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.
Today’s economy has given small business owners and managers a new reality: the loss of target clients and the need to reassess their business models to find new ones. It is either reassess and float or keep business as usual and drown.
In our current economy, our customers are buying differently. They are also generally responding to marketing in entirely new ways. Evaluate your business model and processes to take these fundamental changes into account.
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.
Reviewing your business operations includes looking at your I.T. Establish what is actually working for you and stop wasting time with what is not. There are often inexpensive options that can see you profit the most from your technology.
Many people are energized by the confusion and stress of impending deadlines, but over the long haul, you will not be able to use your limited time wisely if you work in an unorganized environment.
A business plan is important throughout the life of your business – not just at the start – and one of the crucial things you should identify in that plan is why your existing customers should and do buy from you.
How can business successfully create virtual positions? Telecommuting has proven itself as a good business practice by helping to reduce turnover, improve morale, increase productivity, and often reduce costs. Larry Mandelberg outlines three key aspects managers should heed in creating virtual positions.
Why a business is doing well or poorly is in the details. Measuring takes time and discipline, and forces management to think strategically. Subsequently measuring is often ignored. Measuring results, however, is the only way you can possibly improve upon them.