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In a small entrepreneurial company, everyone pitches in to do some of everything. With a small staff and limited resources it’s a necessity for young companies. As the level of activity increases you add more employees. Ultimately though you arrive at a point of diminishing returns.
With too many people doing the same tasks there is no consistency. With such a diffusion of responsibility there is no single source of the latest information and no real accountability. When everyone is accountable, no one is …
People Learn Better When They Also Teach
People who are expected to teach what they’re learning pay more attention and learn more than others without that expectation. When you’re training employees let them know that they will be training their colleagues. Everyone will get more benefits from the education. Instilling the idea that everyone in your company learns and teaches is a powerful culture driver.
Some Points That Make Feedback More Effective
1. Focus on business outcomes, not personalities
2. Address specific behaviours and use examples
3. Discuss the impact …
Maximum Motivation
Evidence from athletic competition shows that teams just slightly behind will try harder and are likely to pull ahead. Similar effects are seen in the animal kingdom and the corporate world. The most motivating goals are not the big lofty ones, rather those that appear close and achievable. By strategically setting smaller goals and deciding when to stop and take stock, the CEO can get the maximum motivation from his of her team.
Saving Knowledge
Many CEOs are aware of their coming brain drain – a …
Without question these are tough economic times for lots of business owners. We’re now in an environment that no one has seen before and no one knows quite how to manage.
Even more than usual, growth comes from constant adaptation. Now is the time to take advantage of the huge opportunity that exists while the market and competition are in a state of flux.
You need a short term approach that doesn’t distract you from your long term strategy and goals and still has an immediate …
[Editor's note: This article was first published by GAMA International, an association that works to develop the leadership talent in the financial services industry.]
Are we in a recession? Will we be soon? How long will it last? How deep will it be? The economists will debate these questions and conclude when it was – long after the damage is done. The more useful question is what should I do differently in my business during a time of economic uncertainty?
A recession or any type of …
Due to some long term medical concerns I won’t be posting anything for a while. Check back in March of 2009. Thanks for your interest.
