When a business is born, it begins with an idea for a product or service …
Graduating from building a business to trusting your staff to run things whilst you oversea is a big step in ensuring you can enjoy your business and your life. Business Advisor Larry Mangelberg offers a How To on achieving just that.
A successful family business is possible with clear boundaries and well defined systems and structure. Formalize and document your processes and hold family and non-family staff to the same expectations.
Branching out and opening a second franchise or storefront presents exciting opportunities and requires specific considerations to be successful. Before that grand opening, take on board business consultant Larry Mandelberg’s experience and advice.
The two things that set any business apart from another similar business are staff and input from advisers. A board makes your organization accountable to an external group of knowledgeable businesspeople and will drive you to make better business decisions.
As a manager or business owner, your ability to encourage information sharing is critical to avoid bad decisions. Contributing to bad decision making is a lack of knowledge and experience. Recognize that you have limitations and embrace input.
Collaboration requires different roles in executing strategies. Understanding your team will allow you to best pair them for creativity, problem solving, and carry through. There are terrific resources out there to help managers gauge employee profiles.
If you are a leader in your business making plans for the coming year, part of your job is to identify all the direct and indirect stakeholders whose lives you impact, and who impact your business.
In general terms, a good business plan is a “must read” for all people involved with the company.The three most common audiences are your banker, your investors, and your staff — the people charged with executing it.