The Triple Bottom Line (TBL) is about measuring success not by the balance sheet alone but according to “people, planet, profit”. The idea is that a successful business has economic, ecological and social milestones to meet.

You can only be successful if you’ve made progress in all three areas. You treat your employees and consultants fairly, operate in an environmentally sustainable way and of course, make money doing what you do. It’s a concept that has taken the large corporate world by storm, even though I must confess many small business owners I meet today have never even heard of it.

One way of making your small business look big is by setting up milestones and metrics for achieving a healthy Triple Bottom Line. Why should small businesses be subject to diminished expectations? We expect corporations to shell out millions in donations (knowing they’ll get a tax cut) but if a small business plows all of its revenues back into the company (or the owner’s family vacation), it’s not seen as such a big issue. But corporate responsibility isn’t something that magically appears after your business earns its first $5 million or $10 million.

If you want to go big, it can’t all be about receivables and expenditures.

You’ll need to tackle this in an organized way. Sustainable Living Coach Sally Lever has some practical tips for how small businesses can get started:

People

Think about all of the people who are involved with your business. Even if you don’t directly employ anyone else at present, who else do your actions affect? Who else does your business depend on? Your answer might well include your suppliers, your clients, your associates and colleagues. A sustainable business treats all of these people in a way that’s in keeping with its business purpose and sustainability, for example, by employing staff who live locally and sourcing from local suppliers. You could reduce your clients’ needs to travel by providing your products and services local to them rather than centralized wherever possible.

Planet

Many of you will be familiar with the term “Reduce, Re-Use, Re-cycle”. Maybe you are not aware that those instructions are stated in order of priority. That is, it is more important for us to reduce our consumption than it is to re-use items and re-using items is more important than re-cycling our waste. So, uppermost in the sustainable business owner’s mind will be minimizing the negative impact on the planet of running that business by reducing consumption of energy, fuel, water and toxic substances.

Profit

Just because profit has now been relegated to one of three in the business’s bottom line does not make it any less important as a concept. For a business to be sustainable in the sense of growing and surviving long term it will need to generate a profit (unless it was set up as a not-for-profit organization.) What the triple bottom line does is to remind us to keep profit generation in perspective with the other elements. With our business accounts as with our personal finances, if we keep our costs to a minimum and minimize our consumption, the income we need to generate to cover our costs and pay ourselves is reduced.

Linda Chu
CEO – Out of Chaos, Professional Organizing Solutions
www.outofchaos.ca

“If you have a problem, if no one else can help, and if you can find them, maybe you can hire… The A-Team.” Most of my male friends can quote the end part of the introduction of that 1980s show (and newly-released movie) from memory.

It’s a very memorable unique selling proposition for their company. The A-Team in so much demand they literally have to hide themselves from their customers (Well, they’re also being hunted by the US government, but whatever…). Everyone wants them, because they’ve got a unique combination of skills that will take care of your problems even if “no one else can help”. 

Here in Vancouver, we’ve probably got the highest number of entrepreneurs running small businesses per capita in any Canadian city, particularly for sole proprietorships. Like many others, I run a small business that has to be able to compete with big businesses. One way of doing that is by building your A-Team. 

That doesn’t mean going out and hiring the best people out there. But it does mean establishing connections with local businesses who complement the type of services that you provide. That way, when a client needs services with a bigger scope than you can offer on your own, you can still remain part of the project by being part of a team (Actually, the She-Team is a good example of this).

On that note, as a resource for my clients, I keep a list of companies that I can refer handy on my own website to help them assemble the team they need to get the job done. The idea here is that if you have a problem, if no one else can help, maybe you can hire… us. See how that works?

Linda Chu
CEO – Out of Chaos, Professional Organizing Solutions
www.outofchaos.ca

If you want to lead the way in your business, you’re going to have to cut back. Way back.

One of the first lessons an entrepreneur takes to heart is usually that they can’t do it all themselves. They need a team of people to make their dream happen. No one is an engineer, financial expert, marketing professional and receptionist all-in-one. You need to downsize your own contribution to focus on what you do well.

The procedure is roughly akin to what happens when my downsizing house-moving clients need to choose what to take with them to their new abode. They can’t take everything. But how do they choose? Based on utility? Size and space required? Cost that they bought it for (even if it has limited resale value)? Sentimental value? 

The choice for entrepreneurs is a lot easier, actually. Which of your responsibilities are providing real value for your business? Which might be done quicker, more efficiently and at less cost (considering that time is money) than if you did it yourself? These sorts of variables tend to be easier to measure quantitatively. 

Make a list to figure out where you can cut back or out-task and do it. There are only so many hours in the day and to be a leader in your field, you’ll need to focus on what you do best.

Linda Chu
CEO – Out of Chaos, Professional Organizing Solutions
www.outofchaos.ca

Some say leadership is about being able to motivate. Others say it’s about being decisive. But the one thing that all leaders need is the strength of confidence. How do you get that confidence? Well, having a sense of structure helps.

How do you get that structure? It’s not rocket science (Though maintaining good habits can be tricky). Here a few suggestions you can implement today:

1. Use a calendar. I’m still amazed by the number of entrepreneurs I meet who can’t consistently track their appointments and routines. Don’t be like that.

2. Track your time. Use a basic spreadsheet to track how you’ve used your time over at least a two-week period. When you review it, you’ll have a better idea of how to structure your efforts and where some activities might be made more efficient.

3. Use and record processes. Whether you’re working with contracts, budgets, or more creative projects, having repeatable processes boosts long-term productivity.

4. Use agendas for every meeting. Adding a sense of structure to meetings will help you get more accomplished and your clients will appreciate it.

5. Keep your work-space free of clutter. Processes and good habits help you get your mind straight, but having a physical sense of structure will augment that.

One organizing system I teach my entrepreneurial clients to get structure in their work and their lives is the GO System. People around you will notice when you are organized and structured. That’s not all that it takes to be a leader (I’ve known plenty of receptionists and assistants in non-leadership roles who used all of the habits described above), but without it, it’s harder to be taken seriously as the head of the pack.

Taking the time to implement this system allows for fewer details to be trifled with daily and allows you more time, energy and concentration to deal with problems as they arise.

Give the gift of confidence to yourself and others.

Linda Chu
CEO – Out of Chaos, Professional Organizing Solutions
www.outofchaos.ca

Routine. Just saying it out loud instills fear in some. In others, a sense of surrender. People talk about how boredom has crept into their lives, or that their lifestyle could use a change. But the same routine they are complaining about gives them the confidence to succeed.

When people complain they are running on a hamster wheel, it’s because they are not taking full advantage of the structure they have built for themselves. A routine is a testament to past mistakes and lessons learned.

Award-winning journalist and author Malcolm Gladwell illustrates the absolute necessity of routine in his best-selling book, The Outliers (I’ve been re-reading his book – highly recommend it!). After interviewing several of the world’s most successful personalities it became clear that expertise could actually be quantified.

Gladwell realized that it takes roughly 10,000 hours, or about 10 years, to become a true master in whatever skill the person had set their minds to. Staying true to your routine helps you to adapt to life’s challenges and is one of the best ways to develop confidence and win the respect and trust of those you work with.

It is essential to integrate these valuable experiences into a system that flows on proven success and allows you to confidently add new things to your schedule.

Repetition is only negative if you continue applying a bad method hoping for a different outcome – Einstein’s definition of stupidity.

The next time you feel like you have become a slave to routine, realize that it is your routines that will make you an expert in your field and a leader for others to follow.

Linda Chu
CEO – Out of Chaos, Professional Organizing Solutions
www.outofchaos.ca

Many entrepreneurs make the mistake of attempting to reinvent the wheel. One essential business best practice is keeping an eye on the competition – actually, your biggest potential competitor – and learning from them. After all, the aim of many businesses is not just to be a player, but to be the leader.

A good example of the approach comes from the founders of Shirtpal, recently profiled in the Globe and Mail for their fast-growing success as a custom tailors. They followed this best practice right from the beginning, focusing on the industry leader, Maxwell:

Maxwell’s makes two cross-Canada trips a year. Owner Andy Maxwell creates makeshift storefronts in hotel conference roMaxwell’s makes two cross-Canada trips a year. Owner Andy Maxwell creates makeshift storefronts in hotel conference rooms where customers can choose from 5,000 fabric swatches, eight collar styles and five cuff styles, among other options. After measurements by Hong Kong tailors who accompany Mr. Maxwell, customers wait about 10 weeks for their new threads to arrive in the mail. oms where customers can choose from 5,000 fabric swatches, eight collar styles and five cuff styles, among other options. After measurements by Hong Kong tailors who accompany Mr. Maxwell, customers wait about 10 weeks for their new threads to arrive in the mail.

The Shirtpal people adopted the basic model along with a few refinements to create a competitive edge.

Soon, they were on their way to developing a business with real potential to dominate on their own terms.

Do your market research in an organized way, ensuring that you keep good records of changing trends in the industry as new leaders emerge. Schedule time to review the data and make sure you set aside time to conduct a real analysis.

Of course, as a business grows, the reason for checking out the competition is a bit different – it’s more about staying on top. But once you’ve reached the point where you’re trying to figure out how to remain on top, that’s a nice problem to have.

Linda Chu
CEO – Out of Chaos, Professional Organizing Solutions
www.outofchaos.ca

Cooking shows are as addictive to watch as they are tantalizing. What’s easily missed, among the chopping, dicing and slicing is the constant clean up and maintenance of the workspace. They’re always moving! By taking a few moments during the preparation of a dish to re-sharpen knives, or clear away clutter, the chef is focused and prepared to get into the action with less hassle.

This is also a best practice for owners and employees, whether you are doing at your office (or home office, for that matter). Stay organized and keep moving and you’ll get better results.

In Twyla Harp’s landmark book The Creative Habit: Learn it and Use it for Life, she discusses a writer who believed there was a mental correlation between cleaning his room, and arranging his brain. While possible, Harp was convinced it was not just the idea of organizing that helped him focus but rather the physical movement and action involved that helped direct his efforts.

Fitting in three to five minutes to focus on your breath and fill up with nourishing oxygen, helps feed muscles tensed under the strain of thinking, and allows your brain to take a minute to replenish its focus for a fresh return to the task at hand. When you take breaks, stand and stretch while you organize your space or deal with files. Or perhaps take a walk over the lunch break while you strategize a business initiative. The idea is to keep moving.

There are innumerable websites with effective office exercises to be perused and sampled until you find a set that works for you. In your off-time, take meditation classes, yoga instruction or even arts like Tai Chi, that are very portable and only require a little space and a bit of privacy.

One last thing: encourage your employees to keep moving at work. Joining a friend, or starting a little group at the office, can open up more than just your mind to working harder, it can help develop better relationships.

Linda Chu
CEO – Out of Chaos, Professional Organizing Solutions
www.outofchaos.ca

What do air traffic controllers, pilots, surgeons, real estate agents and many successful business owners all have in common? They all use checklists to ensure that they do the job right every single time.

As a means of ensuring quality control, reducing errors and improving productivity, there are few best practices that match the results of adopting the humble checklist.

I use checklists to keep track of tasks that need to be completed throughout the day. I use them in meetings to ensure that I cover everything and don’t have to follow up unnecessarily. I use them when I’m delivering consulting services. And I use them a lot when I’m preparing to deliver a presentation, since nothing gives you confidence like knowing you’re prepared.

Checklists aren’t just great for personal productivity. Put a checklist up on a big white board at the office and remind the team of objectives they need to accomplish as an organization. Or keep checklists by pieces of equipment that employees may only use once in a while and reduce wait times as they follow the simple list to get stuff done faster.

Now, for your first checklist, make a list of three things you’ve been avoiding doing in order of business priority (not order of difficulty). Commit yourself to following through and get them done today.

Linda Chu
CEO – Out of Chaos, Professional Organizing Solutions
www.outofchaos.ca

If you see your customers’ tastes changing, you have to adapt your product to the market – and do it quickly.

Small businesses with small budgets are often a lot better than billion-dollar big businesses at adapting to changing market tastes. Partly, that’s because large corporations sometimes find it easier to tell customers what they really want through expensive PR campaigns. This only lasts so long, though.

For an example of this is the Ford motor company. I was reading an article today entitled Ford targets Vancouver with smaller cars, describing how the world’s most famous motor company has enthusiastically started catering to today’s tastes for smaller, more cost-effective vehicles.

It sounds like a smart move, until you realize that their competitors were already doing this 10 years ago. In the meantime, Ford racked up tens of billions in debt and risked going out of business entirely during the recent recession.

Entrepreneurs must make sure they have a way of listening to their customers. Whether that’s through face-to-face contact, surveys or reliable statistics about your own sales as well as how the competition is doing, you must have “listening stations” in place. Listen, analyze and adapt to give your customers what they want.

Linda Chu
CEO – Out of Chaos, Professional Organizing Solutions
www.outofchaos.ca

When I ask new entrepreneurs about their target market, I’m no longer surprised when I hear their answer. Far too often, it’s “everyone! Our product/service is needed by everyone. That’s why this business is such a sure thing!”

I can understand why their enthusiasm gets the better of their business sense. For plenty of businesses, the product or service can seem (at first) like everyone would want it. Restaurants are a classic example of this – everyone needs to eat, so how can a restaurant go wrong?

Of course, restaurants have some of the highest failure rates of any new venture. Everyone does need to eat, but getting the right combination of tasty food, great service, location, price, décor and a hundred other considerations just right is not an easy task. Most importantly, restaurants seem to do well when they target people with specific tastes. When was the last time you heard someone say “let’s go to that Chinese-Italian-Irish pub restaurant down the street! I hear it’s got something for everyone!”

In my own business, I learned early on to target specific markets. Of course, everyone needs systems to organize their lives, boost productivity and get better work-life balance. But who’s going to hire me to teach them how to achieve these things?

After doing my research, I recognized that some of my biggest customers would be people who were moving or downsizing their homes, as well as offices that needed to reduce clutter and improve productivity of their employees. Also, successful professionals who were being held back in some ways by bad habits and procrastination could also use my services.

After catering to these target markets, I also adjusted my services to that target market to offer both organization consulting and speaking engagements for companies and organizations that perhaps wanted a one-day workshop or training session. This has led to success and many happy clients.

Whether you’re hunting in the forest or running a business, you have to know where to direct your limited ammunition. Understand your target market before you start your business and keep re-evaluating to ensure you’re not missing opportunities in other markets.

Linda Chu
CEO – Out of Chaos, Professional Organizing Solutions
www.outofchaos.ca