Businesses often get lost in the day to day routine of operations. We get mired in the endless details that we think must be accomplished. It gets confusing and leads to sluggishness and inefficiency. When you are overwhelmed by minutiae, red tape and rules, read over these basic business concepts. It will help you understand what is important and essential to your business operations.
Always pass increased taxes and fees on to your customers, if you don’t, or can’t, you won’t be in business much longer.
Hire for the personality, train for the skills
Your business is a stage, everything is perfect there. Put on your happy face when you walk in the door
(Slogans, Logos, Names, Advertising)
Don’t make rules for the good based on the faults of the bad.
Have as few “Standard Policies” as possible. For those few that you do have, be sure:
They are really needed and valuable
They don’t punish the 80% because of the 20%. ( reference Paredo’s Law)
They aren’t seen as totally inflexible. There is no policy that can’t be re-examined if necessary
Don’t begrudge people for using a discount or coupon that you publish. If you don’t want to give a discount, don’t offer one.
One of Tom Peter’s best managing tips. MBWA. Managing By Walking Around. If you don’t know what’s going on in your business, you can’t manage effectively. Don’t wall yourself off inside an office. If you have some time when you’re not busy, MBWA, you’ll be surprised by what you learn and the effects on the employees.
To properly lead, you must appeal to one’s emotions as well as their intellect. Lead bottom up, (appeal to emotions) and top down, (appeal to intellect).
The Three Qualities of a Successful Business
Good Customer Service
The Ability to Create New Goods and Services
The last is one of the most important. Without the energy, stimulation and growth provided by new product development, the business will stagnate and fail.