In almost every place in the world now, recession has been a well known problem. Most people are searching for an alternative income to be able to sustain their daily needs and their family as well. In my own point of view, it will be a big help and really much better if people will have their own business to grow and take care of. It does not necessarily mean that it needs to be a big business, a small business will do. Who knows that small business can be big someday? With hard work and perseverance, everything is possible.
When you build your own small business or start entering the entrepreneurship world, the best thing to start is what you love to do. I always believe that as long as you love what you do then you can be successful, because there is that certain motivation of doing your best in that field. You will not get bored or somehow feel frustrations because you love the business that you have, you love the concept of it.
Start investing in an amount that you can afford to lose. Im not saying that you have to think negative that you will just lose the business but then it will be better if you will think of all sides of it. You have to think of what will happen to you if the business goes ok or if it goes down. Think of the advantages and disadvantages. Everything the can happen to you business.
Starting from a small business and entrepreneurship can lead into a big bang business in the near future. Nothing to lose if you will try. You will definitely gain experience and knowledge that you can use in the long run.
For more Small Business information and Entrepreneurship visit the My SBCI Club Org.
Ignite Your Company's Intelligence: Hire Professional Managers
By Laurie Taylor
The second phone call came a week after the first. I had explained on the first call that we really weren't hiring right now. I was a bit surprised when I was told who was on the line. The thought that ran through my head was one of irritation -- now what?
By the time I hung up, I had agreed to a face-to-face meeting. They were going to be in the area next week as her husband was being transferred from New York to Denver and could she stop by?
That chance meeting led to one of the most strategic and beneficial hires I had ever made. In my office, she explained to me that we needed her. That she had followed our growth from a distance and even though creatively we were considered one of the best shops around, she could take us to that next level. She did.
As I reflect back on my hesitation in making this critical hire, in hindsight, I know I was worried about how I would handle someone that experienced. I think it's human nature to be a bit intimidated by someone who knows more than you do.
Stage 4, with 35 to 57 staff, is called the Professional Stage. (The 7 Stages of Growth identify the stages a company moves through as they add employees) This is the time you need to focus on hiring or promoting and training to get experienced managers who have been there, done that or who want to learn this valuable skill. Your company has outgrown your ability to keep all those balls in the air.
An experienced manager will come to the table understanding the need for operational processes and more importantly, how to implement them. They are experienced in how to handle the people side of your business. They can create and effectively manage project teams. They know how to budget, schedule and address client issues.
This is the time, as a leader, that you want to surround yourself with capable people who will share your vision, your passion and bring a different expertise to your company.
Stage 4 Leadership Rules of the Road 35 to 57 employees:
Rule #1: Hire or effectively train professional department managers who are responsible, accountable and proactive.
-- define clear roles and responsibilities for all department manager positions
-- meet weekly to support department manager's commitment to reach their goals
-- reward them when they demonstrate proactive signs of leadership
Rule #2: Create strong performance-driven department fiefdoms that compete with each other.
-- have each department establish clear, measurable goals and objectives that show up in performance reviews
-- have each department hold weekly meetings centered around key health indicators for their department
-- have each manager establish, get approved and manage their department's budget
Rule #3: Allocate 5 to 10% of gross revenues to identification, acquisition and implementation of new systems.
-- identify key systems required to sustain enterprise health and improved performance
-- research and acquire key systems
-- organize and execute the implementation of those key systems
Rule #4: Identify and set in place with management team the company's core master processes.
-- identify the top 10 to 15 master processes needed to create and sustain the company's health
-- design, document and refine those top 10 to 15 master processes
-- implement and make the necessary improvements to the top 10 to 15 master processes
Rule #5: Establish a strict company project management template.
-- research and design a clear, consistent process to manage internal projects
-- train all management staff on the project management template
-- communicate and train all staff on project management template
In every stage of growth, there are 3 Gates of Focus: revenue/profit, people and process. These three gates of growth help create a functional way to address every single issue that occurs within a company. For a Stage 4 company, the Process Gate is top priority.
When a company moves into Stage 4, establishing key processes that will provide you a foundation of growth is critical. Remember, the old adage that says if you have time to do it over again, you had time to do it right the first time.
If you ignore Stage 4 rules of the road, I'll guarantee you'll be gearing up for a do-over sooner than later!
And if you'd like to discover other ways to improve your company's bottom line and proactively manage your growth, visit and get ahead of your own growth curve.