambiguity. It also creates a sense of independence and value as goals are reached. Had Marsha and Jack decided who was in charge and then each fulfilled their roles without cross-communication, they might have saved their business.

Identify problems: In the development of openness and confidence problem solving is necessary.

Communicate: Giving and receiving support builds up the team and lessens interpersonal conflicts. Use the team leader or a facilitator to guide the conversation and develop mutual trust and openness.

 

I only have 1 or 2 employees; how can I team build?

Anything a small business can do to boost morale and create a sense of inclusiveness is good for overall team strengthening. Here are some ideas for teambuilding with a smaller team:

  • Do a collaboration activity that requires each person to add or enhance the work of another.
  • Practice resolving an ongoing company issue or puzzlement by utilizing problem-solving skills as a team.
  • Get to know each other with something as simple as telling “campfire” stories. This can help break down barriers and build trust and confidence.
  • Do an in-office trivia game that relies on observance of fellow employees to meet correct answers.

The internet is full of suggestions for teambuilding events. To stave off eyerolls and racing for the exits, choose things of interest that are fun.

 

Want more ideas on how to build cohesive teams?

We have a fantastic series going on RIGHT NOW called The Building Blocks of Cohesive Teams.  It’s not to late to attend this FREE online course and there are still several sessions left to attend!  Click the link above to register.

 

For additional information and ideas on how to team build in your small business, or for fresh, new ideas to help your team bond, please contact us at the Small Business Development Center – SBDC – Serving Paris area:  Lamar, Hunt, Hopkins, Delta, and Red River counties.

Government Contracting Steps To Take

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LOOK!!! 

Join us for a FREE online Q&A about Government Contracting for Small Business

When? May 17, 2022 @ 10am

Today’s blog, part 2 of Government Contracting for Small Business, will help you understand the steps you need to take to get a government contract.

It’s not too late to get more information!  Click HERE to find out more!

 

How can I get a government contract?

With the time it takes to secure an award, it may be several years before profits offset the investment spent in obtaining contracts. Utilizing the knowledge of a professional at Paris SBDC or the SBA is a good way to navigate obtaining government contracts and save time.

  • Start small: Once you have identified the products and services an agency is looking for, it is best to start small.
  • Develop a track record with smaller agencies and local awards. Going for big dollar awards at the federal level may put your company in over its head while trying to meet the deadlines and production levels required.
    • Remember, the government tends to go with what they know or are familiar with. Early development can help get your foot in the door to bigger opportunities through creating reliability and recognition.
  • Focus your approach: There may be eight or ten areas where you feel your company can apply for an award. Work on two or three possible contracts where your business excels in quality, not just competitive pricing.

 

How to prepare your proposal for a government contract:

On the SAM.gov site there are three types of proposals:

  • Request for Quotation (RFQ): While typically used for a more simplified government contract of $150,000 or less, the information requirement may be greater. The SAM.Gov site offers advice for RFQ’s.
  • Request for Proposal (RFP): This applies to larger, negotiated acquisitions. There can be some give and take as the process unfolds until the government agency and prospective vendor come to mutually agreed pricing and terms.
  • Invitation for Bid (IFB): This is a sealed solicitation for government procured contracts.

Keep in mind, there is no negotiation, and the submitted proposal is considered final. The price point is often the difference seen between the qualified bidders. A few more things to do before you submit your proposal:

  • Get your paperwork in order: With strict guidelines and regulations, having complete, accurate paperwork is paramount to winning an award. Don’t second guess, ask questions if necessary and above all, leave nothing out.
  • Build relationships: An agency liaison or point of contact may help build company awareness.
    • Connect with agency decision makers through procurement conferences, industry events and contract matchmaking events.
    • Connect with a bid matching service. More than three hundred local Procurement Technical Assistance Center (PTAC) offices serve the country. Find one near you at APTAC. You can also obtain a private service for a more detailed approach to procurement matching.

 

What are the easiest government contracts to get?

A one-person business owner with little track record is not likely to be awarded a government contract. If you are starting small, consider contracting with a larger company that already has work with the government.  While most contracts tend to go to those with a foot in the door, subcontracting with a winning bidder is a way to gain necessary experience, building that all-important track record and move up the rankings.

With that in mind, there are some government projects that are too small and often overlooked. Check the SAM.Gov site for janitorial, plumbing trades, and even painting procurements. Word has it, if you work hard, even at a loss with the goal of bigger contracts, you can get a foothold to greater awards even at this level.

 

What is a GSA vendor and how do I get one?

A GSA or General Services Administration approved vendor are qualified companies that go through the GSA schedule acquisition process.  Follow the earlier step listed here to gain a SAM.gov registration number. Next:

  • Check your eligibility
  • Be prepared to provide three contractor performance assessment reports or 3-5 customer references.
  • Provide complete statements of work and projects for similar projects.
  • Products must be Trade Agreements Act (TAA) compliant, from an approved TAA country.
  • Business must have fair and reasonable pricing.
  • Verify that you are not disbarred on the SAM.gov site.

Once you meet these qualifications, contact a GSA consultant, and start the Multiple Award Schedule Offer Process.

 

Don’t forget to get more information!

Gregory James, of UTA Cross Timbers Procurement Center gave an online Q&A addressing general questions on:

• Government set asides
• Minority owned business
• 8a certification
• Government bid process
• Criteria with Cross Timbers
For more information from the experts in government contracting, please contact Gregory James, of UTA Cross Timbers Procurement Center!
Want even more information?  Check out our resource center for more on Government Contracting!

For additional information on government contracting, how they work, the steps to take, or how to get a government contract, please contact us at the Small Business Development Center – SBDC – Serving Paris area:  Lamar, Hunt, Hopkins, Delta, and Red River counties.