Delegating (not abdicating) P&L responsibility to your management team gives people ownership and accountability. They will think and behave more like business owners. My service department was spending several hundred euros every couple of months on rag cleaning....
My younger employees are not accustomed to taking notes in meetings. I told them that if they take notes and then come to me with a question, I can assume that they don’t understand something. If they don’t take notes, then I have to assume that a question is because...
As business owners, most of us wear multiple hats (Chief Everything Officer). Most likely, you don’t want it to always be this way. You need to be able to answer questions such as: where is your organisation today? Where do you want it to be? What is your role in your...
As a business owner, you are sometimes faced with failures (closing a location, hiring the wrong person, failed product launch, etc.) that shake your confidence. You also tend to take it personally since it’s a reflection of decisions you made. You have to accept that...
When you launch your business, the initial success is all about you, the business owner. However, growth also creates a need for more employees, which quickly tests your ability to lead people. Continued success soon becomes all about your ability to help your...
Low employee performance or poor attitude may not originate from a problem at work. Often employees bring emotional hardship or distress from their personal lives to work. A few moments of daily chit-chat, or a friendly inquiry about their weekend gives the (hopefully...
1. Have a plan and include your success team 2. Get turnover > €3m 3. Standardise as much as possible 4. Have a quality management team 5. Make profit consistently 6. Create recurring revenues 7. Generate barriers to entry 8. Achieve consistent growth 9. Create...
Try bench-marking your strategy against the following tests: 1. Do you have a meaningful competitive advantage? Is there something different about your offering v direct competitors, new sources of competition and potential new entrants ? Remember 'winners are...
My experience with a number of family businesses has led me to believe that it takes a very special parent-child relationship to achieve success. If you’re thinking of joining your parent’s business, there are some important questions to ask yourself before making a...
Many business owners equate branding with marketing. However, as Jeff Bezos founder of Amazon, once said, “Your brand is what people say about you when you’re not in the room.” Your brand is the totality of emotions held by the marketplace towards your distinct...
Discover more by finding your nearest TAB Board facilitator.