Ergonomics is the science of fitting job tasks, equipment, tools, and the work environment to workers’ needs. By creating a more ergonomic work environment, businesses can not only reduce the chances that an employee will be injured on the job, but they can also improve employee productivity and morale. Why wait until you have a …
Whether closing a sale, haggling over a price with a supplier, or discussing a raise with an employee, business owners negotiate nearly every day. While you may already be an effective negotiator, consider the following strategies to help maximize your negotiating skills. Negotiating does not have to be a zero-sum game. When two parties enter …
Entrepreneurs who are starting a new business or expanding an established business are often advised to look to family members or friends when seeking financing for their venture. After all, who is more likely to have confidence in your ability to succeed and in your ability to turn a profit on their investment than the …
Asking Family or Friends to Invest in Your Business Read More »
One of the more difficult challenges facing a small business owner is the formulation of a viable and economically beneficial exit strategy at retirement. Typically, the main goals of such an exit strategy are to identify a qualified buyer and ultimately receive fair compensation for the business, which would, in turn, translate into a desirable …
The business landscape is continually changing—technological advances, corporate downsizing, restructuring, and telecommuting have reshaped the marketplace. Although these improvements and modifications have a great impact on our working environment, perhaps the most notable trend has been the rapid growth in the number of women-owned businesses. According to the Center for Women’s Business Research (2012), three …
Small businesses owners should conduct an annual assessment of their personal finances. Owners of small businesses have much the same concerns as everyone else, except they are personally responsible for the fortunes of their enterprise. In a sense, a small business is like a family. And these are important families in American economic life. After …
After over a million employee interviews and testing hundreds of questions, Buckingham and Coffman found 12 questions that can be used in employee surveys to predict whether a department or an entire company is realizing its potential with regard to productivity, profit, retention, and customer service. Those questions, as posed in the book, are: Do …
First, Break All the Rules—What the World’s Greatest Managers Do Differently Read More »
One of the key components of a business succession plan is a carefully crafted buy-sell agreement. A buy-sell agreement is a contract designed to facilitate the transition of the business should the owner die unexpectedly or sustain a disability. Its primary functions include the following: 1. Creating a market for a deceased owner’s business interest. …