Why business owners must embrace co-creation to create real value in their business

Co-creation is the joining together of people to produce a mutually valued outcome.

In business, it is the cultivation of win-win solutions where efficiency, success, and staff fulfilment march hand in hand. Co-creation brings many benefits to businesses, such as;

  • Team members feel respected and honoured, and they know their contributions make a difference.
  • Job satisfaction and creativity is ignited, there is a positive flow of ideas, and problems get solved in surprisingly simple and practical ways.
  • Staff remain loyal and stay longer because they love what they do.

For the entrepreneur, co-creation can be a challenge, a real anathema. The building of a business demands resolve and determination to push through ideas in the face of disbelief and scepticism.

For business owners who have honed such skills, co-creation may not come naturally. They struggle to let go of being in charge, and risk blocking further evolution of the business. Maybe this is due to a subconscious belief that no one can do the job as well as them – or indeed, a dread that others may do it better.

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How coaching can help you to inspire your team and ensure employees fulfil their potential

I used to think I used a coaching style with the teams I led. Then I went on a coaching course to learn a little bit more. Imagine how disappointed I was when I found out that I hadn’t been coaching at all!

It turned out that all I had been doing was being vaguely encouraging while I told them what to do and how do it. And I was so busy because I always needed to know everything they were doing, so I would always know what to tell them to do.

I discovered that getting people to do things my way, no matter how nice I was while I was doing it, was nothing like coaching.
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Legacy, loyalty and upside-down leadership

How do you define leadership? There are thousands of books, resources, classes and experts, together forming what might be described as a leadership industry. So it’s not surprising that leadership definitions abound.

Most definitions of leadership are likely to combine a number of words or ideas, such as: vision; belief; action; motivation; inspiration; intuition; or charisma. But how many would use the words legacy or loyalty?

Thinking about leadership in these terms implies an upside-down interpretation of what it means to lead.
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How to attract and retain the best employees

There are a few certainties in life; death, taxes and skills shortages. However you’ll notice that some companies suffer more than others when it comes to hiring and keeping great employees.

So, how can you be one of the smug employers that attracts and retains great people when everyone else is struggling? And how can you keep the down costs of recruiting staff?
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Rewarding staff with bonus shares – Tax implications

Bonus payments may have been a bit thin on the ground this year. Hard pressed businesses, struggling to meet existing commitments, may balk at the prospect of parting with cash. However, the benefits of having a loyal and satisfied staff may prompt them to consider alternatives to the cash bonus.
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