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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: employees
Another small business owner defrauded
I’ll be in Denver, sharpening my saw all weekend at the semi-annual conference of The Alternative Board®, so I’m posting early this week. I had an evening call from a client last night. He recently discovered fraud in a small … Continue reading
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Stoplight 360
I recently saw a fast and easy way to rate your employees that makes the high performers and low performers stand out in a way that can’t be ignored. It uses Stop light Methodology: a red-yellow-green marking system. The advantage … Continue reading
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The Ghost of Ebenezer
Last week three of my clients implemented staff reductions. All three are financially healthy service companies, but they had far more capacity than they had work to fill it. In a service company, of course, capacity means people. Naturally there … Continue reading
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Gifts are not incentives, and incentives shouldn’t be gifts
I knew a couple who owned a company with about 20 employees who had what may be the worst incentive distribution plan I’ve ever seen. The company gave out large holiday bonuses every year at the company party, which was … Continue reading
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A 35K guy is a 35K guy…
I had breakfast with a client this morning. He was planning a new training initiative for his sales team. “How much do the make now?” I asked. “About $30,000 to $35,000 a year.” he replied. “What are you trying to … Continue reading
2 Responses to A 35K guy is a 35K guy…
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John- Hope you and the family are well! I love what you wrote and it is absolutely true.
I recently promoted someone to “take over” running the parties for my business which as a caterer, is a pretty significant move for me and for “him.” I am sharing 30% of the net from each party plus he receives pay for the party as well (about $120 bucks for each party). I have asked him to pursue bringing in business as well. He will receive an additional bonus for each gig he brings in. I can see that is where he will fall short, unable, uninterested or uncomfortable going out and selling. I think I offered way too much between the 30% and salary and now the incentive of an additional bonus isn’t really having an effect because he is making enough and certainly more than he has made before.
I can’t afford to bring a salesperson in to this small business, that means it still falls on my shoulders.
John, Merry Christmas! I continue to appreciate your insights into small business ownership and the disease of entrepreneurship. It is true that many of us struggle as business owners at this time of the year, missing the target and the meaning of the Season.
Thanks for your continued friendship, and all the best for the New Year!
Brad Elmhorst
Direct Hit Data, Inc.
Great post John. Sounds like our family business over the past 40 years! Your post definately opened my eyes and got me to re-think our holiday party and bonus program for tomorrow night!