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Atricle Dump - Small Business Help: Top 7 Assumptions that Keep Small Businesses From Success
This article relates to the Career Opportunity competency, commonly evaluated in employee satisfaction surveys. It explores issues such as internal growth opportunities, potential for advancement, career development importance, and the relationship between job performance and career advancement. It examines whether your employees believe they have a chance to grow within the organization. Studies show that lack of career opportunity is one of the top reasons why employees leave an organization.Also, continually hiring open positions from outside the organization can be detrimental to morale when a qualified candidate is available internally. Topics covere
Thanks to Wojciech Jestrzebowski, a Polish scholar, who introduced the term Ergonomics back in 1857 we know more about how we can incorporate the use of equipment to help with some of the daunting work duties that may take its toll on our bodies in the long term. It has only been in the recent years that companies have taken notice and have implemented ergonomic equipment in the work place. Thanks to these employers we can now lead a healthier, happier life with less body pains and strains than before.Computer work stations have advanced significantly throughout the years as people sit at them more and more. The incorporation of a good ergonomic chair
Assumption #1 - Everyone needs my product or service.
During a recent workshop on business building for local business owners in Northwest Indiana, one of the participants said with great conviction that "Everyone needs a health store." I respectfully challenged that assumption by providing some examples from my own family including a 102-year-old grandmother and an 85-year-old uncle who had never been in a health food store. Her assumption potentially kept her from identifying her true customers.
Assumption #2 - I can't spend time working ON my business.
Having worked with a variety of small business owners to help them create executable strategic plans, this assumption is disastrous. When business owners assume that they must focus 99% of their time working IN the business instead of ON the business, the chances that the business will falter in the future have been greatly increased. This assumption is verified in the book It's Not the Big that Eat the Small…It's the Fast that Eat the Slow, by authors Jason Jennings and Laurence Haughton who expose how much time business owners spend on yesterday and today's issues without looking to the future the source for tomorrow's business.
Assumption #3 - I can't afford to spend money to grow my business.
What is so consistent is that many business owners will drive expensive vehicles because of the perceived benefit as an investment due to the tax write off, but will not invest any money into developing their own business. Yet, these same business owners will complain how bad business is. As an executive coach, one of my most frequent complaints is that I cannot afford you. This statement is issued before any discussion about the extent of their issues. An assumption already exists that they cannot afford me or anyone else to help th
Mining metal detectors are suitable solutions for mining applications. They can prevent damage to crushing machines, conveyor belts and other machinery in advance by detecting iron pieces contaminated in crushed stone and ores.Mining metal detectors are also able to remove non ferrous metal components that cannot be detected using magnetic separators. Some models work in an efficient manner for high-manganese steel. Most of the metal detectors for mining projects use steel plated and water resistant construction. Some come with M type search coil. This mono-frame coil reduces the need for coiling work at the installation place. Vibration resistance is ano
During a recent workshop on business building for local business owners in Northwest Indiana, one of the participants said with great conviction that "Everyone needs a health store." I respectfully challenged that assumption by providing some examples from my own family including a 102-year-old grandmother and an 85-year-old uncle who had never been in a health food store. Her assumption potentially kept her from identifying her true customers.
Assumption #2 - I can't spend time working ON my business.
Having worked with a variety of small business owners to help them create executable strategic plans, this assumption is disastrous. When business owners assume that they must focus 99% of their time working IN the business instead of ON the business, the chances that the business will falter in the future have been greatly increased. This assumption is verified in the book It's Not the Big that Eat the Small…It's the Fast that Eat the Slow, by authors Jason Jennings and Laurence Haughton who expose how much time business owners spend on yesterday and today's issues without looking to the future the source for tomorrow's business.
Assumption #3 - I can't afford to spend money to grow my business.
What is so consistent is that many business owners will drive expensive vehicles because of the perceived benefit as an investment due to the tax write off, but will not invest any money into developing their own business. Yet, these same business owners will complain how bad business is. As an executive coach, one of my most frequent complaints is that I cannot afford you. This statement is issued before any discussion about the extent of their issues. An assumption already exists that they cannot afford me or anyone else to help t
One of the problems we have when we interact with professionals, whether they’re architects, doctors, lawyers, or accountants, is the fact that we never quite know enough to know when THEY don’t know enough.We can spin our wheels, wasting time and money, and suffer even worse outcomes if we deal with the WRONG professionals.Divorces and dissolutions of business partnerships can go on for years instead of months.Our medical maladies can be misdiagnosed, and what was curable, or at least manageable, could rage out of control with the passage of time due to wrong or incomplete treatment.Important deadlines can be missed because some prof
Assumption #2 - I can't spend time working ON my business.
Having worked with a variety of small business owners to help them create executable strategic plans, this assumption is disastrous. When business owners assume that they must focus 99% of their time working IN the business instead of ON the business, the chances that the business will falter in the future have been greatly increased. This assumption is verified in the book It's Not the Big that Eat the Small…It's the Fast that Eat the Slow, by authors Jason Jennings and Laurence Haughton who expose how much time business owners spend on yesterday and today's issues without looking to the future the source for tomorrow's business.
Assumption #3 - I can't afford to spend money to grow my business.
What is so consistent is that many business owners will drive expensive vehicles because of the perceived benefit as an investment due to the tax write off, but will not invest any money into developing their own business. Yet, these same business owners will complain how bad business is. As an executive coach, one of my most frequent complaints is that I cannot afford you. This statement is issued before any discussion about the extent of their issues. An assumption already exists that they cannot afford me or anyone else to help t
Wise experienced leaders from all walks of life tell me that personal reflection is one their most valuable tools for remaining effective and ahead of the game.When I seek to pass this advice on to my clients, I often get this question "How does one effectively reflect?"Reflection is the point of maximum learning from one's experiences. Whilst experience is learning, reflection about the experience provides even more learning.To maximise the learning opportunity from reflection, create a simple process that enables you to think clearly and record your reflections.Here are some tips you can adapt to suit yourself.1. Choose a re
Assumption #3 - I can't afford to spend money to grow my business.
What is so consistent is that many business owners will drive expensive vehicles because of the perceived benefit as an investment due to the tax write off, but will not invest any money into developing their own business. Yet, these same business owners will complain how bad business is. As an executive coach, one of my most frequent complaints is that I cannot afford you. This statement is issued before any discussion about the extent of their issues. An assumption already exists that they cannot afford me or anyone else to help t
Discover the Secret to LongevityIt’s a typical day at CMP where calls and e-mails are coming in from people looking to become contract processors. Most all of them sound confident that they have enough industry experience and knowledge to hit the ground running. A good majority of them take this confidence and jump ship. They dive deep and head for shore.Fast forward 18 months from now. It’s likely that we’ll encounter that same individual again. They will still be in the business but NOT as a contract processor. They’re with another broker or lender working as a processor or sometimes even a loan officer. What happened? Why would
Assumption #4 - I can't afford to spend money training or developing my employees
Even though the greatest resource to any business is the employees, business owners in many cases will "invest" money in everything but their employees. New vehicles, new equipment, new computers and the list goes on are considered a priority investment, but training the employees is considered an expense. History shows this to be true because when there is an economic downturn, the first cuts are usually to Human Resources especially within training and development and not to Capital Investments or Improvements.
Assumption #5 - My business is unique and therefore my challenges are unique.
Each business owners believes her or his business is unique. Whether the business is in health care, education, manufacturing, not for profits or professional services, the basic challenges are the same – getting sales, growing sales, increasing profits reducing costs and leveraging resources.
Assumption #6 – I don't need a plan of action.
In November of 2001 two months after 9/11, I spoke to a group of over 100 business owners and asked them: "How many of your businesses have been negatively affected because of 9/11?" Over 90 business owners raised their hands. I then asked another question: "How many of you have experienced significant reductions in revenue that will affect your overall annual performance?" Again, well over 70 hands were raised. Finally, I asked everyone: "How many of you have revisited your strategic plan or your business plan to make the necessary course corrections to this unforseen event?" Only 5 business owners raised their ha
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