In American business, an individual’s compensation package, particularly among managers and sales people, frequently includes an incentive component. An example might be a manager who is paid a base salary of $75,000, but is able to earn an additional $25,000 if he or she is able to achieve certain goals or outcomes. The proposition is,
Kristin van Ogtrop is the editor of Real Simple, a monthly lifestyle magazine for women. In a recent edition of Time magazine, she wrote an opinion piece entitled, “There’s a difference between a boss and a friend, and that’s as it should be.” In it, she bemoans a lot of research done by the Gallup
“When you’re a little bit dumb and naïve, things get done that no one believed could be done.” We don’t know who said that, but it’s true. Consider the new, fresh-faced young salesman who marches into an account we wrote off long ago as a waste of time. We all laugh at his innocence and
In today’s business environment, change is inevitable. It’s all around us . . . new government regulations are thrust upon us, new competitors enter our market as old competitors leave, and new technologies make current technologies obsolete. Yet our instincts are to resist change. After all, we perform well doing things the way we do
My previous posting asked, “Are you a bad boss?” I then offered a number of bad boss behaviors (poor emotional control, indecisiveness, micromanaging, etc.) for your consideration. Well, I apparently missed a few. I have gotten some notes (from people, I assume, who are bad bosses themselves, who are recovering bad bosses, or who at
An old adage says, “People don’t leave their companies, they leave their managers.” There are lots of reasons an employee may leave a company . . . higher pay, better hours, shorter commute, etc. . . . but in many cases, a bad boss is in there too. Think about your own work experience and
In the last few postings, we have been talking about entrepreneurs . . . what the profile of an entrepreneur looks like and how successful entrepreneurs tend to behave. But entrepreneurs, like all business owners, need an exit strategy, and it doesn’t matter if the owner is 26 or 66 . . . he or
In their book, “Blue Ocean Strategy,” authors W. Chan Kim and Renée Mauborgne offer some advice for successfully introducing change. The advice they offer is in the context changing marketing strategy, but their advice is really valid for any significant change within an organization whether you’re making operational changes, organizational changes, policy changes, or other.
We’ve talked here previously about change (see http://rocksolidbizdevelopment.com/ourblog/if-there-is-no-change-theres-no-need-to-manage/) . . . about the inevitability of it and about the need to adapt to it. But since our previous talk about change, guess what’s happened! Yep, everything has changed . . . our markets, our competitors, our banking relationships, our people, the technologies we use .
Sometime around the last holiday season, Amazon founder Jeff Bezos announced a plan to home-deliver merchandise within 30 minutes of the order being placed . . . by a little helicopter drone. That’s right. He claims, when the system is ready some years in the future, you’ll call Amazon, place your order, and 30 minutes