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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: management
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
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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
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Employee Retention: From Thirty Years to Two
The United States has never been known for permanent employment. The flexibility of our job market, the ability of employers to hire the employees need and fire those they don’t, has always been considered by economists to be a core attribute … Continue reading
2 Responses to Employee Retention: From Thirty Years to Two
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John,
Thanks for the article, I am a “baby boomer” and agree totally! I was laid off after 6.5 years and after a year of being a ” you are too qualified for the position”, I decided to do something I could enjoy, and taught myself how to become a wholesale/retail Chocolatier! I have 4 years in the “business” and am finally growing and have learned a lot the hard way and I am more unique and happy. I do have 2 part time assistants that I feel will work,learn,grow with my company…but nothing is permanent so each day is a new door that I can open and enjoy the challenge. Thanks again!
Cathy -
Good blog, John. Per studies, money is well down the list of reasons for employee retention. If I’m not mistaken the employees relationship with their direct manager is #1, followed by other factors such as company culture, ability to learn, their passion for the company mission, etc. So retention boils down to doing some tough work around making your workplace an appealing place to come every day, rather a place to dread. That’s not as easy as it sounds, for a small business person who focuses on meeting his payroll.
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Should a Small Business Have a Budget?
“I know that my company is doing OK,” the old joke goes. “I still have checks in my checkbook.” Many small businesses run on a version of checkbook accounting, where anything that isn’t paid out at the end of the … Continue reading
4 Responses to Should a Small Business Have a Budget?
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I found in my consulting practice that the small businesses that have the discipline to create a budget also have the discipline to manage their business well. It is a way to the business perspective to pro-active instead of reactive.
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Extremely important if a business offers healthcare to employees. “Life changing events” include a spouse who loses coverage and now enrolls in your family plan.
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I agree, every small business must have a specific budget for their marketing campaigns. A successful business always start from planning to budgeting, to planning and implementation.
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In every business there should always be a budget.
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Employment as Video Game
In a recent survey of 20-something employees, the majority said that they expected a promotion in the workplace at least every two years. Most surprising to business owners, however, was that they did not believe that such advancement should be … Continue reading
One Response to Employment as Video Game
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Great points John. I have seen some significant software trends dealing with “gamification” of business process control systems to address this specific subject. “RedCritter Connector” is a notable example of this.
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.
It’s a great question, Heather. I think there may only be a state of imbalance. Either you are giving employees too much leeway, and suffering the occasional setback because of it, or you are trying to avoid the setbacks, and reining them in. The “balance” lies in determining how much of a mistake a company can afford in the name of learning.