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One of the ultimate goals of a business owner is to maximize the value of their business. There may be no need or desire to sell right now and ultimately that day will come. There are a myriad of factors that determine the value of a business, here I’ll discuss just four that you can begin improving now.
Build Your Management Team
A good management team is essential for operations and growth and also has a big impact on the value of a company. Anyone who is …
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.
“Hire slow; fire fast…one bad apple…when you discover cancer…” You’ve heard all the sound bites for dealing with poor performers. Now it’s time to lead by example and take action. Here’s a quick road map for managing the process.
First, make certain of your facts before addressing the employee. Provide specific examples where your expectations were unmet. Listen to the explanations that are sure to come but remain firm as to the requirements of the job.
Second, ensure that the employee was properly trained to accomplish the job objectives. If not, you’ll …
