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
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
Here’s an interesting notion: Do you realize that there are mistakes you can make at various stages of your business’ growth that can be slowly killing it for months or even years if you don’t watch for them? Well, these mistakes do exist, and they are not just reserved for the rookie companies. Many working
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
What Are Impulse Buys? We most commonly associate impulse buying in the traditional retail setting. Typically, impulse items are those small pieces of merchandise that crowd the retail sales check out area and aisle ways. They include candy bars, batteries, magazines, salty snacks, cold soda pops and other beverages, and other assorted items. These
The Covid-19 pandemic forced many small businesses to become resourceful and innovative about how they conducted business. While we are all still on the road to recovery, some of the hybrid business models used to adapt that came from necessity may be here to stay. Below are four ways small businesses adapted in response to
You may know Mark Cuban as the Owner of the Mavericks, perhaps your exposure to him may be as a technology company billionaire, or you may be more familiar with him as an investor on the hit show Shark Tank, where entrepreneurs pitch their business ideas to a panel of investors in an attempt to
Problem solving and decision-making are key roles in any business. However, many people often try to solve problems and make decisions by reacting to them before they fully understand all the possible factors. They feel that the quickness of a decision is more important than the long-term outcome. There are times when a quick decision
Building business credit plays a crucial role in your company’s funding ability. Except for Sole Proprietorships, which operate without any legal or financial distinction between the owner and his /her company, your business has the ability to establish its own credit file, separate from you as an individual. It should build it, protect it
There are many similarities between an LLP (Limited Liability Partnership) and an LLC (Limited Liability Company). However, there are a few key differences one needs to examine in making a choice between registering a company as one or the other. State laws vary and it is possible that your type of business is restricted (between
