Most of small business owners have a plan or at least a thought of expectation that one day their children will join and later continue the family business. Still, it is not that simple. Very often, children are not interested in taking over your business or becoming a part of it. They are attracted to completely different kind of profession. These situations may cause conflicts and disappointments. Sometimes even a deeper family issues and misunderstanding. The only way to face this problem is to accept the wishes and aspirations of your successor and respect his/her strength. Your children are actually following your example! They want to make their own start and success. The sooner you are able to appreciate that, the situation will become more easy to handle with. Read more »
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 Kind Ambition Americans like their extremes. From extreme sports to extreme make-overs, there’s something about pushing to the extreme that entices us. It’s almost as if something “measured” or “centrist” gets branded as wimpy or not taking a stand. We raise the threshold to a point where the joy of our normal lives can’t compete with what’s on television or the media’s quick-cut-edited versions of life. This seeps into our emotional tastes as well. People don’t see their everyday lives and relationships as “exciting enough,” so they add drama to ramp things up. This never improves real lives, and usually has a downside. In the real world, everything is gradients and degrees. Nothing is Always. Everything is Sometimes. All or nothing is an exciting, extreme that sells products, gets people jazzed, and increases your stress level. If there’s anything we need to do these days for our health and well being, it’s to lower that stress level, and stress is a function of extreme perspectives. All or nothing is life or death. This is flight or fight adrenaline stimulation at its subtlest. Try this yourself. You’ll feel much more stress saying “I’ll never find a job,” than you will saying, “I wonder if today I’ll find a job?” You’ll feel much more stress saying, “I never get what I want,” than saying, “maybe I’ll do better next time.” Extremes are all about creating life or death adrenaline, and that isn’t a good position for long-term decision-making. Read more »
Family company is not necessarily run by members of one family. It can be owned by unmarried couples or friends. There are also small businesses which are ownership of two families, of two individuals whose relatives become employees. In these cases it is very important to document your business relationship in a formal business-partnership agreement. The document should include duration of the agreement, partners’ capital contribution expectations, and divisions of profits and losses. Read more » In the past few years, companies have been increasingly enjoying the business benefits of online social networking. Internal social networks using existing social media tools are becoming more present within companies and are, among other benefits, offering an improvement in employee communication. Small business owners have to follow the latest trends and filter those that can be used as tools to increase effectiveness and maintain profitability. Internal social networking is one trend that has been adopted in the past couple of years, first by the large companies and then the smaller ones. Read more » There are several strategies to build a better company and increase its value. The overall value of a business is generally determined as a function of your earning and financial position and the inherent strength of your business. It is a common issue that two businesses with similar financial profiles are for sale on a different value just because of their off balance sheet items. Following are the core principals that separate good business from industry leaders.
Successful companies have a good senior management team, but some others just hire one person capable of making critical decisions, putting their business in danger. If your company can not function properly without your daily supervision, then you need to hire and develop talent for the future of your business. Read more » Last week we spoke about the basics of your P.R. plan and P.R. organization. Now we will focus more on other aspects of a challenge called Public Relations. Public Relations may seem as a very complicated and demanding aspect of any business, especially the small one. Professional P.R. approach includes community participation, public speaking and articles published, contact with media and local reporters, your communication with your audience and presenting the right message to them. If we want to make this definition more concise, we would say that P.R. campaign is concentrated on the relationship between your business and its public. And what is it that can help you make the right impression and take care of the future of your business? Read more » Public relations are very important aspect of every business.
Don’t think this way. Public Relations, Press Releases and well designed PR plan can and will make a difference to your business success. Energy, time and money invested in this will certainly not be wasted. As you probably already know, when starting or reorganizing a business, the first thing to do is to make a good business plan. If you have already accepted this concept, then you have a valuable habits of good organization and realistic analysis in running a business. Read more » Every industry, every hobby, every action can have a green shade. Going green means either improving the planet or improving its people or both. Any product, process or service that saves natural resources or re-uses these resources is considered green. Any effort to help people live healthier lives is green. And any business based on these ideas is green. Considering the green business as a relatively new concept in business world, people are sometimes suspicious about green business opportunities. Are people really buying green? Do they really appreciate the efforts of ecologically conscious small companies? With the fact that some 50 million American consumers are classified as LOHAS (with lifestyles of health and sustainability), the answer is positive. The Natural Marketing Institute is very satisfied with this statistics which shows «customer’s profound sense of environmental and social responsibility». Read more »
There are many cost-effective ways to make your business more environmentally friendly, you just need to determine what green practices can be easily implemented in your business and choose the right technology. For example, running a paperless office quickly gained popularity among businesses that are looking to reduce their impact on the environment. It is a great way to minimize waste that a company produces by using less or no paper, and it doesen’t include large investment. Excessive use of paper is mostly connected to business communications, both internal and external. If you are searching for the way to reduce the use of paper and therefore the waste that your company produces, changing your business communication habits is the right place to start. Read more » |
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