KEY GUIDELINES IN SELLING A BUSINESS (PART 1) Many business owners eventually decide to sell their companies, though the reasons for such divestment vary widely from individual to individual. Some owners may simply wish to retire, while others are impatient to investigate new challenges – whether in business or some […]
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FUNDAMENTALS OF WORKPLACE PRIVACY Employee privacy issues have surged to the forefront of the business press in recent years, spurred by the changing workplace dynamics and a litigation-conscious business environment. Observers say that advances in telecommunication, coupled with heightened concerns about vulnerability to litigation, have exacerbated management concerns about monitoring […]
EMPLOYEE LEASING PROGRAMS Employee leasing programs are arrangements in which businesses lease their employees through an outside contractor that attends to the various personnel-related activities commonly associated with human resources management. Employee leasing programs have become particularly popular among small- and mid-sized companies, who view leasing as: a viable option […]
RESTAURANT BUSINESS: HOW TO OUTSELL YOUR COMPETITORS Restaurant business is one of those businesses many people feel they can manage successfully. In most cases, success or failure here often reminds one that it is a business that must combine two things: (1) Your idea and skill concerning which food and […]
REWARDING EXCEPTIONAL PERFORMANCE Staff members are paid for the work they do, but many employers have incentive schemes for exceptional performance. When considering these as an option, work out what constitutes expected performance, and plan a sliding scale for anything above it. Defining Exceptional Performance The term “exceptional performance” […]
HOW TO SUCCEED AT A TRULY SEASONAL BUSINESS In a business that is truly driven by the seasons, there are steps that can be taken to ensure greater success. The two most important factors are managing cash flow and hiring the right employees. Finding and keeping good employees is another […]
WHY COMPANY VISION AND VALUES ARE IMPORTANT Vision Every great company begins with the entrepreneur’s vision of what that company will become. Just as top professional athletes envision everyday play of an upcoming game before they ever set foot on the playing field, so do entrepreneurs envision the kind of […]
HOW TO BECOME A SOCIALLY RESPONSIBLE COMPANY Today, it is not enough to have a successful business and make a profit. The business must hold itself to a higher standard of social responsibility by giving something back to the community or communities in which it does business, and through them, […]
HOW A COMPANY CAN GROW BY GOING GLOBAL Today the question for a growth-oriented company is not “Should we go global? But “when should we go global?” There are many reasons why entrepreneurs must consider the global market even as early as the development of their original business plan. For […]
GATHERING COMPETITIVE INTELLIGENCE One of the weakest portions of any feasibility analysis or business plan is the competitive analysis. This is because an entrepreneur typically looks only at what can easily be seen on the surface rather than digging for what is not so obvious. It is important for entrepreneurs […]
