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How to Avoid Business Failure in Just 88 Hours

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Chapter 1: The Challenge of Running a Business

Navigating today's economic landscape can be quite daunting for business owners. Each customer plays a vital role in determining the success of a venture. A single critical error, or a sequence of minor missteps, could result in your business shutting down for good.

Your Marketing Investments May Be Misguided

You might invest hundreds, if not thousands, of dollars to create an appealing first impression for your customers. Through various channels—radio, newspapers, TV, the internet, and blogs—you aim to convey why people should choose your business. However, managing what occurs within your business during operational hours is challenging enough. What about the time outside those hours?

The 88 Hours of Influence

What do I mean by 88 hours? I am referring to the time your employees spend away from your business. In a week, there are 168 hours. Employees typically allocate 40 hours to sleep, 40 hours to work, and the remaining 88 hours are free time during which they might share negative experiences about their workplace with anyone they meet. This negative word-of-mouth can quickly diminish the effectiveness of your marketing efforts.

Consider this: The average attendance at weddings and funerals is about 250 people. Each employee has a sphere of influence that can amplify their discontent.

Why Would They Speak Negatively?

You might wonder why employees would voice their dissatisfaction, especially when you compensate them and offer benefits. The simple truth is that they often feel undervalued. Whether this feeling is warranted or not, it remains valid as long as the employee perceives it that way. Research indicates that employees who feel appreciated are more productive, less likely to complain, and present a more positive image to customers.

Creating a Positive Employee Culture

What can you, as a business owner, do to ensure that employees promote your business positively in the world? Here are some actionable ideas:

  1. Collaboration over Hierarchy: Employees should view their relationship with you not as working "for" you, but rather "with" you. They come to work to support their families, and you play a crucial role in facilitating that. Essentially, they are self-employed; when they achieve their personal goals, your business also benefits. Discover what their aspirations are and help them achieve those.
  2. Recognition Matters: Every employee deserves recognition for their contributions at least once every six months. Highlight outstanding performers during monthly meetings, but ensure that recognition is varied and inclusive. There are many positive contributions that you may not notice; encourage others to share these achievements as well, no matter how small.

Some Final Thoughts on Building Relationships

During my tenure as a personnel manager, I routinely met with employees to discuss their personal goals—goals that often extend beyond the workplace. Whether it was starting a family, saving for education, purchasing a home, or reducing debt, these aspirations drive them to come in each day. They don't work for you; they work for themselves.

I made it a point to post these individual goals in the break room so that everyone could see the motivations behind each person's efforts. This practice not only fosters teamwork but also encourages mutual support in achieving personal objectives. Transform the journey towards these goals into an enjoyable and productive experience while at work. When employees feel accomplished and empowered, they are likely to share that positive experience with others.

I hope you found these insights valuable. If you enjoy this content, consider supporting me and other writers on Medium for just $5 a month ($50 annually), granting you unlimited access to exceptional articles. Click this link to join my Medium community.

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For more resources, check out Tom Egelhoff's Amazon Bestselling book, "How to Market, Advertise and Promote Your Business or Service in Your Own Backyard."

Also, consider subscribing to Tom's YouTube channel, "The Art of Learning Small Town Business," and listen to his weekly radio show, "Open For Business," available globally on Saturdays from 8 AM to 11 AM Mountain Time at kmmsam.com—just click "Listen NOW." Feel free to call or text Tom during the show.

Chapter 2: The Impact of Employee Sentiment

Watch 88 Hours of Halo Infinite for insights on teamwork and collaboration in the gaming world, which can relate back to business dynamics.

Encouraging Positive Employee Engagement

Join the Planet Crafter Live Playthrough to see how collaboration and shared experiences can enhance employee relations in any business setting.

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