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About This Episode

In this episode, we’re going to help you learn how to conduct a year-end review that focuses not just on financial performance but team performance and organizational culture. Experience doesn’t make you wiser. Evaluated experience makes you wiser. We’ll walk you through a few things you can do on your own or with your team to wrap up and review the year. Our goal with this episode is to help you maximize what you learn from this year, remind you of all that you accomplished, and give you something to go back and celebrate with your team.

 

Your One Next Step

Download this episode’s activation guide, which is BELAY’s Year-End Review Form. It’s a simple template with key questions to ask and areas of the business to consider as you reflect on the year. With each section, we leave blank space for you to jot down your thoughts by yourself. It’s also something you can use with your team by having everyone fill it out and share their perspective.

 

Learn More

 

In each episode, we highlight one next step for you and provide an activation or delegation guide to help you immediately take action, start applying what you learn, and get your team to help you.

1. To grow as a business, you have to begin putting metrics in place to measure your success.

Start by having really clear goals and a vision for each year. It’s not just about making X amount of profit, but how are you going about making that profit? How do you plan to go from where you are to becoming even better – the best in your industry or community? How many new clients do you want this year? This is about taking your vision and putting a plan on paper to get there, making sure you continue to review and measure along the way. If you don’t do that, how do you know if you’re making progress or faltering?

2.You have to fail to know what works.

Don’t be afraid to mess up! Spend time each year looking back on what went wrong and what you might need to stop doing. These are the things that provided little to no ROI and maybe sounded great on paper but just didn’t pan out. Kill the sacred cows when needed and don’t continue doing the same thing if it isn’t working, even if “you’ve always done it that way.” The key here is to be honest with yourself, your team, and each other in assessing all the different elements of your company, like products, processes, etc.

3. Be transparent and willing to share the good, the bad, and the ugly with your whole team.

At BELAY’s weekly staff meeting every Monday, Tricia shares different metrics and gives a quick 10-minute “State of BELAY” presentation. Treat your team like adults. You’ll gain their respect and you’ll never catch them off guard when there’s a big announcement or something changes. Give revenue updates, hiring news, contractor pool updates, and information about where there might be gaps. This is also a great time to share positive news and “rally the troops!” Do all this so, when you get to the end of the year, everyone will pretty much already know whether it’s been a good year or not. There will be no surprises.

Do you currently have a year-end review process? If so, what does that look like?
What are at least 3 key metrics that you are (or need to be) measuring and reviewing for your organization? Take some time to think about this if you haven’t before.
Are there currently processes, products, services, or other elements of your business, that aren’t working? Be honest! Is it time to put them to pasture? If not, how much longer will you continue evaluating them?
What are 5 big goals for your company in 2021? What specifically will you be doing to achieve those goals?

People pay attention to what you are paying attention to as the leader.

Tricia Sciortino

To see the long view in your organization you need to know the metrics.

Lisa Zeeveld

You have to fail to know what works?

Tricia Sciortino

As the leader, it’s your responsibility to put pen to paper and decide what
metrics are important to your organization.

Lisa Zeeveld

Set goals for your team members that feed into the larger goals of your
organization.

Tricia Sciortino

(03:33) Why do so many leaders fail to do year-end reviews?

(4:35) Starting a company is awesome, but to be successful you have to continue measuring, monitoring and reviewing so you can continue to grow.

(6:48) The value of measuring and putting metrics around your culture.

(7:53) What exactly should you be reviewing?

(10:05) How BELAY conducts its year-end review process.

(13:22) Anonymous vs non-anonymous surveys on employee engagement.

(15:45) Why it’s important to talk about what didn’t work and things we no longer need to be doing.

(16:22) The value and process of sharing the good, the bad, and the ugly with the whole team

(21:00) “People pay attention to what you are paying attention to as a leader.”

(22:08) You have to start by sitting down and determining what metrics you need to track every year. Then look at it monthly, quarterly, and annually.

(23:02) Ways that BELAY measures and rewards individual performance.

(27:18) Spend time evaluating what you want to measure. It’s your responsibility as a leader!

(29:07) This week’s One Next Step: Download this week’s activation guide: BELAY’s Year-End Review form, a simple template with key questions to ask and areas of the business to consider as you reflect on the year.

Speaker:
Welcome to One Next Step. The most practical business podcast in the world, helping you get more done, grow your business and lead your team with confidence with tips and tools you didn’t get in business school. Here are your hosts, Tricia Sciortino and Lisa Zeeveld.

Tricia Sciortino:
Welcome to One Next Step, the practical business podcast that helps you run your business and make it stop running you so you can enjoy your work and your life. I’m Tricia Sciortino the CEO of BELAY.

Lisa Zeeveld:
Hey, I’m Lisa Zeeveld, the COO of BELAY. Together we are T and LZ. We have known each other since 2005 and have worked together for almost a decade. Wow. So hard to believe. We’ve been growing a 100% remote business from startup to being recognized on the Inc. 5,000 Fastest-Growing Companies list for six years running.

Tricia Sciortino:
LZ and I have learned a lot along the way and have made some great friends and partners. For One Next Step we are cashing in some favors to bring you episodes filled with excellent content delivered by some talented people. And we may have a thing or two to add ourselves. The One Next Step is here to help you on your leadership journey.

Lisa Zeeveld:
Each week we release a new episode, answering your questions about running an organization. We will always highlight one next step for you to take immediate action on and include an activation guide that reinforces what you’ve heard.

Tricia Sciortino:
We’re excited you’re with us today. In this episode, we’re going to help you learn how to conduct a year-end review that focuses not only on your financial performance, but your team performance and organizational culture.

Tricia Sciortino:
Experience doesn’t make you wiser, evaluated experience makes you wiser. We’re hoping this episode helps you maximize what you learn from this year, reminds you of all that you accomplished and gives you something to go back and celebrate with your team.

Lisa Zeeveld:
Since we’ve launched this podcast, we and some of our guests have talked about understanding metrics and the greater narrative in the business. You discover that bigger story by asking questions about what the metrics are telling you. As business leaders we learn from our mistakes and our successes when we pause to evaluate them. In this episode, we’ll walk you through a few things you can do on your own or with your team to wrap up and review the year.

Tricia Sciortino:
Before we hear today’s podcast, let’s talk about end of year reviews. As I mentioned, this is your
opportunity to focus on financial, team and organizational performance and culture. So today’s One Next Step is to download this episode’s activation guide, our year-end review form.

Lisa Zeeveld:
It’s great. The simple template has key questions to ask and areas of the business to consider as you reflect on the year. With each section, we leave a blank space for you to jot down your thoughts and bonus, it’s also something you can use with your team by having everyone fill it out and share their perspective.

Tricia Sciortino:
Well, let’s get into how we extract the lessons and highlight the achievements from this year with a year-end review. It’s hard to clearly see where you’re going when you don’t know where you’ve been.

Lisa Zeeveld:
Exactly. All right. So why don’t you and I share how we navigate the year-end review on our own and with the rest of our organization. All right. Let’s get into this Tricia. Okay. So we know we have worked with thousands of leaders and business owners and surprisingly, the majority of them don’t do a year-end review. What is all that about? Why don’t they do that?

Tricia Sciortino:
They’re not organized.

Lisa Zeeveld:
Yes.

Tricia Sciortino:
And they do not have good habits.

Lisa Zeeveld:
No.

Tricia Sciortino:
And they don’t have a process in place. That’s what I’m going to say. They’re not organized. They don’t have a good process. Maybe they don’t even have goals or they’re completely unclear what they are as an organization.

Lisa Zeeveld:
Yeah. I’m pretty sure you just said a bad word when we were reviewing this. I think you should just say it. You said there’s some shitty leaders out there who just don’t think about doing this, right?

Tricia Sciortino:
Yes.

Lisa Zeeveld:
They’re probably good at a certain area of the business. Maybe they were the visionary to create the business but at the end of the day, they’re just not good leaders when it comes to actually reviewing metrics and diving down into the lessons and celebrations from a year of success that they had.

Tricia Sciortino:
Yeah. Because I think a lot of entrepreneurs are very creative and innovative and they like to start things.

Lisa Zeeveld:
Right.

Tricia Sciortino:
Now, starting companies and organizations is awesome. But with that, success means measuring, monitoring and reviewing things so that you can continue to grow and make right decisions. It’s hard to make right decisions if you don’t know how you ended up where you are in the first place. So, I think operating a business is very different from owning a business or starting a business.

Lisa Zeeveld:
Yeah. And I think back to when we first got started and there were even some things that we didn’t even know how to measure, so I don’t want to go down that track, but I think it’s worth saying that when I’ve talked to my friends and peers and other business leaders, they don’t really even know what to track.

Lisa Zeeveld:
So I think that that’s part of it, there becomes this fear because maybe they’re installment revenue business, maybe they’re a consultant and they’re like, “Okay, that’s awesome. I can review it. But what does that tell me about the next year?” Right? They’re not able to put all the pieces together because they’re only good at consulting or they’re one heck of a dentist, but outside of that, they don’t know what to do with those metrics. So that could be part of it too.

Tricia Sciortino:
And I think you really have to start by having a really clear vision and goals and KPIs for your year. Even if you’re a solopreneur.

Lisa Zeeveld:
Right.

Tricia Sciortino:
I mean, what is your goal? Nevermind I want to make X amount of money.

Lisa Zeeveld:
Right.

Tricia Sciortino:
But how are you going to make that money? Do you want to provide the best service? Do you want to be the best dentist in your community? Do you want to have X amount of new clients by the end of the year? So I think it’s just taking the vision you have and saying, “How do I get there? And let me put some things on paper.”

Tricia Sciortino:
And it’s great when you put those things on paper, but if you’re not reviewing them and monitoring them at least annually, and we can talk about the frequency with which we review those things, then how do you know you’re making progress? How do you know where you’re failing or achieving? And then you don’t stop to celebrate when you have done a great job.

Lisa Zeeveld:
Right. Yeah. I mean we’ve been really focusing on just financial metrics. I think we’ve talked about that in a few of our podcast episodes, but I mean, there’s a lot to be said on measuring and reviewing your culture on top of it.

Tricia Sciortino:
Yes.

Lisa Zeeveld:
So it’s not just about having financial metrics, but are there, we do this at BELAY. Over the years, we’ve had a big five, I think this year we’re going to a big three. We’re kind of narrowing our focus down. But one of those has always been we wanted to have a great culture.

Lisa Zeeveld:
And so we’ve learned to put metrics around our culture, that includes surveys and conversations so that we know as an organization holistically, yes, we want to be really, really strong financially, but we want to be a place that people want to come work for and then stay, and that’s important to track too.

Tricia Sciortino:
Right. And you might have a desire for what your brand speaks in the market? How is your brand influenced? Are you known for being the best at what you do? What does your brand say about you?
And we always focus on that as well. It’s important for us that our brand speak highly about us in the market.

Lisa Zeeveld:
Right.

Tricia Sciortino:
So we review that as well. What does it say about us out there?

Lisa Zeeveld:
Yeah, totally.

Tricia Sciortino:
Yeah. So let’s talk about the what part, right?

Lisa Zeeveld:
Yeah.

Tricia Sciortino:
So we have developed over the last 10 years many different things we do to review all of those areas, culture and branding and growth and revenue and all the things. So I think we can really share some great insights on things that we’ve done here that worked for us. And I’d love for you to kick it off.

Lisa Zeeveld:
Yeah. I mean, I think the what really does come down to financial metrics, creating dashboards and metrics and we’ve said it before, if you don’t know what to track Google Mr. Google himself, great resource, go out there and start looking at what are industry standard for things depending upon where you’re at. Surprisingly, you can even get some good private company information just from articles.

Lisa Zeeveld:
I know that we’re privately held. We share some things on occasion. Other privately held companies do too, if you’re smaller, but start creating dashboards and metrics around things that are key indicators for your industry. I think that’s really important.

Tricia Sciortino:
Yes. And it doesn’t have to be fancy.

Lisa Zeeveld:
No.

Tricia Sciortino:
I mean, you can start it out with a Google drive doc or an Excel document. You don’t need fancy
technology to help you monitor or create kind of the list of things that you’re going to be paying
attention to. You just put it on a spreadsheet.

Lisa Zeeveld:
Right. Yeah. Because it could be you want to track, obviously, your number of new customers or how often you offered that service or sold that product, right? So you might want to measure units. If you’re a service-based business or you actually have clients you want to see if you have any churn. So perhaps you were looking at how many clients you are losing. If it’s a product, how many people are not returning. So that’s some good metrics to follow their,
obviously revenue. Do you have any refunds? Do you have any credits? Those types of things. And then of course you want to track your cost of goods too, because your margins are going to get all out of whack if you’re not tracking that too. So putting all of that data in one place that you might be looking out on your monthly financials, but if you can create some sort of dashboard to look at that on a monthly and annual basis, and then we have done it on a rolling 12 month basis. And then of course, year over year, I think that’s a great place to start on what to measure.

Tricia Sciortino:
Yeah. And then what we do at BELAY is in Q4 or sometimes late Q3, we actually start our year-end review as we’re heading into the fourth quarter. So we will get together as a leadership team and also as an executive team separately and together and we really spend a couple days. We get away, we get out of the office and we get out of the day-to-day. We free ourselves up and we sit and we review where we’re at.

Tricia Sciortino:
This is two things. Number one, we’re able to really candidly look at all the different areas of the
business where we’re succeeding, where we see gaps, how we can end Q4 strong. And it also helps us identify roadblocks and project the upcoming year. So it’s a two-fold for us. Is that we’re able to do kind of our year-end review at the same time leveraging that information and review as a proponent to plan for the upcoming year. We can say, “Oh, we failed in X, Y, Z so next year we’re doubling down,” or whatever that may look like.

Lisa Zeeveld:
Yeah. And I think too I mentioned looking at your financials. I think those obviously tell a great picture. They’re not always going to show your churn. They’re not always going to show units that are being lost or gained. And so when you start to put it on a big picture and look at it in 12 months or 18 months rolling, sometimes it’s going to tell you things that you may not have seen when you were so granular and close to it.

Lisa Zeeveld:
So that’s one of the things that we really like to do when we get together on an annual basis is look at that on our graph across those 12 months. And are we seeing dips and things like, “Oh, I remember May kind of felt like it was a little bit of a slower month, but wow, when I compare it to April and I compare it to June, I can really see that there is a dip in that.”

Lisa Zeeveld:
And so I think when you’re at the big picture and you’re allowing yourself to get out of the day-to-day of the business, because we know even remote, y’all, even remote, you can have everything you want on your calendar. It does not mean that you’re not going to be interrupted by something else.

Lisa Zeeveld:
So we remove ourselves from the day-to-day business of our day-to-day of running the business. We’re able to have a clearer mind and really dive down deep into it. Like you said, to start to look at forecasting for the next 12 months. And even now at the maturity we are in our business three and five years out, what you wouldn’t be able to do if you didn’t do that annual review.

Tricia Sciortino:
Yeah. And I think to just add to that point it’s not only are we really diving into the metrics and all
different metrics, wins, losses, churn, termination, financials, they all tell their own story, but we’re also really focused on staffing, high performers, low performers, succession planning, who’s in your pipeline.

Lisa Zeeveld:
Yes.

Tricia Sciortino:
If we’re projecting next year we’re going to need to hire X amount of people and we’re going to have new leadership positions. Do we have a pipeline of people? So we’ll really spend a lot of time talking about staffing, having the right people on the bus, are they on the right seats? Do we have the strength we need in all the areas to grow accordingly? And with that, we talk a lot about culture and engagement as an organization.

Lisa Zeeveld:
Yes.

Tricia Sciortino:
So I think we marry all those three things and realize that they all kind of work together. So we do actually do an employee engagement survey towards the summer of every year where it is completely anonymous and we send it to our team and we solicit feedback. And we could have a whole separate dialogue about anonymous surveys.

Lisa Zeeveld:
Yes. Yes. We’ve done both. We’ve done non-anonymous and anonymous. We got some opinions on that.

Tricia Sciortino:
If you want the truth, you make them anonymous, but be ready to get the truth. But at the end of the day, if you want the truth taking the names off of those things will actually really give you great information.

Lisa Zeeveld:
Yes.

Tricia Sciortino:
So I would say open yourself up to that possibility, but there’s also If somebody is going to say
something that they feel like needs to be improved, you don’t want them to hide behind it.

Tricia Sciortino:
So do you want a name attached, but we have gone in the vein that honestly the information’s more important than where the information’s coming from. So we go with the anonymous surveys and we do them annually and they really help guide the staffing and culture decisions we make going into our next fiscal year.

Lisa Zeeveld:
Yeah, totally. And another thing too that we do during that time period is we look at what type of
improvements or services technology do we want to bring into our business based on the year that we’ve had, right? And so sometimes by looking at staffing, by looking at our metrics we’re able to see gaps that we need to fill.

Tricia Sciortino:
Right.

Lisa Zeeveld:
And so this is also another good time at your year-end review to say, “Where do we need to add more technology? Or is this a service we need to sunset?” Y’all we have done that.

Tricia Sciortino:
Right.

Lisa Zeeveld:
We have started a lot of great services, and then we have decided they fell flat.

Tricia Sciortino:
As many as we’ve stopped. Yes. We start a lot and then we stopped a few too.

Lisa Zeeveld:
This isn’t all rainbows and unicorns over here you guys. If you’ve just joined us.

Tricia Sciortino:
Sometimes you get to bring things out to pasture, you just got to let them go.
Lisa Zeeveld:
Yes. We’re not afraid to try new things, but we’re also not afraid to go, “Okay. That was a great idea. Thank you.” Let’s flush out all the bad ideas first, right?

Tricia Sciortino:
Yes. Yes.

Lisa Zeeveld:
I love when David from Schitt’s Creek says that. He’s always like, “Okay, yes, let’s flush out all the bad ideas first.” And sometimes it takes doing that.

Tricia Sciortino:
You have to fail to know what works, right?

Lisa Zeeveld:
Yes.

Tricia Sciortino:
We are not afraid to fail. So we do spend time, even at our year-end review, talking about what we did wrong? What did not work out? What should we stop doing? Actually, that’s one of the questions we have our marketing team do as they do their strategic planning at the end of every year.

Tricia Sciortino:
The first question on the marketing plan is, what are we stopping? And we’re really looking at what are the things we did, Why did we do them? There was no ROI. They served no point, they sounded great on paper but they were not in real life. So literally thinking to yourself, “What are we no longer doing?” Is an important question to ask yourself at the year-end review as well.

Lisa Zeeveld:
Yes. Yes. And then of course, after we do that year-end review with our leadership team and as
executives, we bring that information back and then it’s really important that you share that information with your team. And so for us, we do that in a multitude of ways. One of which is that weekly staff meeting that you’ve heard us talk about before.

Lisa Zeeveld:
So, T, I know that every week you are sharing with our team metrics, things that are on the horizon. So why don’t you tell us how you go through that process and what you share with the team at weekly staff meetings?

Tricia Sciortino:
Yeah. Happy to. That’s one of the decisions we made, thankfully in 2019, which worked out perfectly for 2020. Is that we decided that we were going to treat our team like the grownups and adults they were.
And we never wanted anybody to be surprised with the state of BELAY. So I’m going to call it the state of BELAY.

Lisa Zeeveld:
Yes.

Tricia Sciortino:
Every Monday morning, I am sharing the state of BELAY with our entire organization on Zoom.
Mandatory meeting, everybody must attend, cameras on. We’re engaging, meeting and I’m giving them the good, bad, and the ugly. I’m not sugarcoating anything. So in those meetings, I’m sharing how our revenue and new sales are doing. Are we up? Are we winning? Are we down? Is there a deficit?

Tricia Sciortino:
We’re talking about our churn? Is it looking okay? Is it positive or not? We’re talking about our talent flow and our contractor pool. And if we have gaps or not, so it’s a five minute, five to 10 minute. Maybe sometimes I’m a little winded. It’s 10 minutes. Sometimes I jump on a little passion pedestal and I start preaching about things, but I’m allowed to. That’s my job.

Lisa Zeeveld:
Passion is good.

Tricia Sciortino:
Yes. Yeah. Especially when there’s maybe areas where we can see improvement, right? You kind of have to rally the team and show your passion on how we can do better in this one area. And so we share that with the organization every single Monday so that nobody is surprised when we get to the end of a month or the end of a quarter or the end of the year.

Tricia Sciortino:
When we say we had a great year or we didn’t, everybody kind of already knows whether or not we’ve had a great year or not, because We keep no secrets.

Tricia Sciortino:
We want to let you know that One Next Step is brought to you by BELAY’s Social Media Strategists service. While social media is great for business, we know it’s a lot to manage. Most small business owners don’t know what to do or how to use social media so they don’t even try. Are you unsure of which articles to share, what to retweet or how to schedule that video? Do you feel like you don’t quite know or understand how to speak to your audience? Are you daunted by learning the ins and outs of a new or any social media channel?

Lisa Zeeveld:
And even if you’re trying to get into the game, managing your social channels, promptly responding to comments and messages and tackling scheduling takes time. And well, that may be time that you don’t
have to spare, you can make the most of your social media presence. And that’s where we can help.

Lisa Zeeveld:
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Lisa Zeeveld:
We’ve talked before how we do events, we love events. 2020 threw us a curveball. We haven’t been able to get together as much as we wanted to which is why weekly staff meetings were super important. But we also make sure that you and I, tag team, the dynamic duo of T and LZ, that we always do presentations at those events where we show where we’re at maybe in that quarter, how we’re trending for that year.

Lisa Zeeveld:
And especially at the end of the year, we always do a recap in person because to your point about the passion pedestal, they need to see us get excited when we’ve done it things really, really right and they also need to see when we’re perhaps disappointed because there is disappointment when things don’t go the way we wanted to.

Lisa Zeeveld:
Hey, 2020 is not turning out the way we expected it to and it’s okay to be a little disappointed, but we love celebrating with them. So, whether it’s a weekly staff meeting, whether it’s in team meetings or events, our team always knows where we are at, not just on year-end reviews, but year-end review is super, super important from all aspects of your business.

Tricia Sciortino:
Yes. So people pay attention to what you are paying attention to as the leader.

Lisa Zeeveld:
Yes.

Tricia Sciortino:
So if you have an expectation that we’re going to achieve X by the end of the year and you never follow up about X, I’m going to guarantee it’s not happening.

Lisa Zeeveld:
Yes.

Tricia Sciortino:
That’s why we kind of don’t wait till the end of the year to go, “Hey, by the way, we had a goal to sell 500 widgets and by the way, we only sold 4,000. It’s November.”
Lisa Zeeveld:
Yes.

Tricia Sciortino:
Oh, well, you’re kind of tracking all along the way. So by the time you get to the end of the year, again, nobody is surprised. Those are my most favorite meetings is our end of year all team meetings. We have ones planned in November and we will get to share in person how we’ve done for the year.

Tricia Sciortino:
We obviously will still have kind of six weeks left or whatever that is for the remainder of the year. But again, it’s important for the team to know what we are annually paying attention to. And then that’s also our opportunity to reset what the following year is going to look. Cast vision for now what’s coming based on where we’re at. So those year-end resets and evaluations are so important.

Lisa Zeeveld:
Yeah, absolutely. So here’s what I’ve got for you guys, listeners, if you have not sat down and really found some metrics that you want to track, that’s the first place to start. You really have to create a dashboard, a Google sheet, whatever you want to call it, even if it’s just a notebook right now.

Lisa Zeeveld:
Start thinking of things that you want to track. And so that you can look at them on an annual basis, 18 month basis. And like I said, we’ve been doing it now for 10 years, so I can pull up a spreadsheet and see all the data that I need to for 10 years. So definitely find what you want to start tracking and then look at it monthly, quarterly, and annually, do it every single year.

Tricia Sciortino:
That was so the one next step right there LZ.

Lisa Zeeveld:
It is. It is. Right?

Tricia Sciortino:
You kind of gave the answer before the question.

Lisa Zeeveld:
I know. We are the most practical business podcast in the world.

Tricia Sciortino:
That was perfect. That was perfect. Yes. So, since we’re talking about team, I just want to marinate just for a minute on the individual. So obviously what we talked about is what our leaders do, how we get together and evaluate, how we push that information into our team and keep them engaged and aware of all of our performance metrics and our culture survey.

Tricia Sciortino:
And then the next thing I just wanted to quickly touch on was just what that looks like for each
individual and how our team performs. Because like we talked about staffing and engagement are also really important to a healthy organization. It’s not just about metrics and numbers and sales. So we do have some things that we do here for our team members that I think is great stuff that we could talk about for a minute.

Lisa Zeeveld:
Yeah. Yeah. I think it’s really important. And we also, I think it’s important to correlate an individual’s performance with their salary. I mean, I was on a webinar last week where we were talking about how people show up to a job to earn money. I don’t know why it is that it is,

Tricia Sciortino:
Imagine.

Lisa Zeeveld:
I know. But for some reason you go to work and then people don’t want to talk about money. So let’s get that on the table. People showed up, they are now working for you because they want a paycheck and guaranteed when they work there long enough, they’re going to want a salary increase. Shocking, right?

Lisa Zeeveld:
So when we’re talking with our team about how the company is performing, that probably helps you determine the pool available for those salary increases. And then you talk about their individual performance, which leads into how much do they actually get, right?

Tricia Sciortino:
Right.

Lisa Zeeveld:
And so if you skip that, I’ve worked for organizations, family members have worked for organizations where they just stop talking about performance and then it really leaves a team member kind of scrambling and going, “Am I actually getting an annual increase?” When you talk about people leaving a manager, heck people leave that company, right? Because they don’t know anything.

Tricia Sciortino:
For sure. Yeah. I think it’s perfect that you have your organizational goals and metrics, but so does every individual that feeds into the bigger goal and metrics. We have one-on-ones with our team members weekly where their manager is meeting with them and kind of setting and assuring them that they are where they’re supposed to be. And they have all the feedback they need. And then we do actually quarterly coaching for performance with all of our team members, because individually we collectively win.

Lisa Zeeveld:
Right.

Tricia Sciortino:
So the individual conversations all tie up to the year-end review. You’ll get to the year-end and you’ll say, “Okay who contributed to the success and who did not contribute to the success?”

Lisa Zeeveld:
Right.

Tricia Sciortino:
And at the end of the day, people will earn what they deserve.

Lisa Zeeveld:
Yeah, totally. And part of that too, not just on their performance when we set those key metrics, but I want to say something really quick. Part of those key metrics, the things that we want them to hit, also revolve around culture. So we know we have spent a few other episodes of this podcast talking about how to hire great team members. And every single time, it’s not just about hard skills. It’s also about soft skills.

Tricia Sciortino:
A lot.

Lisa Zeeveld:
So we go in to have these conversations, whether they are one-on-ones weekly or when you are doing your quarterly coaching for performance, culture is a part of that. So how are they showing up? They could be the very best sales person, but if they’re a jerk to your team, why do you have them? Why are they still there?

Tricia Sciortino:
Oh, yes. I think we’ve lost just as many employees due to culture than we have for performance.

Lisa Zeeveld:
Yes. Yes.

Tricia Sciortino:
Yes.

Lisa Zeeveld:
And so when we’re together and you were talking earlier about evaluating team members, we talk about not just how they’re performing or they’re reaching their KPIs, but are they just a joy to be around? Do they have a positive attitude? Are they encouraging? Are there areas where maybe we’re sanctioning incompetence because they want to be terminally unique, right? That one

Tricia Sciortino:
That’s a word we like to say.

Lisa Zeeveld:
I know.

Tricia Sciortino:
Terminally unique does not work well in our organization.

Lisa Zeeveld:
No. So they’re that one person that you give out specific instructions and then yet they do it totally different. So culture is also something to be measured. And so add that to your KPIs for those annual reviews too.

Tricia Sciortino:
Absolutely. Okay. So I feel like you kind of already gave a great practical One Next Step tip for our audience. So would that be your one next step if we were going to kind of tie this in a bow and say, “Okay, what is the one thing that we could go do right now to really start instituting an end of year review?” It sounds like you would say, “Start putting some things on paper.”

Lisa Zeeveld:
Yeah. I think that they just need to spend some time evaluating what they want to measure.

Tricia Sciortino:
Yes.

Lisa Zeeveld:
Take time. Get away from the office, get away from the day-to-day and actually put pen to paper and say, “These are the things that I want to track and these are the things that are important to me.” Start there today.

Tricia Sciortino:
Yes. Yes. And I would say for the entrepreneurs in you who hate the thought of doing that, it is your responsibility. It is your responsibility. Stop whining about the fact that you don’t like to do those things.

Lisa Zeeveld:
Right.

Tricia Sciortino:
You’re the owner and entrepreneur of this business and it’s your job to do these things. You want to steward the business well, you need to sometimes force yourself to do things you don’t love. That’s part of leading and running a business is you don’t sometimes love all the things, but they’re necessary things. So if you want to continue to grow and have a healthy thriving organization and if you don’t love these things, do them anyway.

Lisa Zeeveld:
That’s right. Hey, future business valuation is going to depend on it.

Tricia Sciortino:
That’s right.

Lisa Zeeveld:
If you ever want to get out of this business, if you ever want to sell it see the long view, long view, you need metrics.

Tricia Sciortino:
Yes.

Lisa Zeeveld:
There you go.

Tricia Sciortino:
It almost sounds like a Nike commercial. Just do it.

Lisa Zeeveld:
I like it. I like it. No more crappy leaders. No more crappy leaders.

Tricia Sciortino:
No.

Lisa Zeeveld:
Well, this has been super fun.

Tricia Sciortino:
Good conversation. I hope you guys got some great nuggets from that and that you’re just going to go out there and do it.

Lisa Zeeveld:
Yes.

Tricia Sciortino:
Yes.

Lisa Zeeveld:
All right. Well now it is time for the one next step. As the most practical business podcasts, we want to make sure that taking action isn’t overwhelming to you. So each episode we’re going to offer you one next step to propel you and your business forward.

Lisa Zeeveld:
Today’s next step is to download this episode’s activation guide, which is our year-end review form. Yep. We’ve taken care of all the hard work for you. It is a simple template with key questions to ask and areas of the business to consider as you reflect on the year.

Lisa Zeeveld:
With each section, we leave blank space for you to jot down your thoughts by yourself. It’s also
something you can use with your team by having everyone fill it out and sharing their perspective.

Tricia Sciortino:
Absolutely. I think it’s going to be a great resource. To download it now, text the phrase, one next step to 31996 or visit onenextsteppodcast.com. And when you request today’s guide, you’ll also receive a summary of today’s episode, which will include key quotes and takeaways and links to resources mentioned in the episode.

Lisa Zeeveld:
That’s right. Thank you for listening to this episode of One Next Step. We hope you enjoyed it and that you will join us next time for more practical tips and actionable tools to advance your business one step at a time.

Tricia Sciortino:
Until next time, own your journey. It’s your life and your business. It’s up to you to create the life and organization you want.

Lisa Zeeveld:
Start by making today count.

Speaker :
Thanks for listening to One Next Step. Be sure to subscribe on Apple Podcasts or follow us on Spotify, then join us next time for more practical business tips and tools to help you get more done, grow your business and lead your team with confidence. For more episodes, show notes and helpful resources visit onenextsteppodcast.com.

Download this episode’s activation guide, which is BELAY’s Year-End Review Form. It’s a simple template with key questions to ask and areas of the business to consider as you reflect on the year. With each section, we leave blank space for you to jot down your thoughts by yourself. It’s also something you can use with your team by having everyone fill it out and share their perspective.

 

Learn More

 

In each episode, we highlight one next step for you and provide an activation or delegation guide to help you immediately take action, start applying what you learn, and get your team to help you.

Win a Free Book!

Each week for the rest of the year, Tricia and LZ will be going back and forth giving away a copy of one of their favorite books. 2020 was quite the year, so we want to help you and someone you care about to get a head start going into the new year.  

This week we are giving away one of my top picks which is “Leadership and Self-Deception” by The Arbinger Institute.  To be entered to win, you need to:

  • Follow Tricia and LZ on Instagram (@triciasciortino and @lisazeeveld)
  • Tag 3 friends or colleagues on this week’s podcast post who you think would love this book and the One Next Step Podcast
  • And use the hashtag #onenextsteppodcast in your post

If you want to earn some extra credit, share their Instagram post in your story and tag @belaysolutions, @triciasciortino, and @lisazeeveld for an additional chance to win. 

Subscribe Today!

To get practical business tips and tools delivered to you each week, subscribe to the podcast via email here or on your favorite podcast platform (which we’ve listed below).  It’s like DVR for podcasts.

 

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Join Us Next Week

Thank you for listening to One Next Step.

Next week we’ll be joined by Anthony Flynn to talk about how to balance your professional success and personal happiness. Anthony is a speaker, author of multiple books and the CEO of Workfaith Connection. He’ll share with us tips and strategies to make sure your success at work adds to, not subtracts from, your life.