Here’s an interesting question I received on Linkedin from Richard Sink who asked:
“What lessons can you share with us about strategies when trying to turn your ideas (be it for social good or professional gain) into a reality?”
Great question. I work with start up’s on launching new ideas as well as established companies on re-inventing themselves in the marketplace.
I’d like to offer you a great format I use with my clients through this process. It’s the 8 stages of a start up which should be followed in this order: (more…)
Remember the time you decided to take a 15 minute coffee break from work and sat down reading a newspaper in the cafeteria? Later on you got up feeling very well informed about current affairs but realized an hour had passed and you had to rush back to your desk to complete the tasks on your to-do list. Or the time you decided to clean your drawers on a weekday to search for a piece of paper and ended up redecorating the entire room with your son?
While both these exercises may appear fruitful at first, in practical terms they are not. The mark of an intelligent and result oriented person is discipline, and not just getting things done – but getting the ‘right’ things done. You might actually be a victim of procrastination. (more…)
During these economic times, when the unemployment rates are too high people opt for starting and running a small business, for various different reasons. Running a small business can be a profitable and successful endeavor. But you need appropriate skills and ideas to make it one, without which it can create a lot of hassle and can turn to be quite stressful. Doing business is about increasing sales and profitability and if you do not meet these goals, the business is not worth the effort. Here we will discuss various important tips that are sure to be beneficial for you in running a small business. (more…)
It’s great news if your business is growing quickly! But will things move so fast that you’ll struggle to keep pace? It’s a real possibility – so we better give it some thought. Knowing the potential pitfalls in advance and understanding how to mitigate them can go a long way in writing a successful growth story.
Pitfall #1: You may hire too many bad employees or misfits
Business growth is directly proportional to hiring employees for most businesses – more work means you need more pair of hands. The risk of hiring the wrong people in your rush to fill up positions is very real and many fast growing business end up in this situation. (more…)
Running a small business is by no means an easy feat. I always say that people with white collar desk jobs in large corporations get it easy. Everything has been laid out for you; there are company manuals, standard operating procedures, a communication hierarchy and you can always ‘go to’ somebody to help you with work or resolve an issue.
Running your own business however is a very different ball game. You are overlooking all aspects of your little empire and sometimes even micromanaging it, there is payroll, business development, client servicing, checking on payments and liabilities, you are even looking around for any cracks in the paint or water seepage left unaddressed from the last rainy season. (more…)