Entrepreneurs face the same challenge- the fact that there are professionals and novices in the field. There is no two way about “not knowing”; what you don’t know is what you don’t know. That’s why we’re and professional writing services presenting 15 tips to keep you and your business afloat.
- Money – be sure there is and will be enough in the bank
No better way to put it; make sure there’s always enough. If you have a cash-flow problem, the time to set it straight is now.
- Bad employees, you can’t just let them off
Firing slacking employees has to come from a place of surety. You have got to be sure that the problem is from them and not you.
- But, the problem is probably you
You never saw it coming, but what if you’re the problem. When things are taking a downturn, the first place to look at is within yourself.
- Show your star some love
Losing a star employee will cost you big, and the chances of finding a better replacement stand at improbable. See that they are well taken care of, compensated and motivated.
- These guys are human beings first
When you use people as if they were machine and abuse their humanity, you are in for a regret. Chances are, the business will suffer for it.
- Be Decisive
Standing on the fence in terms of decision making is a sign of weakness. Learn to say “yes” or “no” and stand by what you’ve said.
- Pay attention to your customers
The fact that most entrepreneurs care little about customer feedback is alarming. Feedbacks give insight and provide critical information to serving your customer better.
- Between meritocracy and prejudice
Meritocracy is how you compensate and reward all who have done well. Please don’t play the game of favoritism, no business owner ever got anything useful from it.
- Transparency is a matter of time
A business does not thrive on everyday transparency because some aspects of the company should be kept private and away from certain people. Knowing alone doesn’t help here, experience counts.
- Trust your gut
This is critical to decision making, and you are the essential tool here. When it comes down to decisions, don’t allow the chance for a second guess. When your instincts feel right, go for it, or you may end up in regrets.
- Shield and preserve your intellectual property
If you’re one of those who don’t know the difference between trademarks, copyright, patent, trade secret etc. that’s sad. If you can’t protect what gives you the edge over others, be ready to bid competitive advantage bye.
- Learn to reach and make valid agreements
Reaching and making valid agreements is good for the business. The more you work on this, the better your business relationships turn out to be.
- Strictly business
A business is a business, not an extension of your private matters. Keep your personal life away from the company.
- Know everything about your finances
Money comes in and goes out, but the owner of the business knows nothing about it, trouble is brewing.
- What you don’t know is what you don’t know
Better safe than sorry. Humility helps you learn what you don’t know. Making the costly assumption that you know it all will lead you to regrets. Allow yourself to learn, relearn and unlearn.