A “bad boss” is a comedic part of some work cultures, they reside in movies and TV, but if you actually work for a bad boss, there is absolutely nothing funny about it.

Researchers from the Harvard Business School and Stanford University analyzed the results of more than 200 studies to better understand the effects of stress in the workplace. They found that worrying about losing your job makes you 50% more likely to experience poor health and that having an overly demanding job makes you 35% more likely to have a physician-diagnosed illness.

Job insecurity and unrelenting demands perfectly characterize the environment created by bad bosses, and the negative health effects measured by the Harvard and Stanford researchers are as bad as what are seen in people who are exposed to significant amounts of second-hand smoke.

While 27% of people working for a bad boss quit as soon as they secure a new job and 11% quit without having secured a new job, an amazing 59% stay put. That’s an alarming number of people who are living with overwhelming stress and experiencing the trickle-down effects this has on their sanity and health.

There are many theories as to why people keep working for bad bosses, ranging from Stockholm Syndrome to company loyalty. Sometimes it’s just “comfortable couch” syndrome, where putting in the effort to find a new job seems too overwhelming.

The problem is that the longer you stay with an abusive boss, the harder it becomes to convince yourself to leave and the bigger the toll it takes on your mind, body, and family. That’s why it’s important to know how to recognize the signs of a bad boss early on before you’re sucked in so deeply that it’s hard to leave. Here are some critical things to watch out for.

1. Belittling

Sometimes it’s necessary for bosses to deliver feedback about your performance that isn’t easy to hear. But some of them give you the strong impression that they enjoy it. They don’t just give you important feedback, they relish the act of putting you in your place — even more so if they have an audience.

While you don’t necessarily want a boss who can’t deliver tough feedback, you definitely don’t want to work for someone who enjoys criticizing and blaming. If that’s the kind of boss you have, get out quickly, for the sake of your health.

2. Temper tantrums

Like everyone else, bosses have bad days. Pressure might make your boss lose his temper, but that shouldn’t be happening on a regular basis. If your boss flies off the handle anytime something doesn’t go exactly the way he wants it to, it’s time to reconsider your employment.

Whether it’s directed at you, his bosses, or just the forces of nature, tantrums set a negative emotional tone that reverberates throughout your workplace. They make people timid and cautious. People stop speaking up and sharing their creative ideas because they’re afraid they’re going to get slapped back down.

If you hear your boss yelling down the hall, and instead of thinking “What in the world is going on?” you’re thinking “Here we go again,” then it’s time to move on.

3. Unreasonable expectations

Some bosses see their employees the same way that young children see their teachers—as having no identity outside of their work. They can’t quite wrap their minds around the importance of family obligations, hobbies, or anything else outside of the office that doesn’t serve them. These are the bosses that expect you to put in unreasonable hours that serve little purpose.

If you get the feeling that you’re disappointing your boss every time you leave for the day, then you’re working in an unhealthy environment.

4. Failure to lead by example

If there’s one thing that drives almost all employees crazy, it’s a boss who doesn’t walk the talk. It’s extremely difficult to feel inspired and to take your job seriously when the person who sets your standards doesn’t live up to those expectations herself.

If your boss is a hypocrite, it’s time to go.

Bringing it all together

Having a bad boss is more than just irritating — it can cause very real damage to your mental and physical health. So, if you’ve got a bad boss, stop telling yourself to buck up. Instead, do an objective tally of the toll it’s taking on you, and, if it’s time to go, get busy today.

While most of the focus in late 2016 was on the chaotic U.S. Presidential election, there was a significant amount of activity on the economic front.  Job growth was surging as the year came to a close, and the markets came back to life.  This, along with the presence of a new presidential administration that, by most counts, seems like it will be quite business friendly,  bodes well for your company’s bottom line.

Here are some tips to continue being as profitable as ever as we close the 2nd half of 2017.

Explore New Markets

Over 70% of the world’s purchasing power is located overseas.  Despite this fact, less than 1% of the U.S. 30M businesses export anything overseas.  Companies that take the time and effort to find and serve overseas markets are poised to significantly boot profits, and gain advantage over their competitors. Lack of expertise is one of the main reasons that companies, particularly small businesses, often don’t pursue exports. Fortunately, there are relatively low- cost ways to get the support you need to become an exporter. The International Trade Administration’s Strategic Partnership Program, for example, can help companies break into new markets, even if they have very little experience with exports.  There are consulting companies like us at MCDA that have decades of experience with exports and are happy to assist with any needs you may have.

New Tax Rules and Regs

There are almost always new tax rules and regulations to account for, but with a new administration and a supportive congress, the tax environment could change substantially in the next year or so. During the Presidential Campaign, for instance, President Trump suggested cutting the business tax rate from its current 35 percent rate down to 15 percent; he also suggested making substantial changes to the deductions, as well as the rate at which LLCs, partnerships, and S corporations are taxed as well. All of these changes, if enacted, could substantially boost your company’s profits next year, so make sure you pay attention to them and plan accordingly.

Customers Generate Leads

If you have worked hard and have been successful at keeping your current customers happy, think of ways to leverage them and grow your business – and by extension your profits – even more. Turn them into sales force for you by incentivizing them to generate future leads. Give them discounted service for every lead they generate, and some kind of larger incentive if the lead generates a sale. Get long term customers to work with your sales staff to help them as they generate leads and work towards achieving more sales. Use customers’ testimonials as a key, authentic component of your marketing strategy, by having them appear in your online social media presence. Finally encourage your best customers to share as much about your company as possible via word of mouth or social media and return the favor to them.

Leverage Technology

If your business, especially your small business, is not taking advantage of 21st-century technology, then more likely than not you are generating unnecessary expenses and failing to take advantage of opportunities to make more sales. Paperwork, for example, can be very costly to generate, store and get rid of. Reduce costs over the next year by going paperless. Invest in computers and mobile devices to reduce the paper trail, and eliminate it further by developing online e-forms and receipt systems. The same mobile devices that reduce paperwork can make it easier for your sales force to communicate, and aid in finding more leads; this could lead to more sales and greater profits. Finally, if your business does not have an online presence for marketing or sales, make 2017/2018 the year your company gets on the Internet, reaches a broader audience, and increases its opportunities to earn more profits.

For more information or to learn more about Growing Your Profits contact me today!  mike@mcdaccginc.com

I have a lot of Facebook friends and clients who are entrepreneurs starting businesses trying to sell anything from clothing, sports wear, food items, etc., and they all ask will my business succeed.  Well let’s start with the fact that businesses don’t succeed by accident.

Yours won’t either.

You can increase your chances for success by properly evaluating it. It is not something that you do once and forget about it. You have to be ready and willing to evaluate the viability of your business each and every day if necessary.

Successful entrepreneurs are able to look at the big picture to see what is working and what must be improved. If your business will succeed, you have to ask key questions and answer them honestly.

Why are you in business?

This is one of the most important questions that you must answer.  It is a difficult one because it requires maximum honesty. What drives you? When you think about the reasons for starting a business what comes to mind? What were you doing before you started your business that pushed you into entrepreneurship?

Here are some examples of common reasons for starting a business:

• Independence. Do you fee more comfortable building your own business than building someone else’s business?
• Need. Some people make terrible employees. They are always looking for new ways of doing things. They have to cal the shots. They must be in charge. It is tough for them to fall in line.
• Unfulfilled. There is nothing wrong with getting a job, if it makes you happy. There are some people who feel unfulfilled by working for someone else.
• Accident. There are many entrepreneurs who did not start with the intent of starting a business. Some of them had an idea for a product or service and no one else was willing to take on the challenge.
• Unique. You might have such a unique set of skills that you can’t find the right job and you are forced to start your own business.
• Jobs. There is a great deal of pride that comes with creating jobs for people.
• Money. Realistically, there are many people who start a business to get rich. Most entrepreneurs never become rich. If money is your primary motivator, you will most likely fail in business.

How will you compete?

Every business has competition. If you have a business idea, thousands had the same idea before. Many people actually started successful businesses around those ideas. How are you going to compete with them? What makes your business competitive in your niche?

That fact is that from day one in business you have competition.

The question is: How are you going to outperform and outdo your competition?

You don’t have to be first to market, but you do have to be much better than what is already out there.

Does your product stand out? If your product is only as good as the competition, that is not going to be enough. Your product or service has to be superior to your competition.

Make your business more competitive:

• Know your competitors better than they know themselves. What you learn from and about your competition will help you succeed in business. Study them constantly!
• Understand your customers. Your customers know what they want. Only those businesses that really know their customers deserve their business. What is important to your customers? Is it price? Is it convenience? Is it delivery? The more you know what they want, the more opportunities you have to attract them.
• Your unique selling proposition can differentiate you. What’s yours? Does it really make your business different?
• Before you chase after new customers, make sure your current customers are happy with your service.
• Test new markets. Do this without overextending. When you are ready to grow try a new niche target market.
• Offer additional services. Another great way to grow and be more competitive is by offering additional related services.
• Attract the best talent. One way to do this is by being known as the best employer in your industry.
• Watch for trends. Trends come and go. Those who know how to ride trends succeed.  Clothing and apparel people, this goes double for you!

How will you make money?

There are those who say you must have passion for your business. I agree, but, your business will only succeed if you figure out a way to make money.

Not only that you have to have a business model, but you need the right business model for your business.

There are many potential business models, here are some of the most common ones:

• Advertiser – This website is a good example of an advertiser business model. One of the ways we make money is through sponsored blog posts.
• Commision – Affiliate marketers, real estate agents, mortgage brokers, and business brokers are good examples of the commision model.
• Manufacturing
• Merchant
• Brokerage
• Data
• Franchise
• Subscription
• Productization of services
• Direct sales
• Freemium

When I was in high school, burnout was something you did in your parents car that left two big black marks for hundreds of feet down the road.  Today it’s used to describe the state of many employees and many managers in most businesses.

 We work harder and harder and get less and less satisfaction out of our work, until one day we wake up and realize, “I’m burned out.”  As far as I’m concerned, burnout comes from only two things:  not making progress (or perhaps not enough progress) on things you do care about, or working too hard for too little on things you don’t care about.

 I’ve talked many times about controlling your own destiny — having a plan and working that plan.  But it’s true that most people take their career as it comes.  They become more and more disenchanted with their career, often not even realizing why, and they resent the pressure to perform at a higher and higher level.

 The worst manifestation of this is when you’re tied to your business with “golden handcuffs.”  You know, you make enough money that it would take a miracle to replace it. But you’re not happy —   maybe even miserable — and there’s nothing you can do about it.  You can’t afford to take a cut in pay to go somewhere else, and you can’  stand to keep your job.

 If you’re working in a job you love, but are feeling the effects of burnout, you need a break.  No phone, no email, no computer, no  homework, no nothing for at least a week (two is better.)  If you’re suffering burnout in a job you hate, quit today.  You have to have pretty low self worth to work in a job you hate — just for money.   Look.  You loathe it.  You are unfulfilled by it.  You are doing it because nothing else pays as well.  You wake up in the morning wishing you were sick (or worse, that you could die today) so you didn’t have to go to work.  But it’s the money……  That’s the mentality the world’s oldest profession grows out of.

 If your life is on a great trajectory but you’re exhausted, get some R&R.  You’ll come back ready to tackle anything.  If you’re in a dead end career path, get out.  Today!  Don’t wait.  It’s not going to get better.  If you’re not happy, it’s just a matter of time before you’re forced out.  Don’t leave a job you hate on someone else’s terms.  Leave on your own.  Today.  It will work out.  Life is too short to spend it doing something you hate.  Move on.

 Finally, make sure you break your goals down into smaller bites.  You need more successes.  Make sure you have a “win” every day.  Maybe several times a day.  It’s hard to be too bummed when you’re winning every time you turn around.  And take time for you.  It’s the best time you’ll ever invest.

How do we build mutual business negotiations? Is it even possible to close a deal that is beneficial for all parties involved? Surprisingly, yes it is. In business, there are ways of reaching mutual ground without having to give up too much equity. In simple terms, negotiation is a conversation between 2 or more individuals who are looking to find a solution to their problem.

Negotiations happen voluntarily and they’re often meant to build relations. In specific situations, they’re aggressive and unethical however it doesn’t have to be that way. When you’re trying to build mutual agreements, creating divergent situations doesn’t happen.

Don’t hesitate to ask for what you want

There’s no shame in asking for what you want in business. As long as your offer is not exaggerated, a counterpart should be more than happy to take it. Mutual Negotiations are meant to satisfy all parties involved in the meeting. It’s more like a 50-50 bargain where there’s no winner/loser. One of the main benefits of a mutual negotiation is that it permits future cooperation. It’s good to have a business partner with whom you can always talk about another deal. Honesty is the key in business; you have to be sincere with opponents, with your team, and with yourself.

Trust, esteem & respect – traits every business negotiator should have

Nobody likes to do business with a smug negotiator. Persistent sales people, CEOs with outrageous offers, and company owners who are not willing to compromise will never build connections. These people are willing to do everything in order to win a bigger share of the pie. Mutual negotiations on the other hand, are all about trust and respect. As long as your intentions are good and your strategies are clean an opponent has no reason to feel pressured. There’s no grand price when a deal is meant to satisfy all parties equally, so why should your attitude be any different? Some key aspects you should always keep in mind:

• Give respect and you’ll receive respect
• Lay out a clear offer on the table and try not to use any unethical measures to persuade a counterpart (skilled negotiators know how to spot a sneaky strategy in a blink of an eye)
• Know your business inside and out (know their business inside out too)
• Ask for what you think you deserve (be ready to make concessions but don’t give up too much)

If there’s a deal on the table, consider it but don’t ignore it

When there’s a deal on the table, don’t ignore it even if it doesn’t live up to your expectations. It’s rude to say out loud that a deal is not good without even trying to renegotiate. Ignorance leads to further negative feelings and opponents may feel offended. Consider any type of offer and if the price or the terms & conditions are not what you expected, sit down and talk about it.

A laid back attitude is always welcomed in a negotiation. Ask rational questions and don’t hesitate to state your expectations. A counterpart may not agree to everything you’re going to say, but at least you’re talking, which means you’re involuntarily re-bargaining. Most people assume that negotiations are all about who’s the most powerful and richest person in the room. Sometimes, money is not that important.   It might sound incredible but there are people who want more than financial incentives from a deal.

Mutual business negotiations are built with patience

Patience is bliss in business. If you’re trying to build mutual negotiations, then you have plenty of time on your hands to talk about a certain deal in detail. Since there’s no competition involved there’s absolutely no reason for a negotiator to keep his guard up. Speak freely if you want to build relations and leave the table with a sweet bargain.

Some negotiators are extremely competitive. They believe that getting 51% from a deal is better than 50%. On the other hand we have people who don’t want to win in negotiations. It sounds strange but their goal is to close a deal that is good from different perspectives. First of all, they get the 50% and second of all, they build connections with powerful people with whom they will most likely collaborate again in the future.

For more on this subject or to speak to one of our talented consultants contact us at http://www.mcdaccginc.com or 714-872-2393