Find Daily Opportunities to Mentor Junior Employees
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Every business needs a plan of succession, whether in response to a injury or death of the owner or other key individual, or for a business to be handed down to the next generation.  The best place to find those who can lead to the next stage of the life of your business may be already working for you.  Mentoring the next generation of leaders is some of the best investment of time current leadership can make.

This post was sent to me from the Harvard Business Review.

 

Find Daily Opportunities to Mentor Junior Employees

Many companies have formal, hierarchical mentoring programs nested somewhere in their HR department. But evidence shows that these programs alone won’t sufficiently engage or develop junior talent. If you’re interested in mentoring, think about becoming a “mentor of the moment,” by seeking development opportunities in daily interactions. Check in regularly with junior colleagues. See how things are going and offer support or resources as appropriate. Ask questions about their development such as: “In a perfect world, what would you be doing in 10 years? How can I help make it happen?” When you observe a junior employee in action, make time to provide reinforcing feedback about what you found most successful and what you learned. This type of mentoring, while informal, often pays off big for organizations in terms of better retention and more loyalty and commitment among employees.

This tip is adapted from “Real Mentorship Starts with Company Culture, Not Formal Programs,” by W. Brad Johnson and David G. Smith

 

Would you like to make a comment?  click “comments” at the top of the page!

 

 

Should I increase my rates?

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A waste hauling business has four primary responsibilities:

  1. To its customers, to provide a good value in service for the rate that is charged,

 

  1. To its employees, to provide a safe, meaningful and respectful work environment for a level of pay that is fair and equitable,

 

  1. To its vendors and its community, to pay its bills and taxes in a timely fashion and according to agreements the company has made,

 

  1. And to its owners, to provide a reasonable profit and return on their investment, and the ability to reinvest in the business.

 

From time to time, there is a need to adjust rates to reflect the increased cost of providing service to our customers.  Disposal, insurance, wages, equipment and other costs increase over time, and a business needs to cover the costs it can no longer absorb.

 

Here are some thoughts to consider regarding rate increases:

  • Long before you increase rates, make sure your service quality is high. Customers will not want to spend more if your service quality is poor.

 

  • Do not apologize for a rate increase. Many of the reasons for a rate increase are out of your control.

 

  • Prepare your staff by providing talking points to defend your rate increase.  Consider giving “good” customers who complain an extra quarter at the old rate to adjust their budgets accordingly, or offer an alternative such as a smaller cart.   Taking calls about a rate increase is never fun.  The reality is the callers are but a very small fraction of your total customer base.  Break the increase down, instead of saying “$1.00 per month”, say “less than $.25 per week”.

 

  • If you offer a discount for paying annually, now might be a good time to convert some quarterly payers to annual payers.

 

  • When explaining a rate increase, highlight the features of the improvements you have made to your business, for example, new hi visibility uniforms or other safety enhancements for your staff or new trucks that emit less pollution. If the reason for the increase is a landfill rate increase, list the ways the landfill protects the environment.

 

  • Small regular increases may be easier for customers to accept than infrequent, larger increases.

 

  • Remember, a dollar from a rate increase falls right to your bottom line. $100.00 from a rate increase requires no additional investment in equipment, no added hourly cost, disposal or fuel cost.

 

  • Yes, there will be pushback from some customers. Usually, these are customers that came for a low price, and would leave you for the next low price or special deal that comes along.

 

  • Have an automatic escalator in contracts that is tied to a percentage, perhaps 3 – 5 % per year. While customers don’t like to see their costs increase, knowing what to expect is helpful for them to make their plans.

 

  • Many times, companies write long explanations as to why they need to increase their rates. Keep your explanation brief and to the point.  Some even raise the rate with a simple one line statement:  “Due to increased costs of doing business, your next invoice may reflect a small increase in your rate.  Thank you for the opportunity to serve you!”  Sometimes, saying less is best.

 

Increasing rates is a necessity.  Watch your costs, and adjust your rates accordingly.   Don’t end up like the hauler in the letter above.  If you would like to leave a comment, click on “comments” at the top of the post.

 

Thanks!

20200124 Out of business letter.

 

 

 

 

The do’s and don’ts of a new waste hauling business, Part Two

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Here’s Part two of The do’s and don’ts of a new waste hauling business.

 

  1. Get involved in local politics. Meet and get to know those elected officials who have solid waste responsibility in your city, township or county.

 

  1. Be a partner with the staff at your city, township, county and state government, become their “go to” for waste and recycling questions.  Your perspective will be respected as a local business, as opposed to a corporate spokesperson.

 

  1. Get to know the local press, but be careful.  Keep your quotable comments abstract, don’t tell them everything you know.  Make no promises.  Be realistically positive.  Become the waste professional they can go to for objective comments

 

  1. Join your state or regional trade association. Seek opportunity to have a leadership position.

 

  1. Get to know your competitors. Someday, you will need each other.

 

  1. Know your business by knowing your numbers. Identify at least three “Key Performance Indicators” that you can follow religiously.

 

  1. Business is built on the street, not in the office.

 

  1. Be a leader first, a manager second.

The do’s and don’ts of a new waste hauling business

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Good morning!  Starting a waste business, is an exciting time.  Talking to people who have done this before, here are some of the things they would or wouldn’t do or may do differently.  Part one is here, part two will be posted later.  If you have something to share, add it in the comments below.

 

  1. Promote a safety culture.  Hi-visibility clothing, hard hats, cameras, proper footwear, driving conduct, etc.

 

  1. Buy a better truck than you think you can afford. It will pay off in the long run.

 

  1. Protect and promote your brand. Consistency in color, graphics, design.  Buy carts and containers of the same color.

 

  1. Be consistent with your service. Same time, week after week.

 

  1. Don’t buy a $60,000.00 pickup truck to plow the lot.

 

  1. Over service your trucks. Money spent in preventive or predictive maintenance is a wise investment.

 

  1. When hiring team members, value attitude over experience. You can teach skills, you can’t change character.

 

  1. Have a good relationship with a local bank. Take the time to teach them the business.

 

  1. Have a good relationship with a large bank or finance company, just in case your growth outpaces your local bank’s ability to lend.
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Thank you all for visiting the new home of Van Tholen & Associates.  Periodically, I will be posting information here that may be valuable to you in running your business.  Your feedback and requests are encouraged and appreciated!

 

Looking forward to serving you,

 

John