For small business owners, what’s the biggest challenge when it comes to running an organization? It’s not innovating new ideas, developing creative marketing campaigns, or even selling products. The single biggest challenge is managing human capital. In other words, it comes down to hiring and leading the right people. (more…)
Finding the right management team is one of the most challenging aspects of running a business. With current unemployment rates, hiring managers and business owners frequently receive hundreds of replies for a single job advertisement, and it’s hard to identify which applicants will make the largest impact on the company long-term. Rather than hiring employees who have traditional experience, many find that by hiring an entrepreneur with start-up experience, they get the best results.
1) Entrepreneurs understand the importance of the bottom line.
From the very first day at a start-up, entrepreneurs are myopically focused on one thing: increasing the bottom line. They know that each expenditure must positively impact gross revenue while minimizing expenses. More than a traditional employee, entrepreneurs feel the pressure to maximize return on investment and to ensure that every day, their team is focused on creating results rather than looking busy or waiting for sales to walk in the door. This is the top reason to hire an entrepreneur. They are motivated to produce profitable results.
When it comes to keeping your company above water financially, every penny counts. There are many ways to save money on operating costs so that you may redirect funds to the most important aspects of your business or invest in the future growth of your business; however, many business owners may be unaware of the technologies that are easily available to the general public and can give their business the boost it needs. These four helpful tactics below have been proven to work in the current business landscape.
There is no reason that you have to pay the overhead for manual labor that you have to keep up with in a physical office. With virtual assistance, you can have the same administrative as well as operative power without dealing with the health care costs, maintenance expenses or the personal costs of hiring new employees.
It is also much easier to replace a virtual assistant that you do not like; there is no paperwork and there are companies with many VAs that will match you with their best until you find the right fit for your company.
Ohhh I loved my pillow. I used to travel with it all of the time when I was a kid. This week, while I was at the Los Angeles airport on my way to see clients in San Francisco, I saw this guy with the worst comb-over ever traveling with his own pillow. I was expecting him to whip out a juice box and maybe even his special blanky. He had made up his mind to travel in comfort.
So, how comfy are you in your business? I mean really comfy? I’m not sayin’ that you should convert your office into a day spa. I’m talking a little less chaos and less flying by the seat of your pants. On a scale of 1 to 10, how stressed are you when you come into the office? Believe me, I still have some of those days.
In the past year, I have worked with tons of entrepreneurs. Many of them aren’t comfy in one particular area – their team of employees, independent contractors, and even their vendors! They have the wrong people with the wrong skill sets in the wrong positions.