Focus On the Basics for Survival
Focus On the Basics for Survival
It is undisputed that your people are your most valuable asset. From efficient operations to new ideas for generating revenue, the contribution your employees make to your organization cannot be overlooked. Ideally, your staff is contributing positively to your company now. But don’t assume that they, and you, are functioning at the peak of your capabilities. This is the perfect time to invest in additional training. Whether it is broad staff development, like leadership or management skills, or something more technical, an investment in yourself and your employees will generate the best return.
Unfortunately, some employees may not be contributing positively to your business. You’ve worked with them, explained your expectations, offered training or some accommodation. But they’re just not on board. Don’t let a negative situation linger too long. These people are more of a drain on you and the rest of your team than it is worth. Help that employee find a better situation by moving them on. We prefer employees who self-select out. But if that doesn’t happen, you have to bite the bullet and let them go.
If you can redistribute the responsibilities of the departing employee to others, do so. Often times, necessity brings out creativity and you’ll find ways perform tasks more efficiently. If you need to re-hire, take your time, know what you need, and hire wisely. You’ve got an excellent opportunity to strengthen your company with a good hire.
I tell my clients, “Hire slowly. Fire quickly.”
The next area to focus on is your plan. We don’t need to discuss here why a written plan is so important, especially when the economic climate is challenging. I do want to emphasize how important it is to have specific and measurable performance objectives. Your plan must include a few targets for your key performance indicators. Key performance indicators are those statistics that best measure the health of your company. They could include revenue dollars per employee, widgets produced per hour, or cash available to pay bills.
Successful business management, and your ability to grow during challenging times, requires a familiarity with your numbers. You must have at your fingertips more than last month’s financial reports. You need the key performance targets and your progress toward attaining them. This information will give you the ability to make operational decisions and to evaluate the effectiveness of those decisions.
Put the quality and development of your staff and knowledge of your numbers at the top of your list of things to do during these economic times, and you’re odds of success will improve immensely.
Focus On the Basics for Survival - To learn more about this author, visit Bill Gschwind's Website.
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Most business owners know there is little room for error right now. So, with which areas of your business do you have to be especially careful?
It is undisputed that your people are your most valuable asset. From efficient operations to new ideas for generating revenue, the contribution your employees make to your organization cannot be overlooked. Ideally, your staff is contributing positively to your company now. But don’t assume that they, and you, are functioning at the peak of your capabilities. This is the perfect time to invest in additional training. Whether it is broad staff development, like leadership or management skills, or something more technical, an investment in yourself and your employees will generate the best return.
Unfortunately, some employees may not be contributing positively to your business. You’ve worked with them, explained your expectations, offered training or some accommodation. But they’re just not on board. Don’t let a negative situation linger too long. These people are more of a drain on you and the rest of your team than it is worth. Help that employee find a better situation by moving them on. We prefer employees who self-select out. But if that doesn’t happen, you have to bite the bullet and let them go.
If you can redistribute the responsibilities of the departing employee to others, do so. Often times, necessity brings out creativity and you’ll find ways perform tasks more efficiently. If you need to re-hire, take your time, know what you need, and hire wisely. You’ve got an excellent opportunity to strengthen your company with a good hire.
I tell my clients, “Hire slowly. Fire quickly.”
The next area to focus on is your plan. We don’t need to discuss here why a written plan is so important, especially when the economic climate is challenging. I do want to emphasize how important it is to have specific and measurable performance objectives. Your plan must include a few targets for your key performance indicators. Key performance indicators are those statistics that best measure the health of your company. They could include revenue dollars per employee, widgets produced per hour, or cash available to pay bills.
Successful business management, and your ability to grow during challenging times, requires a familiarity with your numbers. You must have at your fingertips more than last month’s financial reports. You need the key performance targets and your progress toward attaining them. This information will give you the ability to make operational decisions and to evaluate the effectiveness of those decisions.
Put the quality and development of your staff and knowledge of your numbers at the top of your list of things to do during these economic times, and you’re odds of success will improve immensely.
Focus On the Basics for Survival - To learn more about this author, visit Bill Gschwind's Website.
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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