management
Published April 30th, 2008
One of the key points in any new business is having a business plan to get your company started. This allows you to see where your finances will be used, what markets are open to your product and service, how you’ll attract customers and much more. However, once your business is established, you shouldn’t just forget about your original business plan - indeed, you should continue to refer to it and change as necessary.
Since the business world evolves continuously, it’s more important than ever to be ready to face any new challenges that you might encounter. This is where... Read more
Tags: advice, business plans, danny brown, management, managing your business plan, tips, updating your business plan
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Published April 17th, 2008
With businesses constantly wary of losing staff to rival companies, many are now enforcing what’s known as non-compete contracts. This is where new employees sign a contract that states they cannot contact a client of their old company to take them to their new place of work. It usually applies for anywhere between 2-3 years from the date the ex-employee leaves the company. However, whilst it’s an excellent way for business owners to protect not only their clients but also their intellectual property, it can also have its negative sides.
The Pros of Non-Compete Contracts
The obvious benefit of having... Read more
Tags: advice, danny brown, employees, Hiring and Human Resources, legal, management, non-compete contracts, tips
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Published April 16th, 2008
If you’re searching for some business bling: bigger profits, more customers, an increase in traffic, etc., then start treating your business like you’re in showbiz, baby! What this really means is giving your business its own identity. You’d never see Jim Carey and Robert De Niro competing for the same role. Why? Because they have positioned themselves as different “brands”, or different identities. And you should do the same thing for your company or products. Having a branded image will help your company to stand out in an already overcrowded marketplace.
Take a look at your competition and find your... Read more
Tags: advice, Carrie Hinkel, Growing Your Business, management, tips
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Published April 9th, 2008
Entrepreneurs have been described as many things over the years in a variety of mediums. Aggressive, type A, intelligent, calculating, assertive, savvy, and many other terms and descriptions have been used.
Tai Chi is often called a passive martial art form, and “whole body and mind” form of exercise. Known throughout the world as a form of exercise to help with stress, how can Tai Chi be compared to being an entrepreneur? After all, one of the more famous quotes in Tai Chi is action through inaction which would seem to run counterintuitive to the entrepreneurial spirit.
Dig deeper in... Read more
Tags: entrepreneurs, Growing Your Business, larry Slusser, management
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Published April 4th, 2008
Are you one of those people who checks their email every five minutes? And do you practically have a panic attack when you’ve realized that you left your Blackberry at home or in the car? Well, you’re not alone. Today, in this digital age, workers have become so reliant on their email communications that it has become more of an obsession, making workdays less productive.
When you consider emails over phone calls, it’s easy to see how emails can be time savers: a quick 30-second email verses a 10-minute phone call. Okay, so what is the problem? Well, considering emails... Read more
Tags: Carrie Hinkel, effeciency, Growing Your Business, information management, management, staying productive
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Published April 4th, 2008
The old adage says ‘variety is the spice of life’ - but if you are in business, you know that variety in customer purchasing patterns can be an extremely stressful issue to deal with.
Every season will see different products shoot to the top of the must-have list and others sitting on the shelves, gathering dust. What you want to know is how to stock more of those ‘must-haves’ and fewer of the dust gatherers.
Some seasons will see a trend to fewer purchases - other months, everything you have on the shelves will be selling.
While you can’t change... Read more
Tags: holiday, inventory, Leeia Ladipoh, management, product demand, Product Sourcing, seasonal, source
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Published March 31st, 2008
Knowing what will motivate your employees is tough. Thus, it is important to determine how and what makes each of your employees tick. This will help you to establish different motivators that will appeal each person.
Regardless of what you do to motivate your employees, it is important that you do something. If you do not do anything to motivate your employees, they will care less about the success of the organization, or about their jobs. Motivation does not always come in the form of financial rewards. That is an important motivator to have in place, but money is not... Read more
Tags: advice, employee morale, Hiring and Human Resources, larry Slusser, management, motivating your employees, tips
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Published March 24th, 2008
Technology does not supersede good, old-fashioned knowledge management. It is the staple of any emerging small business. If you are no longer the receptionist, secretary, bookkeeper, webpage designer, and customer service specialist, you probably don’t realize the methods of your employees, their growing responsibilities and most importantly, neither will anyone else when they leave. Knowing that they do their jobs simply isn’t enough.
Take a moment to consider what would happen if the most valued employee was injured. Could anyone else walk into that position and know that Company Y’s project director uses your business to perform his job and... Read more
Tags: information management, management, Melissa Bailey, technology
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Published March 20th, 2008
With the retail industry taking in $4.5 trillion in sales in 2007, it’s no wonder that more and more people are considering opening their own retail store. But, being a successful retailer isn’t as simple as entering the industry and opening a store. In order to have the best chance of running a successful retail establishment, you should first assess your skills to figure out what your personal strengths and weaknesses are for being a retailer. If you fall short in some areas, don’t worry, you can always take a course, do some research or, even easier, hire someone who... Read more
Tags: Accounting, advice, Carrie Hinkel, customer service, Finance and Accounting, management, Marketing, retail store, Sales, Starting a Business, tips
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Published March 20th, 2008
Understanding your business’ range of potential risks can help you to manage them, or even avoid them all together. By anticipating risks and potential pitfalls for both your business and the industry as a whole, you can protect your business and improve its success. Here’s how:
Step one: Identify the risks
There are two categories of risks facing companies: risks that directly affect the business and risks that face the business’ industry as a whole. For the former, make a list of potential risks that are affecting your business. It might include things like: specifically-named competition, price increases, material shortages,... Read more
Tags: business risks, Carrie Hinkel, Growing Your Business, lowering risk, management, protecting your business
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