Management and Leadership

Doing Well? How do you Know? | Extraordinary Business

imageWith the Affordable Care Act a.k.a. “Obamacare” rolling out, business owners and politicians across the country are faced with the question: “How will this affect my business? How much will it cost me?”

Realizing that the act will require change, either from compliance or non-compliance, what has to happen in order for you to make a good decision – even to criticize or support it –  is to have access to the information about your business. In short – its economy, which you could say is the management of the use of scarce resources, essentially, time, money, skills, real estate, equipment and other assets.

For example, if you look at the cost of the Obamacare program versus the cost of hours or days of lost productivity per employee due to being sick and not being able to go to the doctors, or losing employees because they find a job that has better benefits, which would cost more? Which would cause you, as a business owner, to expend additional resources either covering for that person yourself or finding someone else to cover that person?

Are there alternatives? Would they work better? How do you know? Is the information you are receiving filtered, or straight from the source? You cannot answer these questions without knowing your business’s economy and access to accurate information that

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Doing Well? How do you Know? | Extraordinary Business

imageWith the Affordable Care Act a.k.a. “Obamacare” rolling out, business owners and politicians across the country are faced with the question: “How will this affect my business? How much will it cost me?”

Realizing that the act will require change, either from compliance or non-compliance, what has to happen in order for you to make a good decision – even to criticize or support it –  is to have access to the information about your business. In short – its economy, which you could say is the management of the use of scarce resources, essentially, time, money, skills, real estate, equipment and other assets.

For example, if you look at the cost of the Obamacare program versus the cost of hours or days of lost productivity per employee due to being sick and not being able to go to the doctors, or losing employees because they find a job that has better benefits, which would cost more? Which would cause you, as a business owner, to expend additional resources either covering for that person yourself or finding someone else to cover that person?

Are there alternatives? Would they work better? How do you know? Is the information you are receiving filtered, or straight from the source? You cannot answer these questions without knowing your business’s economy and access to accurate information that

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The Impact of Disorganized Organizations | Extraordinary Business

What disorganization might look like in your company and what you can do about it.

imageOne of the biggest challenges that I see with businesses revolves around organization, meaning that the businesses the business takes a dartboard approach to managing their tasks and calendar.

You might see anything in a disorganized organization, ranging from time management issues to not having processes in place to get things done efficiently, repeatedly and consistently. These types of issues lead to other problems in the business, such as difficulty retaining customers and clients, getting referrals from the clients who are looking for more than you can offer, taking too long to produce and deliver proposals and set up meetings and missing opportunities.

Bottom line is, an unorganized organization will hurt the business, create missed opportunities and stifle growth.

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Measured Steps | Extraordinary Business

“Who builds a tower without first considering the cost?” ~ King Solomon of Ancient Israel

imageMany people who start businesses simply write down a few ideas, get some information and get started on their businesses. They get some sales, things start to look good, so they start looking at how to increase the amount of business they are getting. They might go out and hire a part time VA (virtual assistant) or work with a staffing firm or to fill the need.

All of the sudden, sales plummet. It could be the result of a key customer leaving, a sales person leaving and taking their contacts to another firm, damage to your internet reputation (yep – it happens!) or a change in the marketplace or industry.

Think about it: the New York Yankee’s Alex Rodriguez (A-Rod) and twelve other players have been suspended from playing for using performance enhancing drugs. This was unexpected. But the teams cannot afford to fall apart because of this. They have to operate differently in order to remain successful.

While somewhere in the back of our minds, we all know that this is a possibility…it is not preventable because most of these issues are outside of our control.  Even losing a key customer!

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Measured Steps | Extraordinary Business

“Who builds a tower without first considering the cost?” ~ King Solomon of Ancient Israel

imageMany people who start businesses simply write down a few ideas, get some information and get started on their businesses. They get some sales, things start to look good, so they start looking at how to increase the amount of business they are getting. They might go out and hire a part time VA (virtual assistant) or work with a staffing firm or to fill the need.

All of the sudden, sales plummet. It could be the result of a key customer leaving, a sales person leaving and taking their contacts to another firm, damage to your internet reputation (yep – it happens!) or a change in the marketplace or industry.

Think about it: the New York Yankee’s Alex Rodriguez (A-Rod) and twelve other players have been suspended from playing for using performance enhancing drugs. This was unexpected. But the teams cannot afford to fall apart because of this. They have to operate differently in order to remain successful.

While somewhere in the back of our minds, we all know that this is a possibility…it is not preventable because most of these issues are outside of our control.  Even losing a key customer!

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Telling the Future: It’s All in the Numbers! | Extraordinary Business

Setting up a System for Collecting and Managing Data for Small Businesses

imageIs your company doing well?  Are you profitable?  How much longer will it be until you are?  Where can you cut expenses?  What are your most profitable products or services?  Which are the least profitable?  What the shelf-life of a particular product?  How effective is your marketing strategy?

 

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Sweet Spot | Extraordinary Business

In baseball, the “sweet spot” is typically the spot on a baseball bat where a hitter will get a powerful, clean hit.  When hitting a ball with the bat, hitting it outside of the sweet spot will typically make the ball go up or down, and the bat twist.  The result is that the full force of the swing isn’t transferred to the ball.The Sweet Spot

When hitting the ball on the bat’s sweet spot, however, the bat doesn’t twist, and the full force of the swing is transferred to the ball, yielding a nice, clean hit.

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NOT MY FAULT!!| Extraordinary Business

As a business consultant, I have the opportunity to work with a lot of business leaders as they navigate their ways through the marketplace.  I’ve got to admit: I am addicted to helping them fulfill their company visions, and thus, make myself available to answer questions and talk through challenges.Being accountable for Accidents

One thing I have encountered a number of times is the difficulty that exists around taking responsibility for certain issues that occur in and around the business.  Granted – there are things, perhaps a number of things that lie outside the realm of a provider’s control.  Here’s an example of what I mean:

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Just When you Had it Figured Out | Extraordinary Business

…things change!

Have you ever found yourself to be a fan of a specific kind of ice cream or amusement park, mall or something like that?  Of course.  We all have.  Unfortunately, more often then not, at some point, things change.  Perhaps it was the service at your favorite restaurant or your favorite ride at the amusement park – things change.Change Directions

Without saying, things change in business.  Employees, vendors, technology, manufacturing practices, etc.  They not not prone to standing the test of time.  Why?  Because if nothing changed, there would be no progress.  Things change, by nature, always seeking the best of whatever situation it is in according its nature.  Plants grow toward the light.  Water runs from high points to low points.  People tend to gravitate toward each other, food and shelter.

So as business leaders, how do we manage change?  Here are 10 steps to keep in mind.  Remember, the more difficulty your organization has with managing change, the greater the cost and ripple effect there will be in the organization.  Conversely, the better job business leaders do in handling change, the more confident their teams are when following.

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