Here is a simple economic truth. Fixed overhead continues to eat into your cash month after month. It doesn’t differentiate facile, efficient businesses from slow, disorganized, quality-challenged ones.
Most emotional responses to decisions in business are generated not because the person making the response feels the decision was unwise, but rather unfair. So I’ve created the “Fairness Doctrine” as a stated element in the cultural fabric of businesses where I am involved.
The definition of a bottleneck in your business is one that constricts the flow of work from one area to another in the flow of product or service through your organization. A bottleneck in your organization’s flow can happen, shift, or disappear quickly.
How many of us have “hired” independent contractors over the years, a bit worried over the gray area between employee and contractor as defined by the IRS? I’ve experienced the results of a wrong decision, and the IRS and state agencies are not forgiving in their pursuit of penalties, interest, and (most damaging) assessing a company with both employer and employee taxes when reclassifying the person as an employee.
Small Biz Club is the premier destination for small business owners and entrepreneurs. To succeed in business, you have to constantly learn about new things, evaluate what you’re doing, and look for ways to improve—that’s what we’re here to help you do.