Many of the small businesses that we encounter are family-owned and operated. And on the surface, this seems like a good idea. After all, you love your family, so why wouldn’t you want to work with them? You know them well and trust them, so it seems like a lower risk venture than relying on strangers. While working with…
In the early days of your business, you probably had the time and motivation to get to know every customer personally. You didn’t just provide exceptional customer service, you “connected” with your customers in a way only small businesses can. But as the head of a growing business, you can’t do it all anymore. Now…
Managing a business, especially a small business, is like coaching a sports team. Like any team, you have your stars, and inevitably, you have your benchwarmers. While both groups have a place in your organization, they should not be managed in the same way. We all know our stars. They bend over backwards to get their work done and…
Almost all business owners want their businesses to grow. They want to see more sales and profits. They want to offer their employees the opportunity to learn and achieve. But, how do business owners actually achieve the growth they want? Well, it takes much more than merely wanting growth, that’s for sure. When you go on a trip, you…
The creative services business requires managing and selling a rather unpredictable product – people. But, this doesn’t mean your business and its success must be equally unpredictable. Creative services companies can realize steady growth and success – even with the uncertainty and variability that accompanies managing and selling people’s services. Here are four key strategies…
I often hear business leaders tell me that they don’t get enough done in a day. They have a to-do list a mile long, but they spend their whole day answering employees’ questions and solving employees’ problems. But, if we let day-to-day issues like these fill our day, it’s impossible to make progress on the leadership tasks that only…
It’s August now in the Northern Hemisphere – time for vacations, traveling, family reunions and other fun summer stuff. It’s the one time when everyone seems to take a break. Unfortunately, there were times in my career when I didn’t consider August as being much fun. In fact, it was a hassle. Nothing got accomplished; no one was around…
Small-business owners often are self-conscious about being small. We are often very conscious of the ways that we compete at a disadvantage to bigger businesses. They have the big budgets, the high-powered executives, attorneys and banks at their beck and call, they have all the advantages… Well, maybe not ALL the advantages. There are some great things about being small….
The words “I quit” may signify the end for an employee, but for an employer, the words can mean the beginning of a long, often painful process. When I was General Manager for a 120 person manufacturing company, my right-hand man left for a promotion at a nearby company. Almost immediately after, half the team followed him. I was…
Fifth Anniversary Celebration It’s hard to believe, but Anchor Advisors, Ltd. is turning five this month. In recognition of this milestone, I would like to share the top five lessons I’ve learned as a business owner during the past five years. 1. You Can Never Have Too Much Cash. Cash is my best friend. That’s because it’s always bailing…