Over a decade later, these five points are still an issue with small business owners in their assumptions being made with technology as a form of exposure in their business.
There are four reasons a commodity mindset occurs in business, and in every instance, these reasons should be viewed as warning signs that it’s time for a strategic re-focus
The key to good decision-making is being in the right mindset. Too often decisions are made from uninformed or misguided thinking, resulting in a "wish I would have known then what I know now."
What does it take to excel in business today? A key area in which a business can excel against competitors, regardless of industry, is through customer service. Making it a focus to serve customers better than anyone else is becoming more and more of a priority for savvy businesses that understand what a dismal job their industry is doing as a whole. Truly exceptional businesses take this mindset to an even higher level, by focusing on not just serving their customers, but engaging them at...
Part I of II - As we near the end of another year, midway through fourth quarter in a calendar fiscal year, how are you feeling about your business as a whole? How are you feeling about your business strategy and where it is leading your company? Is it not reaping the results you had hoped? Do you even have a strategy in place or are you taking it day by day hoping what you throw out there works? If you think a strategy is merely trying various tactical things, it is time to graduate your...
Part I of II - In working with and observing entrepreneurs over 30 years, I have identified limiting mindsets that can have a direct impact on business owners' ability to grow their businesses. These mindsets either fall into the category of Wishful Thinking or Fearful Thinking. When it comes to Wishful Thinking, the best way to describe it is that you find yourself saying something along the lines of "If only I had more …" Are any of these Wishful Thinking detractors ones you have said...
A small business is a boot-strapping business in the beginning. Anything that can be done without huge expense or investment is the underlying motivation in order to realize a profit sooner rather than later. The problem with many business owners' mindsets is that they are more focused on curtailing spending as opposed to making wise investments of their time, resources and money. Could one of these five misguided mindsets be causing more harm than good in your business? 1. Friends & Family...
Nothing can be more frustrating for a business owner than to put immense time, energy and effort into building a business, only to realize that the effort is not paying off. Not only are the results desired not occurring, but the results garnered are heading the business in an undesirable direction, in spite of what was believed to be the right course of action. In working with small businesses through the years, I have noticed missteps that lead them down a misguided path, even though the...
Whether you are in a start-up mode or have been conducting business on your own for years, knowing where your business is headed is critical to your future well being as well as the livelihood of others who may be depending on the success of your venture. This is why strategy is so important in a business, starting with the long-term vision of your venture in order to make better decisions and to identify and pursue opportunities effectively. While some of what I write here will seem basic to a...
Entrepreneurs, business owners, and top executives, for the most part, are workaholics. But is this necessary to succeed? Part of the reason for this is the passion they have for their enterprise. The other reason, too often, is because they believe the enterprise would not or could not keep running without their involvement. When employees are in the mix, the work ethic of owners or managers can either inspire productivity in others by their example or cause unintentional side effects that...