[totters_traders]

hey all, how many of you here who manage a company or a team within a company put together staff memos and hold weekly , monthly or yearly talks with the staff about goals weaknesess etc etc, if so can anyone offer advice to good and bad ideas on doing it (ie) being too negative towards staff or asking for there comments

[GuyBBY]

This is a key proponent to any successful company, and it is at times the hardest thing to get people motivated about. This is especially true if you are starting up, as the founder and person most dedicated to the idea will want frequent check ins, and it is also very true when in business with friends. But you can get over it and use different methods to do so. Take my example:

I am the managing member (CEO/President role) of a 5 member LLC. I started in college with a best friend, and over the course of 4 years developed it further with adding two more friends and one outside position. Now, these friends know me through and through, and have the professional qualities and skills needed to fulfill what I need them to do, so it was not an HBO entourage driven choice to have them sign on, haha.

At some points, I had a difficult time convincing the need to meet via conference call once or twice a week, as well as in person once a month. We all had/have full time jobs as well, 2 traveling for them as well, so when hearing of more meetings and call ins that natural reaction at times was to question the need for such meetings as "we will see each other when we go out Saturday".

It is never easy when conflicts occur and it is with friends, and some would think it to be easy as you know each other enough to "break em" a bit, however they also know YOU too, and at times can feel like it is "their friend" not managing member, who is asking them for something. This is natural and you will see it inevitably, but so long as it is within reason there is no real problem posed.

What I did to get through this was to switch off leading meetings. This allowed them to feel more involved and to get the chance to be active and put their own twist on how we would cover things, rather than it always me being the ring leader and stuff getting too routine. This helped alot and lead to a great amount of new ideas and independent development and research as they were excited to "unveil" the idea at the next call/mtg.

To your last point, it is absolutely ok to get stern if need be, if justified and done with tact. Everyone needs to remember it is a business, with deadlines, goals and expenses that need to be paid and an image to maintain to your customers. The lackadaisical aspects of friendship cannot impair your ability to call attention to gaps or struggling within your business practices. It is tough, but in the end, everyone usually understands one another and realizes the end goal is the success of the business and everyone owes it to each other to perform at their best.

Hope this helps a bit.

Guy

[invertabritt08]

Conducting weekly, monthly or yearly meetings is a great way to connect with your staff and let them know that their opinions are being heard. It's also a great way to ensure that your business is on track.

Send out an agenda, ask for feedback, and try to keep meetings short and relevant.

Understanding your employees personality types can help you decide how to approach different subjects, whether it be goals or constructive criticism. Remember, your ability to adapt can be one of your greatest assets.