How do you keep employees, shareholders, customers, suppliers and the local community all happy at the same time in a business?
Its a juggling act that all business owners will be well aware of.
Drawing inspiration from Riding the Waves of Culture by Fons Trompenaars, I’ve compiled the 10 Golden Dilemmas in Business
Either motivate employees and reward staff.
Or satisfy shareholders with profit.
What is the main purpose for you being in business? Is it clear or do you have to think hard?
How about taking away all the unnecessary “stuff” you do and stripping the business back to the bare minimum?
What is it your business stands for?
Have you been through the pain of putting a company into receivership? It leaves an indelible mark on employees, shareholders, suppliers, customers not to mention the indirect effect on families and the local community.
Five months I worked for Praxis Tailoring in 2000 before recommending, as Finance Director, we call in the receivers. Six months before my first child, was due.
Well there was a fresh… Continue reading →
It’s lonely being the business owner. Everyone looks to you for all the answers. You need to be some kind of superhero to keep everyone happy.
But even superheros had help. Maybe the help you need is a young Robin?
If you create a sense of aura around the workplace, you’ll attract young & enthusiastic people who want to work for you.
Out of this pool of talent… Continue reading →
A business plan can appear a daunting prospect when you are seeking support or additional funding.
Don’t get hung up with the numbers – they shouldn’t appear in the business plan, but rather in the financial forecast.
The business plan is for you to tell your story in a structured way, the financial forecast is to tell the same story in numbers. Think beyond the numbers.
The business plan is… Continue reading →
As a small business owner, you have to be a jack of all trades but master of none. You have to deal with most of the issues that larger businesses face but without the range of staff to delegate to. True your volumes may be lower but the risks you face are undoubtedly a lot higher.
The temptation may be to employ more staff to help out. However are you… Continue reading →