3) Top Ten Things: ( Approximately 100 - 200 words)
Please indicate the topic for which you are providing content. For any of the suggested lists below, please identify - "WHAT" you recommend and then a few points related to "WHY" it is important and a few suggestions as to "HOW" it might be done.
- to succeed in business
- to face your competition
- to succeed in a global marketplace
- to improve cash flow
- to manage inventory
- to maximize profitability
- to find and retain great staff
- to improve working environment and relationships
- to master technology
- to deliver excellent customer service
- to improve efficiency
- to increase sales
- to better networking
DO YOU HAVE ANY OTHER SUGGESTIONS FOR A TOP TEN LIST? (Add your post!)
Thank you to Canadian author Frances McGuckin for this list, found in her National Best Selling book Business for Beginners.
TEN TIPS FOR BORROWING
1. Don’t approach a lender for "working capital." Loans are usually given for tangible assets that can be secured.
2. Don’t expect a lender to finance your whole venture. The owner is expected to invest money, at least one-third of the start-up cost.
3. When you call for an appointment, ask what information will be needed so you are well prepared.
4. Dress smartly. Jeans and sneakers are out. Don’t chew gum.
5. Research the various government-funded grants and loans before deciding on a lender.
6. Have an experienced third party critique your business plan before presenting it to a lender. 7. Have the approval of your spouse or partner before committing to financial obligations.
8. If you are initially turned down, take the lender’s advice and rework your plan.
9. Discuss with your accountant whom you should approach for money and what type of loan may best suit your requirements.
10. In your interview, be a good listener. Don’t try to hold the floor and convince the lender how great you are. He or she can tell this by your manner, presentation and business plan. Used with permission of the author.
For more information regarding Frances McGuckin visit her Website at: www.smallbizpro.com
TO FIND AND RETAIN GOOD STAFF:
ReplyDeleteKnow what competencies (KSAs = knowledge, skills and attitudes) you need in employees and screen accordingly. "Hire for attitude, train for skill" holds true. Be prepared to invest in work-related training and development since this is key to engagement, competence and retention.
Additionally, provide employees with regular feedback (don't wait until the annual performance review), both positive and constructive. The "millenials" or the "nexters" generation of employees expects continuous learning, growing, mentoring and ongoing feedback or they won't stay in an organization long (they may not anyway as their shelf life as an employee is typically 2 years max).
Research has historically shown that money doesn't motivate employees, but not paying wages in line with the current labour market value will cause dissatisfaction and increase turnover. Praise, challenging work, and training and development opportunities (strategically aligned yet employee-chosen where possible) will support employee loyalty.