This is the first installment of a series on “best hiring practices,” and as such, it probably makes sense to start at the beginning. The real beginning is making the decision that you need to hire someone, but for this purpose, we’ll assume you’ve already done that and that you now need to take the
Best Hiring Practices 101a
Although unemployment is still high and small business owners are reluctant to undo some of the painful staffing cuts they’ve had to make, some owners are creeping back into the job market to fill some needed vacancies. So it seems an appropriate time to talk about a hiring “process.” While there’s no hiring process that
Tip – A great management tool!
No quote this week. I want to offer a tip you will find useful, but I didn’t have a quote that would complement it. One of my favorite management tools is a trailing 12-month average. If you’re familiar with this tool, stop here. You already know what I want to tell you. But if not,
Time to audit your products/services?
Last time, we talked about the importance of knowing profitability by customer, but what about the products and/or services you sell? Do you know which lines of business are the most profitable and which are the least? You may think you know where your profits are coming from, but do you really? Are you sure?
Time to audit your customers?
Do you know which of your customers are profitable for you and which are not? Yeah, if you look for them, you’ll probably find a few (hopefully only a few) that really aren’t contributing anything to your bottom line. So how do you identify them? And once you identify them, what can you do about
“Have your children go work for someone else before they work for you.”
Some small business owners dream of creating a “family business,” that is having one or more other family members actively engaged in running the business. It’s a romantic notion and very compelling to some . . . Mom keeps the books, Sis and Little Johnny do a variety of chores around the place, and Dad
“You can’t manage what you can’t measure.”
“You can’t manage what you can’t measure.” “What gets measured, gets done.” Those are two complimentary management axioms, and they both happen to be true. Take the first, “You can’t manage what you can’t measure.” It’s pretty hard to argue with that. For instance, how could we manage our receivables without a measurement of some
“Give up trying to grow the bottom line. Grow your people and your people will grow the bottom line.”
I was in a conversation recently with a guy who works for a technology company, and during the course of the conversation, the subject of “training” came up. He said that his company has a training budget for their technicians, but not for their managers. He said he knows this because he wanted to attend
Now, Discover Your Strengths
In his excellent book, “Now Discover Your Strengths,” author Marcus Buckingham and co-author Donald Clifton discuss the work they did for The Gallup Organization to find out what makes successful people successful. What do those successful people have in common that makes them high achievers? So they sifted through over two million interviews that Gallup
Key Performance Indicators (KPIs)
I normally begin with a “Quote of the Week,” but I wanted to talk about Key Performance Indicators (KPIs) and didn’t really have an appropriate quote for that topic. So I guess this is a “Tip of the Week.” While monthly financial statements provide vital information to the management of a business, they have a
