19 May

The Inevitable Business Exit; it WILL Happen. Plan For It.

 

All businesses experience a change in leadership or ownership.  All small business realizes this reality at least once.  Whether your transfer or sell your business you will inevitably exit it.  To exit your business in a way that is most favorable to you will involve more than you and you need a Business Exit Plan to make that change successful.   It will take multiple parties, different providers, to give you and your business the best outcome from your inevitable exit.  So what should you do and who should you involve?  Further, when is the best time to start the exit process?  When should you have an Exit Plan?

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12 May

Sustainable Success is Like Eating an Elephant

We’ve all heard the question; how do you eat an elephant?  The answer, one bite at a time.  Achieving success takes the same approach.  You do things, one step at a time, and if all goes well, you have success.  These steps, some call them behaviors are a big part of being successful in business.  They will apply whether you are the owner, an executive, a manager or someone who aspires to grow professionally.  What are they?

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05 May

A Positive Business Outcome is From Positive Performance – it’s All in the Feedback

Much is said about having a high performing business.  Many will bring you data, numbers, and models that they claim will make your workforce and your business high performing.  However, none of those will work if your workforce doesn’t know how it is performing.  You can have great equipment, a wonderful cutting-edge product and a state of the art facility with which to produce or provide your product or service.  None of that will matter if your workforce isn’t performing the best it can.  It’s all in the feedback.

Building a positive high performing business, regardless of whose method you choose to use all starts with ensuring that workforce is given value-added performance feedback.  Research has consistently shown that workers who get feedback on their performance are twice as likely, and sometimes more, to have higher engagement and as a result higher productivity.  Further, their performance improves which then drives success, sustainable success, for the business.  Conversely, employees who don’t receive feedback experience lower levels of commitment to the organization and productivity declines.  These employees, especially those with potential, tend to leave your business and go to your competitors.

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