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You are here: Home > Business > Solo Professionals > Small Business Mistakes: Are You Making Enough of Them? |
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Atricle Dump - Small Business Mistakes: Are You Making Enough of Them?
How to Deliver the Right Message, Every Time ailing...saving me more money than I saved with the indicia. Frustrated CEO's and sales managers express that thought over and over, in one way or another. They're talking about their salespeople, of course. They harbor a feeling that some of their salespeople just aren't doing what they want them to do, communicating the right message and they don't know what to do about it.If that thought occasionally passes through your mind, read on."What do you want them to do?" I often reply.Boy – talk about opening a “can of worms.”That question is often too vague to hold any meaning in today’s world. Years ago, it may As a self-employed professional, you grow and mature by making, and then, correcting mistakes. The key is not only to make the right type of mistakes, but also to correct them yourself and, hence Opening a Dollar Store - Inventory Management That's right are you making enough mistakes in your business? Some of you are probably annoyed at my question; others are thinking "Geez, Rose! If I made any more mistakes I'd have to run screaming back to a day job!"One of the biggest challenges faced by those who are opening a dollar store is associated with inventory management. While sales may only be in the hundreds or low thousands on most days, that still means that an equal number (100’s to 1,000’s) of items have been sold and need to be recognized as no longer being available for sale. Faster selling item inventories need to be managed to insure that adequate inventory is maintained to allow sales to continue. Slowest selling items need to be recognized to determine the right steps to take in increasing sales or liquidating those spe If you went to school in the public school system in America, you were culturally trained to avoid and hide mistakes, after all; your teachers and professors didn't give you a great grade for your efforts unless those efforts produced great results. So, too, if you were an employee in corporate America you were rewarded for chasing perfection and penalized for making mistakes. But now you're self-employed. And it's a necessity that you rethink the whole issue of mistakes. One of the most important mental shifts we all need to make as self-employed business owners is from hiding and avoiding our mistakes to embracing them! And to making lots of little ones frequently! (It's those big mistakes that happen "once in a while" that will kill your business not the little mistakes you make daily.) Here's an example of one of those business-killing mistakes: Sam had been doing subcontracting work for Fred off and on over the past 5 years. Initially, Sam had a full workload for his business between the work he got directly from clients himself and the work that Fred hired him to do. Sam had a non-compete agreement with Fred. Essentially Sam agreed not to solicit work directly from any of Fred's clients for at least a year after having worked for Fred, but things are tough out here in the real world this year. Sam knew, from Fred, that Fred was actively marketing his business to a new department in a very large local corporation for whom Fred had worked for many years. In fact, Fred had brought Sam onto several past projects for this client. However, when Sam was approached by a local job-shopping temporary employment agency about the same gig, Sam agreed to allow the agency to submit him for the job. Sam didn't tell Fred that he was violating their non-compete agreement. Sam interviewed for the job and got it. Then he told Fred. This was a big mistake (to say nothing of the violation of several of my Client-Savvy Proficiencies for Successful Solopreneurs!) You can bet that Sam has just eliminated any further work coming into his business via Fred. Here are some examples of embraceable, little mistakes:
As a self-employed professional, you grow and mature by making, and then, correcting mistakes. The key is not only to make the right type of mistakes, but also to correct them yourself and, hence, Financing Your Business by Factoring Invoices ss owners is from hiding and avoiding our mistakes to embracing them! And to making lots of little ones frequently! (It's those big mistakes that happen "once in a while" that will kill your business not the little mistakes you make daily.)Waiting 30, 40 or even 60 days to get invoices paid can be a major challenge for any business owner. Although the work has been completed and delivered, the payment will come in weeks. In the meantime, the business has to pay employees, rent and regular expenses. If your business has a substantial cash reserve, this should not be a major problem.But, what if your business doesn't have substantial cash reserve? Many owners will try to get a business loan. But that won't help. Why? Because getting a business loan is almost impossible unless the business owner has good credit Here's an example of one of those business-killing mistakes: Sam had been doing subcontracting work for Fred off and on over the past 5 years. Initially, Sam had a full workload for his business between the work he got directly from clients himself and the work that Fred hired him to do. Sam had a non-compete agreement with Fred. Essentially Sam agreed not to solicit work directly from any of Fred's clients for at least a year after having worked for Fred, but things are tough out here in the real world this year. Sam knew, from Fred, that Fred was actively marketing his business to a new department in a very large local corporation for whom Fred had worked for many years. In fact, Fred had brought Sam onto several past projects for this client. However, when Sam was approached by a local job-shopping temporary employment agency about the same gig, Sam agreed to allow the agency to submit him for the job. Sam didn't tell Fred that he was violating their non-compete agreement. Sam interviewed for the job and got it. Then he told Fred. This was a big mistake (to say nothing of the violation of several of my Client-Savvy Proficiencies for Successful Solopreneurs!) You can bet that Sam has just eliminated any further work coming into his business via Fred. Here are some examples of embraceable, little mistakes:
As a self-employed professional, you grow and mature by making, and then, correcting mistakes. The key is not only to make the right type of mistakes, but also to correct them yourself and, hence From Bank Clerk to Entreprenuer Fred, that Fred was actively marketing his business to a new department in a very large local corporation for whom Fred had worked for many years. In fact, Fred had brought Sam onto several past projects for this client. However, when Sam was approached by a local job-shopping temporary employment agency about the same gig, Sam agreed to allow the agency to submit him for the job.What seems like a century ago, I left school and joined a well-known High Street Bank. In those days working as a bank clerk was a well-established route for many school leavers and perceived to be a proper job with prospects. It wasn’t long before I became disillusioned with the world of banking and sought a change of job. In complete contrast to my previous job, I became a clerk in the local hospital dealing with the injured and infirm, but it was a role that I found strangely interesting and rewarding. In today’s parlance, it is known as job satisfaction.My career prog Sam didn't tell Fred that he was violating their non-compete agreement. Sam interviewed for the job and got it. Then he told Fred. This was a big mistake (to say nothing of the violation of several of my Client-Savvy Proficiencies for Successful Solopreneurs!) You can bet that Sam has just eliminated any further work coming into his business via Fred. Here are some examples of embraceable, little mistakes:
As a self-employed professional, you grow and mature by making, and then, correcting mistakes. The key is not only to make the right type of mistakes, but also to correct them yourself and, hence Let's Flourish and Prosper! ttle mistakes: Some say that in business as in sex: if it is good, it’s great and if it is bad it’s still pretty good. This does not happen to be true. If business is bad, it can get very bad. There are personnel problems, production expenses, overhead, laws, taxes, fines. Faulty financial decisions, inability to accurately evaluate the situation and quickly resolve problems all lead to an extremely high mortality rate among new business: up to 95% do not survive past their first 12 months.Modern business management is an art, based on a certain technology requiring certain skills. There
As a self-employed professional, you grow and mature by making, and then, correcting mistakes. The key is not only to make the right type of mistakes, but also to correct them yourself and, hence Managing Conflict in the Workplace ailing...saving me more money than I saved with the indicia. Whenever you put a group of people into a work situation, there's potential for conflict. People bring to the job differing work habits, ethics, and modes of expression, and differences of opinion are bound to arise. Add to that issues of work allocation, opportunities for promotion, and other factors where employees are in a competitive situation with each other, and the likelihood of trouble is great.It's not possible to eliminate conflict from a workplace, but establishing clear guidelines for work responsibilities, promotion practices, and scheduling issues can go a lo As a self-employed professional, you grow and mature by making, and then, correcting mistakes. The key is not only to make the right type of mistakes, but also to correct them yourself and, hence, turn them into a non-repeating event. Your processes, systems, and expertise develop one mistake at a time. This is an on-going process, not a one-time thing. So you need to be doing this each and every day as a normal and consistent part of how you operate your businesses. You won't stay in business long if you hide your mistakes or blame them on your systems, processes, or others. Try being more aware of how you respond to your mistakes, and to what type of mistakes you are making in your business. Then set a goal to make your mistakes lower-risk (i.e., little) and more frequent. Let me know what you learn! Copyright 2004, Rose Hill, Inc
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