What will happen to your business after you retire? Most small business owners want their companies to survive after they leave, but only a small fraction of businesses actually manage to last into a second generation. To make it, you need an effective succession plan.
Encourage Independent Thinking
Encouraging independent thinking among your team members will generate new ideas and give everyone a stake in your business’s success. To make it happen, you must be willing to listen and engage with everyone, taking advantage of the different experiences and perspectives of your team members.
How Do I Innovate?
It’s easy to say that businesses need to innovate. But it’s a lot harder to actually do it! Successful innovation comes from your business’s core insights—the way you think and the way you use your resources, knowledge, and skills.
To Succeed, You Must Be Willing to Fail
It’s not use to be afraid of failing. Everyone fails. The difference is how you respond to adversity and failure. Successful people get up, think about what happened, identify ways to get better, and use that knowledge to succeed the next time. Do you see failure as an obstacle, or an opportunity?
What Is a Sales Alliance, And How Can It Help You?
The cost of marketing your business to new customers is a huge expense for small businesses, and the results are uncertain while you’re spending the money. One way to use your resources more efficiently and market directly to people who are interested in your product or service is through a sales alliance.
