operations

Grow From Here to Success

How to make sure your business has everything it needs to grow

When I was a younger guy, whenever I would get a gadget, while I might have enjoyed it, I always thought about what the toy will be like in the future, perhaps with the same anticipation as many people have about the next generation of mobile technology. One of the things that always bothered me was the question of why things weren’t designed to be used with the next generation of products.

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When Things go Wrong | Extraordinary Business

How to plan for and manage unexpected challenges you face in business

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You have probably been to a restaurant when it is extremely business, with people waiting out the door, slow service and very busy servers. You’ve probably been stuck in traffic at rush hour or when a big event is coming to town. You may have waited in long lines for a movie or for a ride at an amusement park or some of their place where you probably thought or said to yourself that they probably need more people or could use more space.
While you might understand or be patient if it happens once or twice, you will probably find alternatives – be it alternative locations if they are available, or available times if the issue seems to be a timing issue. In either case, you are thinking about the cost to switch or select a different option. If it is a restaurant, it may be fairly easy to find another restaurant or movie theatre, making the switching cost low. If it is an amusement park or a road, the switching cost might be higher – you may have to travel a great distance (cost) to avoid the lines or to get on open roads.
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When Things go Wrong

How to plan for and manage unexpected challenges you face in business

You have probably been to a restaurant when it is extremely business, with people waiting out the door, slow service and very busy servers. You’ve probably been stuck in traffic at rush hour or when a big event is coming to town. You may have waited in long lines for a movie or for a ride at an amusement park or some of their place where you probably thought or said to yourself that they probably need more people or could use more space.

While you might understand or be patient if it happens once or twice, you will probably find alternatives – be it alternative locations if they are available, or available times if the issue seems to be a timing issue. In either case, you are thinking about the cost to switch or select a different option. If it is a restaurant, it may be fairly easy to find another restaurant or movie theatre, making the switching cost low. If it is an amusement park or a road, the switching cost might be higher – you may have to travel a great distance (cost) to avoid the lines or to get on open roads.

 [···]

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How’s Your Plan? | Extraordinary Business

How planning can and will impact the success of your companysmall business planning

Apple bought Beats by Dre…AT&T bought Dish Network…Facebook is after WhatsApp.  Which question is more important – the what, as in what did they buy or the why?
Well, more than likely, these were part of their plan to perhaps gain more market share, expand their capabilities or offerings, purchase some new technology or knowledge or some other strategic initiative to increase shareholder value. In the case of these businesses, they have their board of directors and stockholders that are holding them accountable for achieving or exceeding the company’s strategic goals. No acquisition is done in a corner or without some type of planning.
As small business owners, while we aren’t beholding to our stockholders, at least to the extent of larger companies, we should have some type of accountability to ensure that we are creating and following through with the strategic initiatives that the company requires. This could be – should be  – people who would be willing to have a stake in the success of your business and will be committed to making sure you don’t drop the ball.
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How’s Your Plan?

How planning can and will impact the success of your company

Apple bought Beats by Dre…AT&T bought Dish Network…Facebook is after WhatsApp.  Which question is more important – the what, as in what did they buy or the why?

Well, more than likely, these were part of their plan to perhaps gain more market share, expand their capabilities or offerings, purchase some new technology or knowledge or some other strategic initiative to increase shareholder value. In the case of these businesses, they have their board of directors and stockholders that are holding them accountable for achieving or exceeding the company’s strategic goals. No acquisition is done in a corner or without some type of planning.

As small business owners, while we aren’t beholding to our stockholders, at least to the extent of larger companies, we should have some type of accountability to ensure that we are creating and following through with the strategic initiatives that the company requires. This could be – should be  – people who would be willing to have a stake in the success of your business and will be committed to making sure you don’t drop the ball.

 [···]

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You Can’t Fix Stupid | Extraordinary Business

How addressing one part of your company’s operations may not be effective

imageI think that one of the scariest things that can happen in business is suddenly being slammed with new customers and not being able to fulfill their needs, costing the company much more money than as planned in order to struggle just to keep up. While you, as a business leader, struggle to keep the business afloat, you can’t help but wonder what is going on that you cannot see…are you still profitable? Is it damage to your brand? Are there quality issues that you cannot meet? Are you engaging customers in such a way that they will come back???

Is your company’s infrastructure stupid??

When you are in the midst of the storm, you will find out, rather quickly, that you can’t fix stupid! Therefore, it is essential for business leaders who intend to grow their businesses to think differently about their company and how it will continue to survive!

 [···]

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You Can’t Fix Stupid | Extraordinary Business

How addressing one part of your company’s operations may not be effective

imageI think that one of the scariest things that can happen in business is suddenly being slammed with new customers and not being able to fulfill their needs, costing the company much more money than as planned in order to struggle just to keep up. While you, as a business leader, struggle to keep the business afloat, you can’t help but wonder what is going on that you cannot see…are you still profitable? Is it damage to your brand? Are there quality issues that you cannot meet? Are you engaging customers in such a way that they will come back???

Is your company’s infrastructure stupid??

When you are in the midst of the storm, you will find out, rather quickly, that you can’t fix stupid! Therefore, it is essential for business leaders who intend to grow their businesses to think differently about their company and how it will continue to survive!

 [···]

Read More