Warren Buffet is quoted as saying, “Risk comes from not knowing what you are doing.” Mr. Buffet is considered one of the smartest investors in the modern era. One might say that he is a very knowledgeable investor. What makes him a knowledgeable investor? I would suggest that he works hard to become knowledgeable in the companies in which he invests. He learns to know their management, their product/services, their people, their plans, their competitors, their markets, their technologies and their people. He never assumes anything or works on a tip. He is in a constant search for knowledge.… Read the rest
We often find ourselves in a position where we have to hire a sales person. We might also find ourselves needing to evaluate the worth of one who is already on-board. The question is, therefore, what traits we want to see in evaluating this person, especially if the task involves finding a new client or a new job. Let’s consider these five points.
So many in the charity and nonprofit world are internally focused on the good work they do. They see, on a daily basis, the positive results generating from their effort. In fact, that is their motivational force, but they may not make a priority of sharing those results with others outside their organization. In many cases, their accomplishments are the best kept secret in town.
David Allen is quoted as saying, “You can do anything, but not everything.” In the process of building growth plans for various size businesses, there comes a point where the team begins to put together ideas for the future. Those plans are expressed in terms of goals and action plans to support those goals. Members of the team tend to be optimistic about their future or they would not be invoked in such a planning process. The result is a list of plans and ideas which are far beyond the capacity of the organization to accomplish. At that point, priorities have to be established.… Read the rest
I am reminded of a moment in Pride and Prejudice when Mr. Darcy tells Elizabeth Bennet, “I cannot forget the follies and vices of others so as I ought, nor their offences against myself.” She then admits, “My good opinion once lost is lost forever.” In our consideration of leadership we must understand that trust is a quality developed over time but easily lost. It is an essential part of the leadership attributes of anyone who leads a business or organization.
Warren Buffet is quoted as saying, “Look for 3 things in a person, intelligence, energy, and integrity. If they don’t have the first one, don’t even bother with the first two.”
“In the world today there are two types of organizations. There are learners and there are knowers. The learners will inherit the earth; while the knowers will be beautifully equipped to function in a world that no longer exists.”
We are often in a social situation where we meet people, who will eventually ask us, what we do. When we reply that part of our practice is business coaching they often reply, “OH that’s nice.” They say that in a way which indicates that they are unsure of what that means and are fearful of finding out more about the subject. They assume that they are well equipped to handle their business issues or that this is a “touchy feely” subject that makes them uncomfortable.… Read the rest
Leadership is a key element in the development or rebirth of any organization, whether it is a for-profit business or non-profit community organization. It is important to large corporations, such as General Electric; small local businesses, such as a town dry cleaner; city, county and state government; churches, and service organizations such as Rotary.… Read the rest
Every entrepreneur I have ever talked to has had to come face to face with his/her fears. I have had to as well. I want to share with you some of the techniques I have used to face them.
The first step is not to be in denial. You have fears even if you don’t readily acknowledge them. They sometimes take the form of chatter in the back of your head that says you can’t do it.… Read the rest
As any business or organization begins to grow, there comes a point where the leadership begins to realize that they cannot do or control everything themselves. They must begin to delegate tasks and responsibilities to others; but of equal importance, is to empower those individual. Empowerment in the simplest terms means to treat people not as employees, but as partners.… Read the rest
Most organizations have at least one individual who might be considered troublesome. They may be tolerated because the group feels that they carry their load. They may not be tactful and could often be abrasive, leaving you with a very tricky situation. How you handle these individuals, who some might classify as characters may have a significant impact on the effectiveness of the group. Some might consider them loners in that they often fail to greet coworkers and fail to say hello in the morning. They might fail to have eye contact or make unusual statements at inappropriate moments. Others often say “well that’s the way he is.” As a manager you must tread lightly with these personalities; but to maintain communications and productivity there are some suggested actions and things to avoid.… Read the rest
One of the skills necessary for success in any business or nonprofit organization is the ability to chart a course. To properly chart a course, it is important to understand first where you are, than where you want to go, and finally the plan on how to get there. If you have ever been in a new town and wanted to go out to dinner, you might have first looked for a restaurant in a magazine. You then call to find out where they were located. The first question you were asked by the person in the restaurant is where are you now? In fact, you have just taken the first step in charting a course to dinner.… Read the rest
Are you looking to be more successful? Here are ten ways to grow your small business.
Know yourself. Do a SLOT analysis. What are your strengths, your limitations, opportunities, and threats? Examine and understand each. In every strength, there is a limitation and in every limitation there is a strength (e.g. you are small so lack financial clout; the advantage is by necessity you will be more creative). The better you know yourself the more successful you will be. By knowing yourself you not only know your areas of opportunity, you know what areas to avoid.
As a business person managing a small or medium size company, you may not be able to relate the subject of leadership to success in your business. If fact, when you see the subject as the topic of this article, you may choose to slip it and move on. So no matter whether you are a one person business or have a staff of dozens, leadership is critical to your continued success. When you think of a leader in a successful business, ask yourself:
What specific personality characteristic does this person possess?
How does this person relate to others, professionally and socially?
Overtime Overhaul: Review Proposed Changes Now Before Final Rule Announced
Overtime rule expected to be costly
By Allen Smith 5/10/2016
As HR professionals wait anxiously for the release of the U.S. Department of Labor’s (DOL’s) final changes to the overtime exemptions, it’s becoming clear that the new rule will cost many employers a lot of money. But the revised standard also will create an opportunity for HR to correct some past mistakes.
Employers will spend $592.7 million to comply with the new rule, the DOL estimated, saying that each of the 7.4 million affected establishments will need one hour to get up to speed on the changes. The department calculated that it will cost $254.5 million for businesses to become familiar with the regulation; $160.1 million to make necessary adjustments; and $178.1 million in managerial costs… Read the rest
The Top 10 Signs That An Employee May Be In ‘Active Addiction’
The cost to business of employee addiction is tremendous. Many addicts (which includes alcoholics) become extremely skilled at hiding or explaining away events related to their addictions. Encouragement from an employer can be a powerful prompt to the employee to get appropriate treatment and so return to full productivity. (Note: Automatic termination of actively addicted employees is neither humane nor advisable. First, addiction is a disease, not a moral choice. Second, many people who are addicted may be covered by the Americans with Disabilities Act.) Although some of the following may occur in employees who are not addicted, the more that apply, the more likely it is that the employee suffers from addiction in some form or other.… Read the rest
Peter Drucker tells us that, “Napoleon said there were three things needed to fight a war. The first is money. The second is money. And the third is money. That may be true for war, but it’s not true for non-profit organizations. There you need four things. You need a plan. You need marketing. You need people. Any then you need money.” Let’s start by considering marketing. If your non-profit is funded by an endowment or a wealth donor, this may not be of much interest. For most of us it is an issue which must be addressed in order to sustain our activities.
So many think that they don’t need marketing. In fact, they consider the term unsavory.… Read the rest
Great teamwork is one of the most important keys to your organization’s success. The more harmoniously people work together, the better it is for your overall efforts. Teamwork is the way that things get done these days and if you don’t have a cohesive team, you’re seriously handicapping your company out in the marketplace. Team building is necessary for success because it’s unnatural for people to come together in a new group and immediately begin to get along. Throughout history, building a team has been the function of shared experiences and history. When that experience and history is lacking, it’s difficult for a group to share a common vision and goal, or to function together in a way that promotes the best qualities of each team participant.… Read the rest
In his book, The E-Myth RevisitedMichael Gerber describes the roles played by different personalities within a business. The first is the technician, who actually does the work or delivers the service in the business. The second is the manager, who organizes and controls the business on a daily basis. The third is the entrepreneur who best understand the business environment and leads it though changes necessary for continued success. One might conclude that knowledge of actual working in the business or managing the operation of the business does not always lead to success. What leads to success is knowledge of how a business needs to operate within its competitive market place.… Read the rest