Ways to motivate your staff at work: 5 tips from EO Melbourne Members

One of the factors of a successful business is having a strong and dedicated team that keeps the organisation running like a well-oiled machine. However, no matter how passionate, hardworking and talented your people are, they still experience exhaustion, burnout, boredom, frustration, disappointment and all other things that may slow down or hinder your progress.

Your workforce is an important asset of your business. It is just fitting that you look after their welfare and keep them motivated at work to inspire them to do their best, perform well and hit their targets. EO Melbourne members share various ways on how to encourage your team members and inspire them to keep going.

Communicate your vision and plans

Having a shared vision and goal, such as where you want to bring the business and how you want to get there, is essential in leading a team. Apart from being transparent when it comes to your objectives and plans for your enterprise, there are also advantages when you present to them how they can grow and develop within your organisation because it helps them to visualise and understand that when your business advances, it also has a positive ripple effect on them.

A helpful tip from John Liston, Director at Liston Newton Advisory is “I try to communicate clearly the vision of the business and where we are going together. The vision of the business is that we grow in size, and there are more opportunities for career growth, development and personal wealth for all those involved. The price of admission to be on that journey is that all staff own their numbers and hit their targets.” 

Give affirmation

Sometimes, all it takes is a little push or a few words of encouragement to bring out the best in them. Trusting in your team’s capabilities enables them to prove themselves worthy of such trust and empowers them to come up with strategies and plans that will help them achieve their targets. Affirming their good works also emboldens them to always put their best foot forward in everything they do. That is why Carlo Santoro, Founder of RetailCare, makes sure that he is “standing alongside the team at all times and giving them deep confidence in their skills and ability.”

Conduct regular huddles

Constant interaction and communication is key to a stronger team. And even when some of your staff may be working from home or in remote locations, find time to have regular contact and huddles to discuss various updates, concerns and other aspects of their job and areas that may also be affecting their work. Take this also as an opportunity to talk about light matters that can make your regular meetings more interesting and fun.

As an example, Punchy Digital Media Managing Director Anthony Lam shared, “One of my favourite things that we do is we start our Friday weekly huddle with a communication starter and go around the team. These can range from light-hearted to some very deep questions that let us learn more about each other.”

Jason Ellenport and his team at Edison Partners also do something similar to what Anthony imparted. “During the lockdown, we ran regular short 30-minute daily WIP sessions to ensure the team was on the same page. This was supplemented by a ‘Friday drinks’ session to maintain informal team interaction and culture,” Jason conveyed.

Have some fun activities with the staff

Organise some fun activities and interesting initiatives for you and your team outside of your regular meetings. You can do team building sessions or have monthly or quarterly get-togethers or arrange for small put a hobby corner at your workplace. There are many things you can do and you can even tap on your staff to take the initiative on this. Sometimes, it’s good to see the various sides of your team members where they are not confined to stiff and structured environments.

Professional EOS Implementer and the Director/General Manager of DWM Solutions Jeni Clift shares a brilliant idea on how to inject enjoyment in the workplace. “I am an eDISC Practitioner and run some activities around the different behaviour styles to give people a greater understanding of how different people behave. One of these is set in a pretend café and is always different and fun.”

Reward them for a job well done

Having a reward system is one of the methods business owners implement in organisations because it’s a key motivation as well as a form of recognition to those who do their job well and even beyond expectations. Some rewards may come in the form of incentives, awards, promotions or gifts. It’s also important that you understand the kind of remunerations that will appeal to your team. There may be those who appreciate getting material gifts while others may prefer having a one-of-a-kind experience.

One example is going on trips like how Nathan Chan, CEO and Publisher of Foundr Magazine, and his team has done. “We did an all-expenses-paid trip with our team to Thailand for hitting our annual revenue goal targets. It was an incredible shared experience and brought the team closer together.”

There are various ways to encourage your staff to perform well and achieve their goals and targets. Please share with us your experience on how you have done it in your organisation through the comment section below. We’d love to hear your story as it may also inspire others to do the same.

EO: A strong business support system during challenging times

“Alone we can do so little; together we can do so much.”

– Helen Keller

A few years back, no one has ever imagined that we would be experiencing this tough global crunch that we have today. Every corner of the world has been affected by the pandemic, affecting many industries and economies. It is undeniable that it has also taken a lot of toll on business owners.

However, being among peers and colleagues and surrounded by like-minded individuals who are going through the same worries and lending support to each other can be a huge help during this time of crisis. As depicted in a fable, a single stick can be easily broken while it would be difficult to do it on a bundle of sticks.

The same can be said for entrepreneurs who have strong support from a group like EO. For members of EO Melbourne, the chapter is a huge help and comfort as they navigated through the crisis. One of the benefits that they pointed out in belonging to this group is the Forum.

Jason Ellenport, Principal at Edison Partners, echoed this sentiment. “Above all else, it was my forum which assisted me to navigate the crisis. We went to twice forum meetings per month to ensure we were there for one another.”

Information sharing

At a time when movements were limited and things were at a standstill, connecting with people is essential and helpful. It is also necessary for business owners, especially in getting the necessary information about various industries and recommendations for leads.

“The (EO Melbourne) WhatsApp group helps a lot by quickly sharing information and links to resources. Because of the rapidly changing nature of the COVID-19 crises, it was good to have information shared so quickly and, more importantly, verified or dismissed as a rumour. We changed our forum to twice monthly, which helped to disengage from the frenzy and take a higher-level view of life with the other forum members,” said Liston Newton Advisory Director John Liston.

These sharings also includes first-hand experiences, especially on products and services that others have availed and used. For RetailCare Founder Carlo Santoro, the network of connected like-minded people has helped him ensure that he stays on top of all the latest ideas and government regulations by learning from the experiences of others.

Relatability

Having someone or a group that understands what you are going through is very important at this crucial point of our global events. People who can empathise with your situation can often help lift the burdens that you have been carrying all along.

According to Cesar Aldea, Founder and Managing Director of Aldea Consulting, “As a group of business owners, we shared our challenges, fears and wins during these difficult times. The level of relatability makes the group a safe platform to share EVERYTHING that’s happening to you personally or with your family and business.”

Supporting each other

When one is going through difficulties, whatever kind of help – big or small – can go a long way. “Certainly, having my forum has been the biggest support,” Cesar declared.

Gry Tomte, HÜD Skin + Body Director + Founder, still remembered how it was when the pandemic started. “I was fortunate enough to start EO at the beginning of COVID. I remember clearly my forum training with Carlos the very day everything went haywire. One of my first experiences was a breakfast meeting where listening to so many EO members already having lost their entire business – but with the resolve to turn things around – was a humbling, emotional and pivotal moment.”

She further elaborated, “When I was placed in a forum, I had no idea what to expect. It’s taken me a long time to understand exactly what forum is about. But now that I do, I can honestly say my forum has pulled me through some of the most difficult times I’ve ever experienced in business and life. I said this just recently, ‘I am so lucky to have stumbled into this forum at the perfect time.’ Having a group of absolutely awesome humans with such vastly different but often with the same core experiences is priceless. It’s such a blessing knowing you’re not alone. And all the things you go through as an entrepreneur, while it seems as though everyone else is breezing through it, most have been there or will be there. Oftentimes, we can’t see the gold because we’re too absorbed in digging through the dirt. My forum had helped me see the gold in so many situations. I’m forever grateful for joining EO.”

At this time, we may still not know what the future – short-term or long-term – holds for every one of us. But having a strong support business during a challenging entrepreneurial journey can help you stay on track and continue towards your goals by a considerable margin than when you’re all by yourself. Helen Keller’s inspiring quote “Alone we can do so little; together we can do so much” still rings true in our present time.

On trends and predictions: how it will help chart your business growth

Setting targets and goals is an important part of keeping a business running. It provides the team with the direction of where the company is heading and allows them to come up with strategies based on the objective set. Looking ahead may include forecasting, which helps gauge if the target is attainable and feasible within the given timeframe and resources on hand.

Entrepreneurs prepare for the future by looking at trends and coming up with a prognosis of what is to happen. EO Members share how they keep themselves updated on the latest trend in their industry.

• I talk to suppliers and partners to get to understand where the business is changing, as well as to the leading businesses in each industry category that we work in. – Carlo Santoro, RetailCare Founder

• Being an avid reader certainly helps with staying abreast of the latest trends in the translation and localisation industry. In my spare time, I regularly read global industry news, blogs and reports. When I am on the move, I also listen to industry podcasts. I also enjoy exploring research papers from academia to help understand how research and evaluation can help influence our translation company. Finally, staying connected with other professionals in the industry, including attending networking events, as well as arranging one-on-one meetings has been incredibly valuable. – Costa Vasili, EthnoLink CEO and Founder

• I read a lot of books, listen to podcasts and follow thought leaders on LinkedIn. – John Liston, Liston Newton Advisory Director

• Edison has M&A Advisory, Strategy & Transformation Consulting and Private Equity business lines, so it’s important I’m up-to-date across all three areas. To do so, I read extensively, listen to podcasts – including www.Disciplinn.com (which Edison proudly sponsors) – but most importantly, I engage with entrepreneurs and business owners to understand their priorities and listen to how their respective landscapes are changing. – Jason Ellenport, Principal at Edison Partners

Watching out for trends and conducting research enable business owners to have a foresight of what to come. It may not be 100% accurate, but it gives one a preview of what to expect and prepare for possible opportunities and threats. It also provides a different perspective on how we would be doing things and have a better understanding of things around us.

And what are some of the business predictions entrepreneurs have for the rest of the year? Here are a few we’ve gathered from our members:

• I believe many businesses have simply realised the number of unnecessary processes-protocols-routines that are nothing more than decorative stuff, mostly a waste of time and energy that until now has never been questioned. Today, we know that people can be more productive working from home and managing their own time. We know that we don’t always need fancy offices; that you can maintain relationships without travel; and that Zoom overtime sucks! I’m predicting a simplification to the way we do business. This is the time when we have the opportunity to adjust our work our lifestyle and start living the life we always wanted. – Cesar Aldea, Aldea Consulting Founder and Managing Director

• Heightened activity in M&A markets, with continued domestic and cross-border inbound interest in ANZ assets. – Jason Ellenport, Principal at Edison Partners

• Integrations and automation is the biggest growth area for business in 2021. – Carlo Santoro, RetailCare Founder

• Staff will not go back to normal pre-COVID work. As a business, we’ve seen the fall out of extended lockdowns and the way it’s affected how people prioritise work-life balance. Several team members have decided that travelling 2 hours every day for a job they love with an incredible culture - isn’t enough when they can work 5 minutes from home and be home at 5 every day. Priorities have shifted with people working from home and I am expecting many offices will see their people demanding to spend some of their time working from home with more flexible hours. I think we’ll also see a lot of people changing careers. – Gry Tomte, HÜD Skin + Body Director + Founder

• Increased volatility in listed-equity markets will likely drive an increased appetite for alternative private equity investment classes. – Jason Ellenport, Principal at Edison Partners

• E-commerce and digital products will be bigger than ever. I can see that the convenience of having everything accessible online at any time is something that won’t be going anywhere. And I think this world will see a lot more exciting innovation in the coming years as companies have pivoted their technology and operations to adjust to a covid normal. But I think the businesses in the tech space who will do best are those who have a broader purpose clear to the consumer. Even though we’ve gone online people still crave connection and genuine care. – Gry Tomte, HÜD Skin + Body Director + Founder

• High growth for all business that is focused and listening to their customers. – Carlo Santoro, RetailCare Founder

• My biggest prediction is that people will prioritize happiness; spending more time doing the things you love with those you love, over money and career. Therefore employers will need to shifts their focus from KPIs to KHIs to motivate, retain and attract new people. – Cesar Aldea, Aldea Consulting Founder and Managing Director

How about in your industry? What are the trends you currently see and from those, what predictions can you formulate for the rest of the year and the coming year? Share with us your thoughts through the comment section below.