For small businesses, making the most out of every team member’s strengths is a must. It’s the only way to compete in the global economy, which often pits upstart businesses against far-larger and more established rivals. Doing so means establishing a culture of collaboration that encourages every employee to work with their peers to form […]
Leadership
Coaching Has a Shelf Life
We are most effective in coaching when we are focused on an observable behavior. That is, “I observed you doing this…” “When this happens, you tend to do…” “What would happen if…” Observable behaviors critical to effective coaching. They provide the context for the conversation. But observable behaviors have a shelf life, or use by […]
The Best Things About Your Company Board
For weeks, we’ve highlighted both good and bad things about boards of directors for your company (or non-profit.) This week, let’s focus upon number one—aside from the requirements of boards to protect the company itself (not the shareholders.) Normal functions of boards Boards of directors fulfill numerous important functions, both legal and structural. Boards provide […]
7 Common Causes of Failure to Communicate in Business
Most business mentors tell me that the single biggest problem they have to deal with in small companies is the lack of open, honest, and effective communication, both from the top down and from the bottom up. Some entrepreneurs forget that talking is not communicating. Fortunately these skills can be learned, and the barriers to […]
5 Proven Ways to Keep Employee Morale High
We’ve all heard the phrase “happy wife, happy life.” There should be another similar phrase when it comes to running a business, “happy employees, more successful company.” While it doesn’t have the same rhyme (unless you change company to companies) it’s still an idea that plenty of bosses and business owners should have in mind. […]
Caution: 3 Main Reasons for Business Failures
Running out of money Lack of planning Growing too fast There are countless scare stories out there and it’s true, many businesses don’t make it in the long run, but according to the SBA, only 30% of new businesses fail during the first two years of being open, 50% during the first five years and […]
3 TED Talks Every Entrepreneur Needs to Watch
Being an entrepreneur isn’t easy. While you should always be doing industry research and working on the next phase of your hustle, sometimes you just want some inspiration to encourage you and get you in the right frame of mind. Find this inspiration with a TED Talk! By utilizing this excellent resource, you and your […]
So Your Board is Dysfunctional. What to Do?
It happens. Boards are elected by the shareholders, sometimes with preferred shareholders holding seats by right of their investment. In that instance, often the investor selects the board member and the CEO goes along with the choice, mostly out of having no alternative at the time. How the board can arrive at dysfunction Then there comes […]
How to Reach Your Potential in an Ever-Changing Workplace
Career progression used to be linear… Get a job, work hard, and make your way up the organizational hierarchy. Predefined structures determined a career path and tenure was reflected in a salary. Over the past few decades, the workplace has embarked on a new journey. Globalization has changed cultural expectations and technology has redefined roles, […]
7 Keys to Balancing Profits Versus a Higher Purpose
It’s always been tough to start a new business, even when the bottom line was just making a profit to stay alive. A few years ago, a second focus of sustainability (“green”) was added as a requirement for respectability. Now I almost always hear a third mandate – social responsibility. Entrepreneurs are now measured against […]
