You’ve probably know what you should do to make your business a success but do you know what you shouldn’t do? No one wants their business to fail or fall into financial difficulty so it’s important to ensure you avoid the traps before it’s too late. Following the five pointers below is a sure-fire way to put your company out of business.
1. Never change
If you’re unfamiliar with the term ‘change’, then you’re heading for trouble. With technology and consumer markets changing all the time, it’s crucial to keep up so you know exactly what your target market wants. This helps you stay one step ahead of competitors and ensures you plan for the future. Stay focused by keeping in mind business goals and strategies to ensure your business evolves. Ever heard of that saying, ‘failing to prepare is preparing to fail’?
Don’t forget to regularly update the company’s website, blogs, social media channels and overall design. If your website still looks like it did in 1999, then to many visitors, it will look outdated and off-putting, regardless of how great your products or services are.
Image credit courtesy of Athens Chen, designer at DigitalThirdCoast.net
Attracting and retaining key employees is essential to the success of an organization. When employees are working for organizations that give back, their sense of pride, trust and commitment strengthens. When employees feel valued and appreciated their dedication is enhanced with a wonderful influx of motivation which contributes to the vitality of the organization.
Here are 6 ways that businesses can invest in good employees.
1. Helping employees earn graduate degrees and MBAs
Olivet Nazarene University in Chicago offers a program where they will come to your office to fulfill certain program requirements onsite. “Our model is to offer our programs in a variety of settings that essentially take Olivet to the student. We partner with over 20 hospitals and numerous school districts to offer our nursing and education programs onsite at those locations. In addition to our offices in Bourbonnais, Oak Brook, and Rolling Meadows, we have classes running over 100 different locations in Chicagoland and throughout Illinois.”
I know from working with more than 4,000 new entrepreneurs over the past twenty-five years that when they come to us they all want to “be in business, not planning to be business”. There is an understandable impatience shown.
I know firsthand from planning my own three business launches the critical importance of step by step business planning, but I also know that few prospective entrepreneurs will take the time to complete a full-blown business school style business plan.
So, my team of coaches and I have reduced the business start-up process to just eight steps in our Start Your Business NOW! Start-Up School. Continue reading →
Improving and building team spirit is an essential part of business growth, more so for small enterprises. The main challenge to a business leader is to encourage the team members to bond, readily share relevant information and work together towards pushing the business brand forward. Small enterprises mostly do not have resources at their disposal to cover employee redundancy, therefore employees should be aptly encouraged to work together and market the company. The employees should readily engage in promoting and sharing of the company’s vision and mission. Continue reading →