Jeff Nock Iowa
Jeff Nock

Jeff Nock Iowa on Which Markets Have the Most Promise As Economies Begin Opening Up Again

The long road to recovery after COVID-19 has started in many different sectors. Lockdowns are easing or are in the process of being adjusted, businesses are creating re-opening plans while also planning for potential second waves, and the battle for various stimulus packages continues around the world.

At this time, Jeff Nock recommends looking ahead and examining key markets that are going to perform the best as coronavirus restrictions begin to ease. What segments will bounce back the fastest? What’s due for the most recovery? Where might investments be the most profitable? Jeff Nock’s market analysis has yielded interesting results, examined in more detail below.

Digital Payment Platforms

Digital payment platforms have already seen a lot of growth during lockdown months as businesses and contractors searched for new ways to make transactions and enable payments. So it’s no surprise that platforms like Paypal have done very well in 2020. However, the digital payment industry isn’t something that companies dabble in and then quickly exit: Once these payment structures are set up as a potential source of revenue for businesses, they don’t go away.

That means good news for all kinds of digital payment vendors as economies begin to reopen and new customers find it easier than ever to pay online and remotely. Jeff Nock Iowa points out that this is an excellent example of an up and coming trend that has been rapidly sped up by unforeseen circumstances.

Mobile Device Creators

Consumers have largely made mobile device purchases a cyclical event. They tend to replace devices according to their own timetables – every year or two for many, every several years for others. In 2020, mobile device purchases are largely being delayed, due in part to lack of availability (manufacturing issues and the inability to personally test the product in-store) as well as lack of income.

Jeff Nock of Iowa believes this is likely to create pent-up demand for new mobile devices that will spill over into next year, leading to a sudden uptick in consumers and companies purchasing updated mobile devices. Upgrading to Wi-Fi 6 compatibility will only encourage this trend. With this expected increase in demand, it will likely be a good couple of years for Apple and Google’s hardware divisions!

Jeff Nock Iowa on Why Cleaning Products Will Continue to Grow

Cleaning products may seem an odd fit for future growth as most revenue gains have already occurred with massive purchases of bleach and cleaning products. However, Jeff Nock reminds us of two important points. First, cleaning product companies now have extra revenue to invest in new expansions over the coming years, leading to many new opportunities. Second, Jeff Nock Iowa notes concerns over COVID-19 will persist for at least a year or two into the future, leading to strong cleaner sales even as the danger from the virus eventually fades.

Beverage Companies (Especially Coffee Brands)

Beverage companies are in an interesting place right now, and Jeff Nock Iowa believes that it’s because of remote work situations. Many more people are working from home now and will continue to do so for the foreseeable future. Within this remote situation, employees are discovering a need to get their own beverages that were once available in the break room. Jeff Nock Iowa thinks that’s great news for Keurig, Snapple, Dr. Pepper, and a variety of other beverage companies.

Fast Food

Growth within the fast-food industry is straightforward. As Jeff Nock Iowa explains, consumers of fast food tend to rely on it as a frequent, convenient habit. That habit was constrained during the lockdown as fast food companies were limited in the services they could offer. As fast-food chains open up again, expect their dedicated regulars to come surging back in order to make up for the lost time.

For more information on potential growth and the best growth strategies, be sure to visit Jeff Nock’s firm, Prescient Consulting.

Jeff Nock Iowa

Jeff Nock Iowa: Improving Creativity on Virtual Teams

 Fostering the Creative Spirit Is Possible, but Challenging in New Environment, says Jeff Nock Iowa

Creativity thinking is a critical factor in the ability of a company to succeed over the long term. An Adobe study shows that companies that foster creativity that results in new and evolving products and services experience faster revenue growth and enjoy greater market share compared with their peers and become recognized as the best companies to work for. At first glance, it might appear that the new environment in which employees work remotely is likely to thwart creativity, especially the innovation that comes from brainstorming within a diverse team. Good leaders, however, can find ways to foster creativity when employees are physically distant from each other, says Jeff Nock Iowa, CEO and president of Prescient Consulting LLC.

Inclusivity is Key, Says Jeff Nock Iowa

Creative solutions come through openness to diverse ideas. Leadership, then, encourages creativity and innovation by creating communication forums that encourage everyone to participate and hearing ideas from all team members, each of whom brings a unique blend of culture, background, and experience. Virtual meetings often do not provide the social cues that help team members bond and some team members may be less likely to present ideas if they can’t easily see the reaction of other team members. To combat this tendency, leaders will focus on making their own communication as open as possible. They also will be careful to solicit ideas from all members and reach out individually to those who are hesitant to share in group Zoom environment, says Jeff Nock Iowa.

Create Community, Says Jeff Nock Iowa

Creating a sense of virtual community is vital in general these days as well in encouraging creativity. This includes creating online social opportunities for work teams rather than just work meetings. What can get lost when working remotely is that sense of connection with co-workers that is created in physical work environments via brief discussions before and after meetings and while getting a  cup of coffee in the break room.

The ways leaders share information about the project or challenge being tackled, as well as more subtle types of information, such as social information and contextual information must be done differently online. In addition to sending emails and having project team meetings online, one on one meetings with individual contributors and small group meetings are encouraged.

Sharing information about each person working on a project team helps. Social information includes the personality traits, background, and goals of each team member. Contextual information includes items such as available equipment, holidays, and customs. Social and contextual clues are essential in understanding what a person is trying to say or how that person behaves.

When employees physically work in the same space, they can easily pick up on these social and contextual clues. Yet a virtual team, especially one composed of members from various geographies, may not be able to acquire these clues as easily. To ensure that comments are interpreted properly, virtual team members will take the time to check in with each other socially and to share local context information with each other, says Jeff Nock Iowa. Meeting leaders should also be careful to facilitate this sharing and to create a norm that encourages members to ask clarifying questions. In-person meetings or team-building activities should be held occasionally to allow members to bond. Without adequate communication of social and contextual information, team members may make negative assumptions about each other that can lead to team dysfunction rather than creative brainstorming.

Make Full Use of Advantages of Virtual Platform, Says Jeff Nock Iowa

Although virtual platforms offer challenges to team creativity, they also offer some inherent advantages. Virtual platforms have the benefit of allowing for a more geographically and functionally diverse team than would be possible to assemble in person. Employees also may be more committed to the company if they don’t have to relocate every time a new team is formed. Both these factors result in greater creativity, says Jeff Nock Iowa.

Jeff Nock Iowa is an experienced executive leader who has a demonstrated history of growing startups, non-profits and established companies. He has a Bachelor’s degree from the University of Colorado at Boulder and a Master’s in Management from Regis University. At Prescient, a company that helps funded early-stage and mid-cap companies, Jeff Nock Iowa has helped more than 250 companies grow.

Jeff Nock Iowa

Jeff Nock Iowa On Keeping Employees Engaged When They’re Working from Home

Rising Number of Remote Workers Presents Challenges and Opportunities, Says Jeff Nock of Iowa

The number of employees working from home was on the rise, even before the COVID-19 pandemic. The number of remote workers had increased 44 percent from 2015 to 2020 and totaled 4.7 million people in February 2020, according to FlexJobs. This trend can lead to employees that are more engaged if companies lead remote workers effectively, says Jeff Nock Iowa.

Clear Policies

Companies can help assure the success of remote workers by establishing clear expectations around working from home, says Jeff Nock. For example, what hours an employee is expected to work to how much flexibility is allowed or encouraged, clear expectations allow employees to establish routines that better ensure their good morale and higher productivity. Expectations can also include security standards, how often an employee should provide updates to management and other team members, and when an employee will be available for team meetings. Companies want to ensure that they don’t have to go looking for an employee to provide a key update but that they also empower employees to have some flexibility with their work time.

Autonomy and Flexibility

Allowing employees to work remotely even when the pandemic is over is a good way to engage some employees who have complex schedules and are motivated by autonomy and flexibility. The key, however, is that managers lead by setting goals and allow these employees to meet the goals in their own ways, rather than by micromanaging, says Jeff Nock Iowa. Not all employees are as motivated by working at home as others, however. A good manager will know which employees will need more structure and support, especially if they will continue to work remotely after the pandemic, says Jeff Nock Iowa.

With everything it does, company leadership will want to build a culture of trust and transparency to keep employees engaged and productive.

Communication

Communication is a key factor in employee engagement. Team meetings conducted using an audio/visual platform, such as Zoom and Slack, can help by allowing employees to see and interact with each other as well as managers. Providing some time before and after the meeting for informal chitchat is also a good way to build camaraderie and teamwork. Management also can use technology effectively to communicate goals and evaluation metrics, showing employees how they are performing to those metrics in real-time, says Jeff Nock Iowa.

Jeff Nock Iowa is the founder, president, and CEO of Prescient Consulting. Jeff Nock and team help funded early-stage and mid-cap companies achieve their vision and growth goals. Prescient does this by offering services that include C-Level mentoring, application development, strategic planning, business planning, business model ideation/evolution, market analysis, competitive niche analysis, business development, operational efficiencies, and brand evolution. Jeff Nock Iowa and his team at Prescient have helped organizations in a variety of industries including software platforms, ed-tech, manufacturing, finance, health care, medical device, retail, hospitality, e-commerce, and nonprofit.

Jeff Nock Iowa has more than 30 years of leadership experience and excels at growing companies and nonprofits. He has served as CEO of Goodwill of the Heartland. He served as an entrepreneur in residence at the University of Iowa, where he oversaw the exponential growth of Student Ventures as part of the University of Iowa’s John Pappajohn Entrepreneurial Center. He also led a struggling traditional forms printer through a turnaround that resulted in the company being sold for twice its worth. He has a Master of Science in Management from Regis University and a Bachelor of Science in Political Science from the University of Colorado at Boulder.

Jeff Nock Iowa is the father of four children. A Christian, he also gives to charities within his community.

Jeff Nock Iowa

Jeff Nock Iowa – Why Remote Workers Need Real-Time Employee Feedback

For remote workers, real-time feedback can be used as a coaching tool, which is not only a motivator for productivity, but is also essential to promoting a positive team attitude. As CEO & Founder of Prescient Consulting, LLCJeff Nock of Iowa has spent years consulting with business owners and management teams on ways to create a business model that works for their market sector and employee culture. As workers are facing a new reality that demands working from home, management teams must find new ways to keep these employees motivated and productive.

Traditionally, annual employee reviews were set aside to offer employees the critical feedback employees needed to continue moving upwards within an organization. But, in today’s face-paced and competitive business environments, Jeff Nock of Iowa agrees with corporations that are eliminating annual performance reviews in favor of real-time feedback processes.

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Jeff Nock’s Tools to Enhance Remote Worker Communications

A company’s leadership style can be a predictor of the company’s financial success. For many management teams, keeping track of off-site workers may mean pivoting to supervisory practices that are efficient and lean heavily on technology. It’s no secret that some employees are highly self-motivated, while others see working from home as a challenge. For these employees, it is especially incumbent on leadership to explore telecommunications tools such as Zoom and Slack, to keep the line of communication open.

Jeff Nock of Iowa believes that special attention should be given to new team members and those that are working from home for the first time. Make sure they understand the metrics that put in place to monitor or track employee performance and corporate success. When management offers regular employee feedback, it should benefit the employee by strengthening their weak spots and promote their strong points.

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Employee Coaching Tips Jeff Nock of Iowa

Jeff Nock Iowa realizes the negative impact of using technology as an easy way to criticize or browbeat employees. Instead, use these tools to coach remote staff and offer solutions to obstacles they may be encountering. Virtual coaching allows you to have face-to-face conversations that can keep employees engaged and motivated. To successfully coach remote teams, Jeff Nock suggests businesses ramp up their video conferencing technology and screen sharing capabilities. This way, a supervisor can have visible access to corporate documentation and/or customer information being discussed with the remote worker.

In coaching sessions, Jeff Nock Iowa suggests that instead of offering performance feedback, management can use remote communication technology to provide clear direction, goals, and expectations. It is also helpful to discuss with at-home workers how to handle the distractions that will be inevitable. Provide clear corporate procedures on how remote workers are expected to perform tasks from home – and that may include avoiding Netflix and other personal activities during work hours.

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Real-Time Feedback to Humanize the Remote Work Experience

And finally, remote workers struggle with the disconnect from their colleagues. Video conferencing with team members offers everyone a chance to connect visually and to encourage others through any difficulties. Jeff Nock Iowa has helped many early-stage companies through a successful business launch, and for many companies, moving to a remote worker business model is similar to launch a new business. The benefit of real-time feedback is that employees feel as if they are being heard and that corporate is responsive.

As time goes on, remote workers will feel more comfortable with virtual interactions with supervisory teams because you’ve laid the foundation for a remote work strategy that is inclusive, supportive, and trusting. Jeff Nock Iowa encourages real-time feedback that empowers employees when it is done correctly. The process is meant to create a two-way discussion, unlike the annual employee review that is more of an autocratic, top-down process.

Jeff Nock

Jeff Nock explains Social Entrepreneurialism amid the Coronavirus

Jeff Nock, Iowa business consultant and CEO and Founder of Prescient Consulting, LLC, discusses the importance of social entrepreneurship (i.e. microfinance/lending, corporate volunteerism, charitable involvement, etc.) in these trying pandemic times. This discussion is more important than ever considering our challenging times.

Jeff Nock, Iowa based consultant has enjoyed successfully helping businesses of all sizes for over 30 years. Whether a leader in an established business or a new startup seeking to gain a foothold in the marketplace, Jeff Nock of Iowa City, Iowa provides custom-tailored solutions designed to have a meaningful impact on your business.

Traditionally, social entrepreneurship, according to the Jeff Nock, Iowa based business consultant, entails efforts by businesses to impact social, cultural, and environmental issues in their community, state, country, or globally. These efforts can include volunteering of employee time for efforts such as helping build a house for Habitat for Humanity, donation of funds through employee payroll to organizations like United Way, or creating an ongoing business model like Toms Shoes where for each pair of shoes they sell they donate a pair of shoes to people in need in Africa.

Today’s pandemic times create a whole new level of need and businesses have the opportunity to not only help people have better lives but can actually help save peoples’ lives. Our frontline healthcare providers are heroes trying to help thousands of people throughout the world. In many cases, they are doing so with the personal protective equipment (PPE) they need. Doctors and nurses are supposed to change masks after every procedure or room visit. Yet some in emergency rooms are having to go the entire day with the same face mask.

Companies have multiple ways they can chip in. Direct financial contributions can help while some manufacturing companies have the capability to repurpose their manufacturing processes to make PPE such as face masks, face shields, and hand sanitizer.

Jeff Nock Iowa CEO explains why social responsibility is more important than ever

Our world and our nation are facing unprecedented challenges with the Coronavirus/COVID-19. Jeff Nock, Iowa based consultant suggests that it is imperative for businesses to join with healthcare providers and government entities to help stop this virus. Now is not the time to hoard products or profits. Look at the virus as a business challenge and strategically contribute people, financials, products, or any other resources possible to help people in need.

Social entrepreneurship has always sought to help address challenges throughout our world. Social entrepreneurship today takes on a whole new meaning. After all, it is the right thing to do and the faster this virus can be eradicated, the faster we can all go back to our business as normal.

Social entrepreneurship is not a new construct. Businesses have always struck a balance between the activities needed to make money and the efforts they engage in to protect the communities in which they do business. This, Jeff Nock, Iowa based business and executive consultant contends, is the way business now has to be done.

Jeff Nock

Jeff Nock Provides Cash Flow Management Advice During a Company’s Startup Years

Jeff Nock, a leadership and business development consultant, offers five tips.

 Jeff Nock is an internationally recognized executive and consultant with expertise in developing startups, small and mid-cap companies, and nonprofit organizations. His expertise has helped many companies create cash flow management plans and initiatives. As someone who has accumulated experience developing and implementing cash flow management plans for various types of companies, Jeff Nock offers an essential set of practical tips for companies that are just starting out.

Jeff Nock states that “When new businesses are launching, it’s an exciting time, and everyone involved is geared to succeed and make their mark on the world, but during these ramp-up months and first few years, it’s important not only to focus on revenue growth but also cash flow management. Not always an easy task, it’s essential to have a plan and to stick to that plan.” Key components of a cash flow management plan and a revenue growth plan involve calculating the burn rate, runway, cash flow positive, and profitability point for the business, tracking and evaluating cash inflows and outflows, bringing the financial experts on board, hiring the right staff with the right skills, and leveraging technology.

Jeff Nock‘s First Tip for Cash Flow Management: Calculate the Burn Rate, Runway, Cash Flow Positive, and Profitability Points

As leaders and founders of startups can be focused on the overall vision of the company and initial revenue generation, it is important to not forget about key financial projections and then track actual versus projection. In addition to having a close eye on revenue, it is important to monitor the monthly burn rate. As startups spend or “burn” more money than they bring in, the monthly burn rate is revenue minus expense. So, if revenue is $1,000 for a month and expenses are $10,000 then the monthly burn rate is $9,000.

A startups runway is the amount of time they have under current projections before they run out of money. If a company has $1,000,000 in cash and a monthly burn rate of $100,000 then its runway is 10 months.

Many startups confuse cash flow positive with profitability. Cash flow positive is when a company is no longer burning cash on a monthly basis, but rather breaking even or generating a monthly profit. Companies don’t become profitable until they have generated enough positive cash flow to pay off any initial debt (from owners or investors).

Calculating these important financial projections is important as companies look at long term investment and are financial projections that potential investors use to determine whether a business is viable and worthy of investment. Once these projections are in place, startup business owners should track the progress towards the projections and make strategic business decisions to grow revenue and manage expenses accordingly. If revenue is slightly ahead of projections and expenses are on forecast then the business owner can decide to either save that excess cash or reinvest to spur faster revenue growth.

For investors (whether the owner, friends and family, angel or VC), these financials, combined with the strength of the business model and leadership team enable data from which to evaluate business viability. If a startup has a $100,000 in startup capital, a burn rate of $10,000 a month, and has a plan to triple revenue with an influx of an additional $100,000 in funding, the investor can make an educated decision on whether to invest. If the startup has $100,000 and a monthly burn rate of $50,000 it may be too late for that company without a drastic reduction in expenses or a sizable new source of revenue that is imminent.

Jeff Nock‘s Second Tip: Review and Evaluate Cash Flows

Reviewing and evaluating cash flows starts with tracking expenses and revenues. While this seems basic, there are sophisticated cloud platforms and software applications that can help automate whether revenue and cost management techniques are being leveraged. While most startups are focused on living day to day and month to month, it is still important for mentors and investors/potential investors to see logically created financial projections. Software like PlanGuru can provide analytical budgeting tools, which can help startups make more accurate financial projections for up to ten years. Many of these applications also offer training packages to help business owners learn the capabilities of the applications and available forecasting tools.

Having forecasting tools can help startups that do not have an established history get a better handle on ways to optimize expenses and revenues. A lack of an established history of cost/revenue trends is one of the reasons why it is critical to frequently review cost and revenue data once it starts coming in. Adjustments to production, price points, and fixed and/or variable costs may need to be made quickly. As a best practice, Jeff Nock recommends startups begin by reviewing costs and revenues weekly and then back off to a monthly basis.

Jeff Nock‘s Third Tip: Call in the Experts

Startup founders have quite a bit on their plates and different hats to wear when getting a new business off the ground. It can be overwhelming to have to handle strategic management, human resources, and hiring/retention, technical infrastructures, and financial management. Even if the founders and leaders of a new business have training or experience in financial management, it is best to utilize mentors and when possible bring external consultants and experts on board.

Bringing in external financial experience is crucial as a startup business owner is too close to their business to have an objective perspective. As Nock advises, “many early-stage startups outsource the finance role to certified public accountants who can come in a few hours a week and handle accounting and cash flow management.” Outsourcing the financials and cash flow management provides startup leaders with more time to focus on growing the business.

Selection criteria for a certified public accountant or financial consultant should consist of criteria like experience, recommendations, availability, services, and goal alignment as well as affordability. Examine what type of experience an accountant or consultant has with other successful startups and determine whether that person’s experience is similar to the startup’s industry, product or service line, and organizational form or type. Ask whether the person’s work ethic and philosophy match the organization’s culture. Review testimonials from current and former clients and ask for references.

Jeff Nock‘s Fourth Tip: Hire Financial Help at the Right Time

While most early-stage startups can’t afford to hire a full-time accountant right away and use external accountants for a few hours a week, eventually, as the company grows, the amount of accounting will also grow. As outside accountants will usually charge more per hour than in house accounts cost (not including benefit), it is important to realize when the outside consulting work has reached the point where it can be replaced by hiring an accountant. This can be done part-time at first and eventually ramped up to full-time.

When considering this initial hire, make sure to invest in not only the individual’s expertise but their fit with the company’s culture. Often, whether it is a financial person or any other role, people, in general, do not understand the need for adaptability when working with startups. This isn’t to say that anything should be done outside of accounting rules or laws by any means. It just means that it is quite different working as an accountant for a Fortune 500 company than it is working for a startup and some people just don’t have the ability or desire to work in such a fluid environment.

Since startup cultures are drastically different from established companies, those with startup experience will be used to working in an environment with a lot of uncertainty and little direction or supervision. A startup often requires working at a fast pace, the ability to grasp new concepts and responsibilities quickly, and the ability to see what needs to be done and the willingness to do it, even if it is not part of the person’s job description.

Jeff Nock‘s Fifth Tip: Leverage Technology

Leveraging technology involves looking at what financial technical resources will help the startup grow and what resources will help the startup optimize operations, both internal and external. Thinking beyond physical hardware and software applications, startup leaders should consider how technology will be used and leveraged. Cybersecurity risks are prevalent today and financial data, just as customer data, must be kept secure, especially when investors are involved. Establishing procedures for secure financial data storage to customer relationship management, these security procedures and strategies should guide the purchase of financial technology-related resources.

While many startups use Excel spreadsheets and other rudimentary tools, it is important to quickly migrate to a secure cloud-based platform like Quickbooks. By using such a third-party platform that is focused on maintaining data security and constantly upgrading features, business owners can securely input and access accounting data 24×7 wherever they can access the Internet.

With more than 30.7 million small businesses and startups in the United States as of 2019, cash flow and revenue management is an important key to long-term sustainability. Approximately only 20 percent of small businesses are still in existence after five years. Ensuring the business idea and strategy is viable and sustainable in the long-term can be more easily accomplished by implementing Nock’s tips.

Jeffrey Nock‘s experience includes being the CEO of multiple companies, part of multiple successful startups and as CEO and Founder of Prescient Consulting, LLC. His company has helped over 200 companies that are in the early stage of development, as well as mid-cap companies. As an experienced consultant, Nock strives to assist organizations with achieving visions and growth objectives through services such as mentoring for the C-Suite, strategic and financial planning, business planning, business model ideation and evolution, competitive niche analysis, business development, operational efficiencies, and brand evolution.

Nock‘s repertoire also includes growing startups, growing nonprofit organizations, and helping established companies achieve new growth targets. His skills include leadership development, strategic planning, business development, financial oversight, and presentation development. Outside the consulting world, he enjoys spending time with his four children, supporting his children’s events, participating in physical fitness activities, reading, watching sports, and finding ways to give back to his community.

Jeff Nock Iowa

Jeff Nock Iowa On Now Is The Right Time To Be A Social Entrepreneur

Rethink Work As a Way to Help Others and Feed Your Passion, Says Jeff Nock Iowa

Social entrepreneurship is the act of founding and operating a successful business that makes a transformative positive change in society. It has been gaining in popularity since social entrepreneur Muhammad Yunus received the Nobel Peace Prize in 2006 for his work with the Grameen Bank, a business he founded to help eradicate poverty through microlending. “The COVID-19 pandemic is causing many people to rethink their lives and careers to reflect their values and passions. Customers and potential business owners alike want to live in ways that benefit society,” says Jeff Nock Iowa, founder and CEO of Prescient Consulting, LLC. “This makes now a great time to become a social entrepreneur,” he said.

“Social entrepreneurs have big hearts and deep passions, but, they also must have entrepreneurial skills,” says Jeff Nock Iowa. “Entrepreneurs see opportunity and seize it, think creatively, and are determined to do whatever is necessary for their ideas to become reality,” he said. A social entrepreneur has an idea borne out of his or her values and passion, such as feeding the hungry, combating illiteracy, improving infant mortality rates, or combating climate change. To work as a sustainable entity, the idea must be worthwhile, meet company goals, and create sufficient cash flow each period. “Just as with any enterprise, the entrepreneur needs an exceptional strategic plan,” says Jeff Nock Iowa.

The strategic plan should include a mission statement the company’s vision, a study of the landscape including potential competitors and collaborators, a look at the business’s differentiation from other available solutions, a business model, and a marketing plan. A mission statement clearly describes the purpose of the organization in terms of who will be helped and how that will be executed. Research into the current landscape will analyze companies’ themselves instead of profits that already exist while placing the focus on understanding gaps in what is being offered. After the research, an entrepreneur will consider how he or she will offer a different product or service, or offer them in a different and better way. “This involves awareness of the entrepreneur’s own gifts and interests,” says Jeff Nock Iowa.

The business model examines exactly how the organization will make money. “For example, will those who will be the beneficiaries also be the customers, or will they be two different groups of people?” questions Jeff Nock Iowa. Bombas gives one pair of socks to homeless shelters for every pair purchased. This is an example of customers paying for something on behalf of beneficiaries. Microlending businesses, on the other hand, lend directly to the beneficiary who pays interest. The business model also answers questions of how the business will scale up if needed. A good marketing plan is also required. “[It] should clearly define who the target customers are and how to find and sell to them,” says Jeff Nock Iowa.

“The strategic plan also needs to include the metrics by which the entrepreneur will judge success, such as, the social impact (number of people helped/problems solved) and how money is generated and used to accomplish these goals,” says Jeff Nock Iowa.

Finally, the entrepreneur must determine how to obtain the capital needed to start and grow the organization. Many social entrepreneurs start off organically and grow as new funding sources allow. Some use crowdfunding. Another option is high net worth individuals, companies, and organizations that share the same passion for the cause. “Entrepreneurs also need to cultivate a team of partners including lawyers, accountants, consultants, and other business-savvy mentors,” says Jeff Nock Iowa.

About Jeff Nock

Jeff Nock Iowa is an experienced executive and consultant, with a demonstrated history of growing startups, non-profits, and established companies. Jeff Nock Iowa is skilled in business planning, strategic planning, management development, application development, and comprehensive marketing, sales, and presentation development.

 

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Jeff Nock Provides Keys to Success in Leadership Team Development

Consulting firm CEO and founder Jeff Nock gives his best tips for effective leadership team development

During his time as CEO of a leading eastern Iowa business consulting firm, Jeff Nock of Iowa has developed in-depth knowledge related to application development, marketing, sales, new product development, strategic planning and other C-suite level experience specific to business leadership. Throughout his career, Jeff has worked with companies of all sizes and backgrounds, from startups to established organizations with long histories of success. His experiences have taught him that one of the most important factors determining success for any company is the development of an effective leadership team.

While many business experts emphasize the development of leadership skills within each individual worker, Jeff Nock puts an equal or greater amount of focus on the development of the leadership team. A business’ leadership team can make or break its future. As the business prepares to grow, for example, the leadership team will be responsible for making important decisions that will define the company culture and shape the company’s future. It also falls to the leadership team to ensure that all plans made for the company are carried out as intended. As challenges arise, the leadership team will be responsible for developing solutions and mitigating losses. Furthermore, the leadership team holds great power when it comes to boosting employee morale, loyalty and trust. In fact, according to Jeff Nock, “A standout leadership team development plan will enable your company to scale for growth.” For this reason, Jeff emphasizes leadership team development as one of the cornerstones of any successful business, regardless of the business’ size industry or location.

 

The exact approach Jeff Nock of Iowa recommends for leadership development will vary based on several factors, including the company’s culture and stage of growth. While some companies in the earliest stages of growth will require a leadership team development approach designed to produce quick results, companies that are already established can afford to spend more time honing and enriching the quality of their leadership teams. For this reason, it is important for companies to consider their needs and priorities when planning a leadership team development strategy.

Regardless of the exact approach to leadership team development, certain goals will be the same for all companies. Jeff Nock Iowa suggests that one of the most important goals for any leadership team development strategy should be to foster solid relationships among team members. Although each member of the leadership team will have diverse skill sets, backgrounds and experiences, leadership teams must be able to come together and work cohesively toward common objectives. When members of this team know and understand one another well, they will be better equipped for collaboration, whether they are setting new goals or dealing with an unexpected setback. To improve relationships among leadership team members, Jeff Nock of Iowa recommends team building exercises. Team building exercises can be used to improve communication, build trust and enhance efficiency within the leadership team. These exercises should not only be used in the initial stages of leadership team development, but they should also be scheduled at regular intervals as the company continues to grow and change.

Jeffrey Nock of Iowa also recommends designing an effective team communication protocol. This protocol should determine how and when information is shared among members of the leadership team to ensure that each person has access to the knowledge they need to carry out their responsibilities. Companies should make this protocol as clear and detailed as possible so each member of the leadership team knows what information should be shared, how it must be distributed and how they should respond when they receive communications from other members of the team.

In addition to relationship building and communication planning, Jeff Nock of Iowa strongly encourages companies engaged in leadership team development to establish values and goals for their leadership teams. These values and goals should be clear, concise and consistent with the company’s overall vision. They should also be understood and accepted by all members of the leadership team and used as a guide for every action carried out by the team. When the leadership team develops a new marketing campaign or explores a new product opportunity, for example, Jeff Nock Iowa recommends analyzing the intended action to ensure that it is in line with these established values and goals.

Once a leadership team is working well together and understands how the company needs to move forward, it is time to get the rest of the company’s workers on board. Leadership team development strategies should always include elements related to the interactions the team will have with the rest of the company’s employees. In order to carry out any of the company’s goals effectively, employees must trust the individuals in leadership positions. They must also be kept informed and motivated so they can contribute to the company’s overall objectives. Leadership team development efforts should invest in solid communication strategies that reach all parts of the company, from the upper management to the employees with front line responsibilities.

The leadership team development process does not end when a company has a strong team in place. Even after the team is functioning well, continuing to strengthen and enhance the effectiveness of this team should continue indefinitely. Continual leadership team development ensures that the team is able to respond properly to obstacles, changes within the company and industry, and the addition of new leadership. One of the best ways to ensure that the team is always improving is to engage in ongoing team progress evaluations. During each evaluation, the leadership team should analyze its progress toward key goals and objectives carefully. The team should also consider how they are communicating with one another and whether there are any ways to improve communication.

Often, the leadership team development process is focused on the immediate future and the company’s most pressing needs, but it is also valuable to think long-term. Jeff Nock Iowa is quick to remind businesses that, as the company grows and evolves, the leadership team will need to evolve as well. This is only possible when the leadership team development process takes this issue into account. Leadership team development should not focus only on existing leaders, but it should also consider the addition of new leaders in the future. The leadership team development strategy should include a clear plan for onboarding new leaders, helping them to understand the company’s values and goals, building relationships between new leaders and existing leaders, and building trust in new leaders among employees throughout the company.

Jeff Nock is the CEO and Founder of Prescient Consulting, LLC, in Iowa City, Iowa. During his time in this position, Jeff has worked with established companies, and startups. He has a background in marketing, sales, software development, new product development, and presentation development. To learn more about his company’s services, please visit https://prescient.us/.

 

Jeff Nock - Growth of Social Entrepreneurship

Jeff Nock Iowa Discusses the Value of Social Entrepreneurship as Part of a Business’s ESG Design

Jeff Nock - Growth of Social Entrepreneurship
Jeff Nock – Growth of Social Entrepreneurship

Jeff Nock discusses Social Entrepreneurialism & Coronavirus

 

IOWA CITY, IA / iCrowdNewswire / April 2, 2020 / Jeff Nock, Iowa business consultant and CEO and Founder of Prescient Consulting, LLC, discusses the importance of social entrepreneurship (i.e. microfinance/lending, corporate volunteerism, charitable involvement, etc.) in these trying pandemic times. This discussion is more important than ever considering our challenging times. 

Jeff Nock, Iowa based consultant has enjoyed successfully helping businesses of all sizes for over 30 years. Whether a leader in an established business or a new startup seeking to gain a foothold in the marketplace, Jeff Nock of Iowa City, Iowa provides custom-tailored solutions designed to have a meaningful impact on your business.

Traditionally, social entrepreneurship, according to the Jeff Nock, Iowa based business consultant, entails efforts by businesses to impact social, cultural and environmental issues in their community, state, country or globally. These efforts can include volunteering of employee time for efforts such as helping build a house for Habitat for Humanity, donation of funds through employee payroll to organizations like United Way, or creating an ongoing business model like Toms Shoes where for each pair of shoes they sell they donate a pair of shoes to people in need in Africa

Today’s pandemic times create a whole new level of need and businesses have the opportunity to not only help people have better lives but can actually help save peoples’ lives. Our frontline healthcare providers are heroes trying to help thousands of people throughout the world. In many cases they are doing so with the personal protective equipment (PPE) they need. Doctors and nurses are supposed to change masks after every procedure or room visit. Yet some in emergency rooms are having to go the entire day with the same face mask. 

 

Companies have multiple ways they can chip in. Direct financial contributions can help while some manufacturing companies have the capability to repurpose their manufacturing processes to make PPE such as face masks, face shields and hand sanitizer. 

 

Jeff Nock Iowa CEO explains why social responsibility is more important than ever

 

Our world and our nation are facing unprecedented challenges with the Coronavirus/COVID-19. Jeff Nock, Iowa based consultant suggests that it is imperative for businesses to join with healthcare providers and government entities to help stop this virus. Now is not the time to hoard product or profits. Look at the virus as a business challenge and strategically contribute people, financials, products, or any other resources possible to help people in need. 

 

Social entrepreneurship has always sought to help address challenges throughout our world. Social entrepreneurship today takes on a whole new meaning. After all, it is the right thing to do and the faster this virus can be eradicated, the faster we can all go back to our business as normal. 

 

Social entrepreneurship is not a new construct. Businesses have always struck a balance between the activities needed to make money and the efforts they engage in to protect the communities in which they do business. This, Jeff Nock, Iowa based business and executive consultant contends, is the way business now has to be done.  

Jeff Nock

Jeff Nock highlights importance of real-time feedback vs traditional annual reviews

Business expert Jeff Nock demonstrates the importance of real-time, ongoing feedback versus once-a-year performance reviews.

The employee performance review process is undergoing a massive, important evolution. Companies like Microsoft, Netflix, Adobe, and GE are eliminating annual performance reviews in favor of real-time feedback processes. This, Jeff Nock believes is because real-time feedback is a much better way to lead and coach people who desire such empathetic guidance rather than autocratic, impersonal annual reviews. Real-time feedback is also a better fit for today’s real-time world and younger social media savvy workers. An expert in business located in Iowa City, Iowa, Nock explains more about the process.

“The annual review process comes with a lot of baggage,” suggests Jeff Nock, Iowa City-based business consultant and owner and founder of Prescient Consulting, LLC, “which causes high levels of employee frustration, pitting employees against each other and causes employees to tune out. People want to be considered as individuals and be given a chance to achieve their potential.” Annual reviews also miss the mark because they by nature include situations that occurred 6 to 12 months ago. Issues, good or bad, should be addressed real-time to encourage or model desired behavior rather than a year later when the individual may not even remember the issue.

What companies like Microsoft are learning is that real-time feedback makes employees feel valued and appreciated for their efforts now, not 12 months from now. This also, Nock claims, improves the quality of feedback because the situations are fresh in the minds of all people involved. “Real-time feedback related to performance issues enables the employee,” adds the expert, “to adjust right away and improve their productivity and their morale.”

Jeff Nock believes real-time feedback empowers employees as done correctly, the process creates a two-way discussion rather than an autocratic, top down annual review. “Good, real-time feedback turns the employee review process into an ongoing coaching, mentor-mentee scenario. Through one on one weekly meetings and other ad hoc communications, the employee gets better day to day leadership and the manager learns to become a better leader,” adds Nock, a graduate of Regis University in Denver, Colorado, speaking from his office in Iowa City, Iowa.

Leadership today must adjust to the way people learn today. People gain information in real-time through their phones, computers and laptops, according to Prescient Consulting, LLC founder and CEO Jeff Nock. “To use annual reviews in today’s work environment is akin to using letters and the mail to share important daily news”, adds the business consultant.

“Good leaders are transparent and good communicators, in real-time,” he adds, wrapping up, “and good employees appreciate this transparent, empathetic leadership and engage and work harder for companies with such leadership.”