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As a business owner, you know what it’s like to lie awake at 2 a.m. Maybe it has happened when you are excited and full of new ideas for your business. More often, it’s because you are worried about issues you will face the next day. Sometimes, it’s because you just woke up with the solution to a problem. I’ve experienced all those emotions about my businesses over the years. Awake at 2 o’clock? is where I share them with you, and hopefully help with answers that will let you sleep.
John F. Dini, CExP, CEPA
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Small business owners are the Hunters of the 21st century. We are 3% of the US population, and yet we create over half of all American jobs. As Hunters, we may not be inclined to manage by the numbers or stick to systems. Are you a Hunter or a Farmer?
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How prepared are you to exit your company?
The Assessment breaks down the four major categories of exit readiness; Finance, Planning, Operations and Revenue/Profit.
Tag Archives: employee performance
You Only have Two Hands…or not.
To paraphrase an old New Yorker cartoon “I love being self employed. You can set your own hours, as long as you don’t mind working 24 each day.” Many owners find themselves “too busy” running a company to concentrate on the longer term … Continue reading
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Empowerment Requires Encouragement
We all want employees who are empowered to think. That doesn’t always turn out the way we hoped. Last week the news feeds carried a story about a Girl Scout in San Francisco who set up her cookie table in front … Continue reading
2 Responses to Empowerment Requires Encouragement
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Hi John,
I think few business owners would call micromanagement a good thing, if you put it in those terms. The trouble is finding the balance between delegation that keeps your business strong and creates a product you can continue to be proud of and realizing that all of this does require some amount of letting go. I’ve left this comment over in the BizSugar community as well where Christi Brendlinger was good enough to share this post. Wonder if you or she or both could share some guidelines with our community about exactly how you go about striking this difficult balance.
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When a Salesman isn’t a Salesman
A business owner decides to beef up his company’s sales talent. He forks out a hefty salary for a “proven performer” from another industry; then…nothing. The salesman (or woman) is glib, professional and hard working. The owner devotes more resources … Continue reading
2 Responses to When a Salesman isn’t a Salesman
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Excellent article and very true.
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The days of the order-taking IBM salesperson of the 1980’s are long gone. While sales people can and should be well compensated, the majority of it should never be because of a hefty salary. Sales compensation may need to take into account a spin-up period, but most of the compensation should be commission or profit sharing, not salary. Order taking can be done by computers or employees in Accounting.
David Basri
http://www.pointent.com
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Four Generations’ Embrace of Technology
Technology is pervasive in the workplace. That isn’t a news flash; it’s just reality. When we have an IT or Internet malfunction, my employees are probably less than 20% as effective without their computers. They will catch up on some … Continue reading
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Employee “Rights” in the Workplace
The 14th Amendment to the Constitution of the United States, the “Due Process” amendment, is one of the most-litigated sections of that document. It is also the only one that specifically abrogates rights, broadly removing the right to vote or hold … Continue reading
John,
Great post!
I love the simple math of the leverage you are illustrating. It should get the attention of owners who look at expenses not revenue (and usually liabilities not assets!).
I would suggest a post on how many forms of leverage you can generate as an owner. If your assistant frees you up for a 1-hour lunch that generates $16,000 in revenue, wouldn’t that be a 400X multiplier? (16000/400 (you)x400/40)(her). The $40 you spent for him/her resulted in a $16,000 yield. Or, the time leverage multiple that allowed you to write a book that produces residual income for years?