Can Entrepreneurs Delegate?
Oftentimes entrepreneurs are hesitant to delegate tasks to others in their organization even when they are overworked and less effective because they do not. This resistance may go hand in hand with the typical entrepreneurial personality. Traits like the inability to relinquish control, a sense of urgency, an analytical nature, and being results-oriented may explain […]
Looking for Good Employees?
Finding the right employees is a very important part of owning a business. More and more business owners say that they face. Before trying to find employees, the employer should have a detailed job description along with interview questions. If possible, the interview questions should be prepared by someone who has performed the tasks that […]
Ten Mistakes that Sabotage Business Success
As a business consultant I have seen many businesses struggling because they had made very basic and avoidable mistakes. Here is my list of ten mistakes to avoid. They are not in order of importance since any one of them can have serious consequences for the business. Failure to Plan. This one pertains not only […]
Exit Strategies Take Time and Planning
Most business owners want to sell their business at some point. Unfortunately most fail to plan effectively for this eventuality. In many cases owners cannot find a good buyer and end up liquidating their business for only the value of the assets. Prepping a business to sell for a premium price takes a significant amount […]
Making and Managing Profits
Small business owners start a business with the goal of making a profit using the premise that by increasing sales, profits will increase. While this is true to a point, there are incidents where businesses have increased sales to the point where they are operating at a loss. There could be many reasons for this […]
Management Problems in Family Owned Businesses
The Cox Family Enterprise Center at Kennesaw State University publishes the following set of 10 facts about family owned businesses: 80% of the world’s businesses are family owned. In the past five years, Americans have started mare than 3 million family businesses. Family-run businesses account for half of the nation’s gross domestic product. Nearly 35% […]
Strategic Alliances Can Pay Dividends for Georgia’s Small Businesses
Strategic alliances have been commonplace for many in the corporate arena for a long time but it also becoming a staple for small businesses around the nation and Georgia as well. Small companies are seeing benefits in joining forces to provide products and services in a more efficient and profitable manner, often teaming up to […]
The Business “Map:” Don’t Leave Home Without It!
Not many of us would study an atlas, get in our car, and head out for Chicken, Alaska, without a map, relying solely on our memory to remember all the route changes. Yet that is the equivalent of what many businesses do when “driving” their businesses. The result is usually the same for both the […]