"Management" Posts
How To Increase Sales
By Ken DiPrima
“Nothing happens in business until somebody sells something.” How many times have you heard that? It makes no difference whether that something is a product, a service, a commodity, a tangible, or an intangible. Nor does it matter how good is your manufacturing operation, how cutting-edge your technology, how tight your financial goals, or how progressive and forward-thinking your management techniques. You must still have a sales mechanism, in place, or everything else is useless.
Sales is the one department in which a business organization generates revenues. Sales supply that vital elixir that all businesses need—the steady flow of cash.…
Hostess Brands – The Sweet Taste Of Success, The Bitter Bite Of Failure
By Tom Ryan
It has been said that there are only two ways to learn from mistakes, you can learn from your own mistakes, or you can learn from the mistakes of others; and it is a lot more expensive to learn from your own mistakes…
Twinkies were once the go-to after school snack.
Most everyone is familiar with Hostess Cupcakes, Hostess Twinkies, Dolly Madison Cakes and (anyone over the age of 50, for certain!) Wonder Bread. The baking company which owned the Hostess brand, until March 2013, was Interstate Brands, when they were forced to sell the rights to these iconic products …
Creating Buy-In For Change
By 
Change can be a fear generating activity and developing buy-in may seem impossible. The more established a business, the greater the resistance to change. New ideas will bounce off a wall of “this is the way that it has always been done.”
Often there is a vested interest in maintaining the status quo by management and employees, alike.
Perhaps there were past attempts at change, which failed, so that future change is deemed hopeless. A cynical attitude can develop among employees that change is only being given lip-service (think of numerous companies that claim customer service is number one, yet …
There is a RIGHT Way and a WRONG Way to Brainstorm
A delightful infographic from MavenLink presents the concept that there is a right way and a wrong way to conduct brainstorming sessions, which actually makes me think of how there is a right way and a wrong way to host effective meetings (as a brainstorming event is basically a glorified super effective meeting).
Idea Stage Fright
Anytime that a group of people are asked to publically collaborate, not surprisingly, there appears to be ‘groupthink’ issues and psychological barriers to idea generation. Number five on the infographic, fear of criticism and rejection, especially spoke to me.
I find myself flashing back …
Guidelines For Effective Meetings
By GPSTime is money! Learn how to communicate more effectively.
Communication will always be an important responsibility of business owners as they spend significant potions of their time interacting with employees. Meetings are usually a necessary means of communication; however, business owners must keep in mind that time is a limited resource for them and their employees. Since time is money, business owners must improve their usage of time, especially during an economic downturn. Before scheduling a meeting, be certain it is necessary by asking the following questions:
- Could the necessary information be communicated via e-mail, telephone conversation, conference call or
Audit – Not A Four-Letter Word
By GPSPerforming an audit will help your company avoid potential legal liability and the related costs, time and distraction to management and the organization.
Today, increasing sales, reducing costs, bringing new products/services to market and increasing market penetration force business owners to function within a heavily regulated employee environment. The list of complex laws and regulations, such as ERISA, COBRA, EEOC, OSHA, ADA, FCRA, HIPAA, FMLA and FLWA/FLSA, begins to resemble alphabet soup.
In addition, regulations and interpretations of Title VII determine exempt and nonexempt status, unemployment, age discrimination, sexual harassment, immigration reform and control (both state and federal) and worker’s …
Perspectives
By GPSThe triumph of small and medium-size business
As you look back and define success in the deepest recesses of the mind, on both a personal and business level, the realization should be that success is making sure that you are happy with the progress made in life and enjoying the pursuits that are deemed important.
As simple as that may seem, it is extraordinarily difficult to define what “success” is for a small to medium-size business owner. At first blush, it would appear that the maximization of profitability is self-serving and should not be the primary or prerequisite goal in …
Mistaking The Scorecard For The Game
By GPSWhen Amazon.com, the online bookseller, went public it instantly had a market cap of $6.5 billion, yet it had never earned a single dollar of profit in its four years of business. In 1998, Microsoft paid $400 million for the e-mail company, Hotmail.com before it ever earned a single dollar of profit.
How is this possible? Their scorecards (reported quarterly profits, price/earnings ratios, return on equity, etc.) are littered with negative numbers, yet they command incredible value in the market place. Is it possibly because they radiate the greatest competitive advantage in business–innovation?
Concepts like rightsizing, Six Sigma, TQM, incremental …
10 Reasons Businesses Fail
By GPSNearly anyone can start a business, but it takes more than technical expertise and gut instinct to grow it successfully. Here are the top 10 reasons businesses fail, and what you can do to support your success.
- Inadequate financial records. A seemingly small task, such as keeping detailed books and appropriate records of sales and expenses, can affect the success of a business. You need to understand how much money is on hand and how much is owed in order to understand the financial picture. Keep records detailed and current.
- Disregard for or misinterpretation of financial records. Improper funding and
A Survival Model For The Small Restaurateur
By GPSWith so much media attention focused on large industry players in the financial and manufacturing sectors, the food and beverage sector has been somewhat ignored. This article provides a survival model for the small restaurant owner.
The economic downturn has affected all domestic businesses; however, media attention is focused mainly on the large players in the financial and manufacturing sectors. Rescue programs, commonly called “bail-outs,” abound, while the food and beverage sector, driven mostly by discretionary spending, is largely ignored by both the media and the government. Families are tightening their belts, and businesses are slashing travel and related expenses.…
