Small businesses face a unique set of challenges when it comes to dealing with a crisis. It’s important for owners to be proactive and take preparatory steps. The following tips will help small businesses prepare for and manage a crisis. Develop a crisis management plan: Small businesses should develop a crisis management plan that outlines
A non-disclosure agreement (also known as an NDA) is a contract between two parties which outlines confidential information that one party wishes to protect and keep confidential from the other. There are many benefits associated with using an NDA, and in this article, we will discuss some of them. First and foremost, an NDA helps
Strategic drivers of business are forces, both internal and external, that shape an organization’s business strategy. Strategies that fail to adapt to forces such as technological change, competition and regulations are recipes for disaster. By no means comprehensive, below we discuss eight such drivers, to set you on the right path: Organizational Effectiveness: Does the company
Many people who start their own business do not realize how much work and time will be involved. They fail to carry out any primary research and as a result become quickly overwhelmed. Perhaps the first question to ask yourself then is whether you are in fact ready to start your own business. Do you
“Excellence is never an accident; it is always the result of high intention, sincere effort, intelligent direction, skillful execution and the vision to see obstacles as opportunities.” The above anonymous quote was displayed prominently in an office, where, oddly enough, it seemed to attract very little attention. In any case, it has made enough of
Capable leadership is one of the most important traits of a successful business owner, manager or executive. However, different circumstances call for different management styles. This article discusses four basic types: Directive, Participative, Laissez-faire and Adaptive. Directive: This is the perhaps the oldest form and is relatively autocratic. Someone using a directive style tells people
In the past several years, business coaching has gone beyond a luxury reserved for Corporate America’s executives to an invaluable tool for small business owners. Yet many small business owners are still unclear on the difference between a business coach and a business consultant. The difference is as simple as the old expression “give a
For many Manufacturing, Trades and Tech Companies labor is the single largest expense item in their operation. Labor costs are often the difference between profit and loss and the quality of life the business owner will enjoy. Here we talk about some ways to reduce labor costs. First, it is absolutely imperative that
Nothing ever stays the same. On the one hand we despise change yet on the other we don’t want to stagnate and become boring. Yet our habits keep us locked into a course of action day after day, year after year. The way we think, the way we behave, the way we experience things, the
You probably know the myth of innovation as a sudden flash of insight that comes from nowhere. We read about that “aha” moment, or that light bulb turning on in the mind of some inventor or innovator, and this is true to an extent. Einstein really did get flashes of insight while shaving in the
