Staying Organized and On Point

I don’t have a system to keep organized. Over the years I have tried lots of different ways to stay organized but none of them stick. I feel as if I’m wasting time and losing out on opportunities when I become disorganized. How can I stay on point, increase my efficiency and do a better job of tracking things?

 

THOUGHTS OF THE DAY: Do an assessment of the tools you rely on to keep yourself organized. Do one thing, do it well, then move on. Allow your brain time away. Prioritize based on goals. Recognize the role stress plays in disorganization.

Continue reading

Share

Keeping Partners in Line

I have a partner who is in denial about our cash situation, which right now is tight and likely to get worse before it gets better. Unfortunately my partner’s not willing to make adjustments, even though I’ve tried to explain that we don’t have the money to pay ourselves as much as we used to. What should I do?

THOUGHTS OF THE DAY: Your job as an owner is to protect the company’s well-being — for now and for the future. Figure out who can make the decisions, and under what conditions. Figure out your bottom line before you go into a negotiation. Know how tough you’re willing to be — and then double it.

Continue reading

Share

Growing Revenue and Sustaining It

Our company is facing a growth hurdle: We’ve never averaged the level of sales / day that we have an opportunity to do this year. Worrying if I’m trying to take on too much, while excited about the opportunity for so much growth. How do I best steer my company through this challenge?

Thoughts of the Day:  Avoid the trap that too many businesses experience: up and down growth due to taking on work they cannot sustain. Be mindful of the gifts the economy will, or won’t throw your way. Plan out growth in stages.

Continue reading

Share

Personal Issues on Business Time

We have been struggling with personal issues at work. For me, it’s a family illness. For one of my key employees it’s a relationship that’s not going so well. Another employee is facing financial difficulties. And a third has her head in the clouds, planning a wedding. It all seems to be ganging up on us. As the owner, I know I’m responsible for keeping things at work on track. I’m looking for advice on the right approach. I know this is how life goes sometimes, but I’m worried about the toll it might take on the business. Where do I draw the line?

Thoughts of the Day: Life intrudes, often at the most inconvenient times. Realistically assess what each employee needs in the way of relief or support. Be careful about setting precedents you can live with. Invite people to participate in groups. Know when you have to step in and do something.

Continue reading

Share

Doing the Deal

A colleague asked if I was interested in buying her company. My curiosity is piqued, but I’m not sure. She says she wants to keep working to help insure a successful transition, and to have income for the next few years. While I’d be open to doing an acquisition, I’m also worried: If she came to work for us what opportunity is there for her to make a living? My gut says she’s considering selling because she can’t make enough money on her own. I don’t want to solve her need for income and leave my company on the short end of the stick. Suggestions?

Thoughts of the Day: Make sure you know what this business does for your company. Negotiate until you’re both clear as to the role can the seller will play in your company. Think about how easy or difficult it would be to take on the business. Can you make money by doing the deal?

Continue reading

Share