How do I know when it’s time to reinvent my services or products?
Here are some warning signs of business stagnation and decline:
Feedback from Customers/Clients. When you start hearing questions like: Do you have anything else? When will something new be in? Are you offering any more services? Have you thought about branching out? Clue after clue, the writing is on the wall. If you don’t reinvent your business in some form or manner, you will not have a demand for you to supply much longer. Take feedback seriously and begin to plan for and implement change throughout your business if you want to stay in business. READ MORE »
Anyone who has been in the workforce for any length of time is familiar with the traditional discipline model. First you get a verbal warning, followed by the first written warning (on the heals of the statement “I’m going to have to write you up.”), which can escalate to a final warning before termination.
At one company I worked for we used to joke about how many final warnings someone would get before termination. Employees would know they probably had a final final final warning before they were let go because supervisors would rather suffer through a low performing employee rather than have no one on the job. The work didn’t go away even if they employee did. READ MORE »
If you are reading this Rule of Thumb for Business blog you are looking for ways to make your work life more productive and successful. Am I right? I thought so.
As an entrepreneur, I know you understand the concept of planning. Yet, how often do you practice planning? At the beginning of a venture, whether starting a new business or modifying some aspect of a current business, planning takes a front seat, and yet, I know the complications of everyday tasks can, and do push on-going planning to the back. READ MORE »
By now we should all be familiar with the benefits of the Global Positioning System. It’s in the cars we drive, the smart phones we use daily, and in ways in which we are not aware. We can punch in a location or address and be rewarded with a detailed route of how to get to our destination and how much time it will take. Detailed maps and obstruction-avoiding alternate routes are provided. If this sounds like navigating through the implementation steps of a business strategic plan, it is exactly that. First, you have to have a plan. READ MORE »