The key to any successful business is good people. It doesn’t matter what you sell or what service you offer, without good staff eventually your business will begin to fail. Once you find good people, you have to provide an environment of trust that allows them to do their best work knowing that they will be appreciated for their efforts.
In his book 7 Habits of Highly Effective People Stephen Covey uses a bank account as a metaphor for relationships. He suggests we approach all of our relationships as Emotional Bank Accounts where we can make regular deposits and withdrawals. As with any bank account, if too many withdrawals are made, your relationship will be in an overdraft situation, which may harm the relationship, and eventually your business. An example of a deposit is treating someone with courtesy, kindness and respect. The corresponding withdrawal would be rudeness, disdain and a lack of respect for the other person. Florists can learn from the following examples of deposits and withdrawals:
- One of the most important deposits you can make with an employee is to know what a deposit would be for them – flexible hours, bringing them a coffee, telling them when they’ve done a great job. Seek to understand what works for them. If Janey doesn’t drink coffee in the afternoon, repeatedly bringing her one and thinking how swell you are is a huge withdrawal.
- Keep your promises. Breaking a promise is one of the fastest ways to bankrupt an emotional bank account. Be very careful to make only promises that you mean to keep. Employees need to be able to take you at your word, and expect your actions to follow accordingly.
- Be loyal to those who are absent. Speak about your staff as if they are present. Don’t say anything behind their back you wouldn’t say to their face. Badmouthing co-workers, gossiping and criticizing are huge withdrawals and violate the trust in your workplace. This goes both ways. Employees who continuously complain about their boss or the job will soon be in overdraft.
- Set clear expectations, especially on new projects and activities. One of the best deposits you can make for an employee is to give them clear expectations of their roles and goals. Clear outcomes will lead to successful accomplishments, which become deposits.
- Learn to apologize. Prideful stubbornness can be a huge withdrawal. When an employee sees that you are willing to humbly apologize, you will reinforce their trust. In turn they will be more comfortable coming to you when they’ve made an error.
- Give feedback in the form of an “I” message, as your perception or feelings about the situation. Use phrases like: “My concern is”; “I feel” or “I think.” “You” messages are a withdrawal. They can be perceived as accusations.
- Forgive and forget. Once you’ve dealt with the situation, move on. Don’t let the past rule your future. If the relationship is not salvageable, deal with it.
The book recommends that we have five deposits on account for every withdrawal we may make to avoid bankrupting the relationship. This is sound advice that you can start to act on immediately. With a strong balance in your emotional bank accounts you may soon see an improved bottom line in your business.
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