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Leadership
Reasonable Person Principle
Any time you get a group of people together, there are bound to be misunderstandings and disagreements. How you handle these situations is important for a strong corporate culture. The Reasonable Person Principle is a simple but effective approach to building a culture of trust.
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.
Document Your Philosophy
Do you know what your business stands for? Do your team members? Do your customers? A great corporate culture is an important contributor to a business’s success, and documenting your philosophy is a foundational step. Then you need to communicate it to everyone and make sure you uphold it.
Caution in Hiring: One Bad Apple Can Spoil the Bunch
Your corporate culture is only as strong as the people you put on your team. And when you have just a few employees, each one is even more important. When it comes time to hire, make sure to look at how potential employees fit with your culture just as much as you look at skills and experience.
Bad News Doesn’t Get Better with Age
Small business owners have to deal with reality. You cannot solve a problem by ignoring it. Bad news will not get better with age. An open culture means being open to honest feedback of any kind, whether positive or negative. Mistakes are ok, but you have to recognize them and move on.
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?
Success Doesn’t Happen by Accident
Do you ever wonder how people at the top got to where they are? The answer is simple: hard work and fundamentals. It can be tempting to look for a shortcut to success, but the only route to lasting, sustainable success is through perseverance and a focus on getting the basics.
Handling Competition: Do’s and Don’ts
When you first started your business, you looked at your competitors with the eye of an upstart. But what do you do when a new competitor arises—and suddenly you are the old establishment? The new competitor is eyeing your customers, your employees, and your profits. You can’t afford to make a mistake.
Focus on Your Top Priorities
It seems like there’s never enough time in the day to do all the things you want to do. In fact, sometimes it seems like there’s not even enough time to do all the things you need to do! Entrepreneurs must prioritize their most important tasks to create a strong foundation for the business.
Finding Entrepreneurial Employees
More and more companies are citing “entrepreneurial experience” as a key factor when they hire new employees—even for entry level positions! Entrepreneurial candidates offer great benefits to business owners, including the work ethic and drive to improve that are so critical to success.
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