Cal Wilson / March 28, 2023

Feeling overloaded with collaboration? This fascinating new TED Talk, by collaboration pioneer Rob Cross, examines how to be a team player without burning yourself out.  

Cal Wilson / March 14, 2023

In a recent article of The Pulse, we talked about the importance of building trust while doing business. One way to do that is to always hold yourself accountable and take responsibility for mistakes, accidents, and poor judgement calls that you or those acting on behalf of your business may make.  

In this article, we look at what that means, and how you can move forward in a way that fosters trust after a mistake has been made. 

What is accountability, in a business sense? 

Accountability is an obligation or willingness to accept responsibility or to account for one’s actions. But it’s a little different when a business or brand is being held accountable, rather than an individual person.  

As the business owner or senior leadership of a company, you’re accountable for the actions of every person underneath you. If you’re management, you’re accountable for the actions of your whole team. Essentially, even if your personal errors are few and far between, you’re beholden to more than just your own actions.  

How to take accountability, even if you haven’t made the mistake.  

As previously mentioned, sometimes accountability in business means taking ownership for mistakes made by another individual under your employ. This may not come naturally, as it’s pretty easy for our brains to skip to, “well it’s not my fault!” When that reasoning doesn’t cut it, here’s what you have to do: 

• Acknowledge the mistake and take responsibility for it.  
• Apologize to those affected.  
• Take action to resolve the issue – this may involve refunds, discounts, replacements, staff training, or even implementing new policies.   
• Take measures to prevent similar mistakes from occurring again.  
• Communicate openly about how the issue is being resolved/prevented in the future. 

Failure to implement these steps could result in an overall loss of consumer trust and a decreased chance of customers returning.  

In conclusion… 

In business, accountability is more than just owning up to your own mistakes. It means that you, as an owner, executive, or manager, are responsible for everyone acting on behalf of your business, and taking accountability for their mistakes, as well as yours, is part of best business practice.  

Joe Weppler / February 28, 2023

Social Media has earned its title as one of the most valuable assets in a technology focused society. Although many entrepreneurs struggle to adapt to the overwhelming growth of various platforms, it’s a necessity to understand how social media has changed the business world. Why is it crucial to augment your business through online networks? 

In this issue of The Pulse, we evaluate the significance of social media for small businesses. 

Businesses have had to adapt in recent years 

It’s no surprise the economy has been erratic since the COVID-19 pandemic breakout. It is believed that between 2019 and 2020, the global gross domestic product had it’s worst economic decline since the Great Depression. With the rise of technology, business owners have adapted new methods to stay afloat. One such method is making use of the inexpensive or free opportunities presented by social media.  

Benefits of social media  

Consumers indisputably have less pocket money to splurge on goods and services, so how are small businesses expanding their networks? Social media has aided business owners in influencing how customers perceive them and their products.  

Creating personalized content can pinpoint the target audience and deliver soft-sell advertising directly to their newsfeed. Having your business active on various platforms can also generate communication pathways and build connections.  

Limitless information  

Entrepreneurs, managers, and dedicated marketing staff have access to analytics such as: 

• Post viewers 
• Profile visits 
• Profile shares 
• Follower engagement 
• Follower location and other demographic information 

Traffic-monitoring tools inform the business/brand of engagement and whether they’re utilizing the platform effectively.  

Chances are that your competitors are using social media platforms to expand their business. Having access to other businesses’ marketing tools and strategies ensures you remain one step ahead.  

Likewise, awareness of your business’ competitors can further develop an understanding of customer needs.  

Marketing is visual 

Whoever your target audience may be, all businesses want to leave a lasting impression on their customers. Approximately 50% of new information is forgotten within an hour, so how can content be successfully marketed? 

Infographics use minimal words to tell a story though an inviting design. Studies show that information is processed and retained at a quicker rate through visuals.  

Businesses can effectively communicate to their customers with infographics through effective use of: 

• Colour theory 
• Engaging designs 
• Minimal clutter 
• Visual organization 
• Sharable & usable content 

Nowadays, there are so many free or inexpensive design platforms to help your creative visually appealing, effective content that will remain in your audience’s mind. Failing to take advantage of these tools is just poor business strategy.  

Search engine optimization 

Search Engine Optimization (SEO) is the act of boosting a site’s visibility to increase its traffic. Creating consistent content for your business’s social media can be taxing, but posting regularly is the recipe for site engagement.  

Approximately 55% of consumers say social media is how they come to know different brands and companies. This means more than half of potential consumers are gained through digital marketing.  

In conclusion… 

If you haven’t already, jumping on the social media train is crucial. Technology is continuously advancing, and consumers will be relying on businesses to digitalize their platform.  

To conclude, it is proven through various statistics that social media presence only enhances your business. Why wouldn’t you make use of this tool? 

Cal Wilson / February 14, 2023

We’ve all been in that position before; you have a problem you don’t know how to solve, and you have to rely on a professional to fix it for you. It’s anxiety provoking not to have control or to not know all the answers. Luckily, being able to trust that a professional has your best interest in heart makes that predicament a lot less frustrating.  

From a consumer perspective, of course this makes a lot of sense. From a business perspective, that means building trust and a reputation of trustworthiness is vital to your overall success.  

In this issue of the Pulse, we look at why trust is important and the cost of ignoring it as a factor in your customer relationships.  

An example of building trust in a real interaction. 

Recently, my relatively new, otherwise-great gaming laptop stopped charging. Initially, I thought it was the charger, which I replaced to no success. Frustrated and anxious about the cost of resolving this issue, I made the decision to send the laptop in to a local computer shop with a good reputation – the same shop that recommended this model.   

Anxiously, I sent my beloved device away right before Christmas, knowing I wouldn’t be seeing it any time soon. However, I trusted it was in good hands.  

I was right. We got a call in January detailing the issue – something I don’t quite understand about the motherboard – and a list of options for what to do next. The repair person had gone ahead and recovered my data, and I could choose to either replace the computer, replace the motherboard, or send it to a different store with a micro-soldering specialist who might be able to fix the issue this store couldn’t. I was assured this other shop – which I had never heard of – was credible, and that they worked with it often on projects too niche for their capabilities.  

Once again, I trusted the professional, and once again, sent my laptop away – this time, to someone I had no experience with. Again, that trust didn’t lead me astray. The specialist at the other store fixed the issue, and for less than 10% of what the cost to replace either the computer or the motherboard would have been.  

The repair person at the original shop could have made a lot of money selling me those parts. Instead, they sent me to someone else who could do what they couldn’t. And for that, I trust implicitly that they always have my best interest at heart.  

Trust is something you earn.  

This is just one story of hundreds of good interactions I’ve had with businesses I now trust; but it saved me a lot of money and heartbreak over potentially losing my computer. I’m sure every person reading this can conjure a similar memory, where a professional made a choice that perhaps wasn’t best for their profit, but was ethically the best choice and left you walking away feeling good.  

A reputation – including reviews and testimonials – for this kind of service is important to a business’ ultimate success. Which computer repair shop is going to get the most repeat customers? The one with the fastest services and the most expertise? Maybe. The one with a proven track record of doing whatever it takes to help their clients? Definitely.  

Losing trust is expensive.  

Recent studies have found that trust in a business is important for as much as 80% of consumers. Likewise, 71% of consumers say they are unlikely to buy from a company they no longer trust, while 73% confirmed they would spend much less.  

Those numbers are significant. Up to 80% of your customer base is not worth putting in jeopardy by not prioritizing building trust in your business strategy. In everything from your marketing, employee training, and operations guidelines, trustworthiness needs to be something you’re striving to achieve and maintain.  

In conclusion… 

As a business, it’s up to you to earn your customers’ trust. Failing to do so can be costly. However, living up to that trust will build a loyal customer base, bring in more business, and help your brand thrive.  

Cal Wilson / January 31, 2023

Since 2021, the economy has been in a fragile situation when it comes to job vacancies. Known as the Great Resignation, waves of employees voluntarily leaving their jobs dominated employer concerns and supply chain issues. In 2023, while many employers have found strategies or adjusted to this challenge, looming threats of new waves of resignations are still a serious concern. 

In this issue of the Pulse, we take a look at the predictions for 2023’s resignations.  

Starting out the year on a low.  

2022 ended out on a rough note in terms of job vacancies. According to CNBC, “almost 4.2 million people voluntarily left their jobs in November, marking the 18th straight month of record-breaking quits in the U.S.” 

While December and January haven’t been as tumultuous, they’ve certainly given cause for concern. A December study by LinkedIn and CensusWide found 61% of workers in the United States are considering leaving their jobs in 2023. 

The news outlet also predicted that more plan on quitting soon – with younger Millennials (26-41) and Generation Z (18-25) workers leading the wave of resignations. That number increases the younger the worker demographic, with the following percentages per generation:  

• 72% of Gen Z’ers (ages 18-25  
• 66% of Millennials (ages 26-41) 
• 55% of Gen X’ers (ages 42-57) 
• 30% of Baby Boomers (ages 58-76) 

Recession worries are not a concern.  

You might expect that during this limbo period where the threat of recession lurks around every corner, workers might be less inclined to throw away a sure thing. However, experts predict that workers will continue to leave jobs at just as high rates as the past two years.  

One Indeed study found that, of workers who “had switched jobs at least twice since the start of the pandemic, 92% said the pandemic made them feel life is too short to stay in a job they weren’t passionate about.” 

Short term economic crisis may not be enough to combat a larger existential crisis that many who lived through COVID-19 are now facing.  

Employers might see a significant financial loss. 

As a company, if you’ve already survived a few waves of the Great Resignation, you know how costly turnover can be. As Forbes explains: 

“Onboarding does not come cheap when you calculate actual training time of the trainer and the trainee, the lost or lessened productivity out of both positions, recruiting and hiring costs, and so on. Some estimates of total costs suggest that for skilled tech workers or middle management positions, those costs could reach 50% of annual income. If a great resignation causes that job to open once, that’s a severe enough hit. Twice? A catastrophe.” 

However, remaining short-staffed isn’t an option, either. Staffing shortages cost businesses by placing undue stress on remaining workers, creating expenses in the following ways 

• Overtime wages 
• Further turnover 
• Poor performance 
• More workplace accidents 
• Lost business opportunities 

Employee retention is now more important than ever.  

With resignations on the forefront of many workers’ minds, businesses need to evaluate what they’re doing to promote employee retention. If you’re an employer reviewing your own situation, you can read our recommendations, here.  

In conclusion… 

With over half the workforce contemplating quitting in 2023, your business can’t afford to be dismissive of another potential wave of the Great Resignation.