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Atricle Dump - 3 Strategies to Minimize Stress When You're the Boss
S Corporation is an elective provision that permits small business corporations and their shareholders to elect special income tax treatment. In S corporation status, corporate income tax can be avoided and shareholders can claim corporate losses. These are domestic corporations that can avoid double taxation by electing to be taxed under Subchapter S of the Internal Revenue Code. The S corporatio
2. Let your people know (in writing) what is expected of them in terms of results and deadlines. Agree with your partner, if you have one, what you
It’s just so impossible to imagine a life without electricity or electronic goods. Electronic goods have become such intrinsic part of our lives that we have started taking them for granted. Would not life be such an improbability without refrigerators, water heaters, iron, coffee maker, dryers, air conditioners and dish washers?!Though these items are easily available on high streets, yet
Sound familiar? You have a lot of company. In every business, however, "somebody" has to be the boss. You may not have the training, the desire or the patience but you have the job. Is there any way to make it less painful?
YES! First recognize that every business is in two businesses. You do what you do -- plumb, build, sell, manufacture, etc. -- that's your first business. Your customers ultimately decide how well you practice this business by the sales they give you. If you serve their needs, you continue to get their support. If you don’t give them what they want, they won’t support you, you won't long have a business to worry about.
Your second business is the business of staying in business. You may be great at what you do, but if you fail to run your business properly, you can run yourself out of business -- FAST. This is my friend's problem. He feels overwhelmed by "being in business."
Being in business, though, doesn't have to be a stressful and draining. Here are three strategies you can use to help you be a better manager of your business:
1. Start by thinking through why you are in business. If you haven’t already, write down your clear business goals with a deadline for their attainment and write them in terms of results. Write down what you have to do to meet your goals. (For example: Use PostIt(TM) Notes to list each step of how your work flows, starting with getting prospects and ending with getting paid. What paperwork do you have to generate? How many sales calls have to be made? What are your production quotas? What controls are needed? Etc.)
2. Let your people know (in writing) what is expected of them in terms of results and deadlines. Agree with your partner, if you have one, what you
If you're like most of us, as soon as you've paid your fee to become a distributor, the first thing you want to know is: "How do I build my organization and make "X" number of dollars a month?" Amazingly, a lot of big money earners may give answers to that question that bring you no closer to achieving your goals than you were before.For example: 1. "Talk to people." (Unfortunately, when a
Sound familiar? You have a lot of company. In every business, however, "somebody" has to be the boss. You may not have the training, the desire or the patience but you have the job. Is there any way to make it less painful?
YES! First recognize that every business is in two businesses. You do what you do -- plumb, build, sell, manufacture, etc. -- that's your first business. Your customers ultimately decide how well you practice this business by the sales they give you. If you serve their needs, you continue to get their support. If you don’t give them what they want, they won’t support you, you won't long have a business to worry about.
Your second business is the business of staying in business. You may be great at what you do, but if you fail to run your business properly, you can run yourself out of business -- FAST. This is my friend's problem. He feels overwhelmed by "being in business."
Being in business, though, doesn't have to be a stressful and draining. Here are three strategies you can use to help you be a better manager of your business:
1. Start by thinking through why you are in business. If you haven’t already, write down your clear business goals with a deadline for their attainment and write them in terms of results. Write down what you have to do to meet your goals. (For example: Use PostIt(TM) Notes to list each step of how your work flows, starting with getting prospects and ending with getting paid. What paperwork do you have to generate? How many sales calls have to be made? What are your production quotas? What controls are needed? Etc.)
2. Let your people know (in writing) what is expected of them in terms of results and deadlines. Agree with your partner, if you have one, what you
Business Owners tend to identify themselves with their business. They show pride in the name, the function and the growth of their business. After all, it’s their ‘baby’. But there are three important reasons why your business and you should not be so closely identified: (1) Protection, (2) Privacy and (3) Capital Growth.Protection is Most Important.ultimately decide how well you practice this business by the sales they give you. If you serve their needs, you continue to get their support. If you don’t give them what they want, they won’t support you, you won't long have a business to worry about.
Your second business is the business of staying in business. You may be great at what you do, but if you fail to run your business properly, you can run yourself out of business -- FAST. This is my friend's problem. He feels overwhelmed by "being in business."
Being in business, though, doesn't have to be a stressful and draining. Here are three strategies you can use to help you be a better manager of your business:
1. Start by thinking through why you are in business. If you haven’t already, write down your clear business goals with a deadline for their attainment and write them in terms of results. Write down what you have to do to meet your goals. (For example: Use PostIt(TM) Notes to list each step of how your work flows, starting with getting prospects and ending with getting paid. What paperwork do you have to generate? How many sales calls have to be made? What are your production quotas? What controls are needed? Etc.)
2. Let your people know (in writing) what is expected of them in terms of results and deadlines. Agree with your partner, if you have one, what you
For those that have put in the time and effort to build up a business, they really need to understand the value of maintaining those hard won clients. There are many situations that may leave a business owner scratching his head and wondering which client gifts are the most appropriate, if any at all. The same can be said for valued employees as well.In order to maintain friendly, but prof
Being in business, though, doesn't have to be a stressful and draining. Here are three strategies you can use to help you be a better manager of your business:
1. Start by thinking through why you are in business. If you haven’t already, write down your clear business goals with a deadline for their attainment and write them in terms of results. Write down what you have to do to meet your goals. (For example: Use PostIt(TM) Notes to list each step of how your work flows, starting with getting prospects and ending with getting paid. What paperwork do you have to generate? How many sales calls have to be made? What are your production quotas? What controls are needed? Etc.)
2. Let your people know (in writing) what is expected of them in terms of results and deadlines. Agree with your partner, if you have one, what you
Every once in a while you come across an individual who has an entitlement attitude. They feel that they’re blessed with unusual ability that far exceeds the rest of God’s creatures and that the people they’re forced to deal with are just mere servants that should be catering to them. If this sounds familiar to you, you’re not alone.This week I was calling upon a new customer and he had be
2. Let your people know (in writing) what is expected of them in terms of results and deadlines. Agree with your partner, if you have one, what you can expect from one another. Don't leave any gaps in your expectations. Measure every action and person in the business against those goals. Do not tolerate any action inconsistent with the goals.
3. In terms of day-to-day management skills, rely on good old common sense. If an action doesn't meet a common sense test, it is probably bad management theory, as well. Always keep in mind that when the work flow flows and your policies and procedures are working and when people know what they are supposed to do and are allowed to do it, there is very little need for additional management. You will still need to be the manager -- when things don't work. But if your company's goals are clearly stated, and everybody is pulling in one direction, that won't happen often. And isn't that the kind of management you for that matter, can live with.
Copyright 2006 John J Reddish
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