A few days ago I was meeting with some clients and our conversation turned towards growth and how to manage it. I’ve seen so many companies grow and maintain or even increase their profits proportionate with their revenue. This is ideal! However, too many business owners only concentrate on top line growth and don’t pay attention to the “quality” of their growth or bottom line.
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Entries by fpcadmin
Are you ready for 4th quarter?
Have you started planning for 2020?
How about your succession planning?
If the answer to any of these questions is “no”, you need to set aside time to work on all of them. Without a clear vision and a means to get there, you will struggle.
In a conversation with a client the other day, we were talking about how impressed he was with his son’s school and their level of accountability for their students. The students have to earn the right to be in advanced classes and if they don’t, they are bumped back to regular classes. So I asked him if he applied this same practice in his business…any guess what his response was?
Have you ever thought about the impact of attrition on a business? Attrition comes from both clients and employees and both can have a tremendous impact on the bottom line…and not in a good way in most instances. In this month’s newsletter, we’ll hear from a FPC client who wrote an article on what losing clients cost his company, as well as an article that discusses the impact of employee attrition and a formula to calculate the actual costs associated with these types of losses. As you read both articles, I hope it will prompt you to think about your company and your own retention plans.
As a leader in your organization, are you taking action on every significant thought that comes to mind? Do you “know” something isn’t right, but just hope that it will resolve itself? If this sounds like you, you’re not alone. Tough decisions are difficult to act on. This month’s article discusses a great tool to help you move forward with those necessary decisions (the ones around your people, anyway). If you can learn to set your emotions aside (and this tool will help you do that), and remember that your decisions should be in the best interest of the company as a whole and not any individual, then it is far less difficult to make the correct and necessary decisions to make and keep your company healthy.
I talk a lot about accountability. I found this great story that I thought did an amazing job of communicating what so many of us are guilty of. I hope it helps clarify why it is important to not adapt company policy to individual needs. Enjoy the story!
Have you ever had a great employee…but they just weren’t meeting expectations? Do you realize how paralyzing this can be to the entire organization? The following article does a great job of summarizing this exact scenario. Sometimes having that challenging conversation is exactly what the company needs to move forward.
Many of you have heard me speak about the importance of accountability as a necessary ingredient for a successful business. But, many of you find it challenging to have those perceived difficult conversations with your team. I’m hopeful that this month’s article with provide you with some additional guidance and encourage you to include accountability in your businesses.
Being a great leader is one of the most difficult challenges that face business owners. It’s striking the right balance between encouragement and accountability, being firm but fair. This article, written by a Navy Seal, does a terrific job of highlighting some critical areas on which to focus.
I hope you will find a couple of good nuggets in the article.
I recently saw an interview with the current SBA Administrator Maria Contreras Sweet. She was discussing how the current national unemployment rate is impacting small businesses. Ms. Sweet’s position is that two out of every three new jobs are created by small business, so the need to find talent is critical not only to the success of the small business community, but also to our national economy.