How to NOT screw big time!
A Company without a contingency plan or two is like a body without the appendix – you think its useless, only to find that it balances the functionalities {and health!} of the intestines.
Contingency! Contingency! Contingencies! That is one of the last note to be taken into consideration before wrapping up a Company! It may be additional funds in the petty cash {aka Bank!}, a talent or two; or even a Plan. A Company without a contingency plan or two is like a body without the appendix – you think its useless, only to find that it balances the functionalities {and health!} of the intestines.
When I first learnt during my growing-up days, that an employer has decided to dissolve his Company, he didn’t literally hope for a hot spell of rain. He initiated a plan to keep it as tight as possible, and to bluntly put it – ‘fired’ staff he thought would best ’save’ the company. The one thing my late father taught me is to … never start a Company or a business for the sake of making ‘money’ out of the people who work ‘with’ you. A Company without manpower is as good as a working paper without a contingency plan.
A Company or a business is a not a marriage of convenience. It is a commitment, it is a game for some, and for others – a means to save the society from the miseries of ‘life’.
What potential employers, and would-be entrepreneurs should read {learn} before wrapping up an idea… The list never ends but these are the basics each should implement before making a decision – health or wealth? Increase the income of the company’s coffers should not be at the expense of decreasing expenses and exploiting employees – businesses must learn that staff do not care if companies fail if they’re NOT part parcel of the companies they work with {have you noted that I specifically did not print ‘work for’}? It’d be any company’s dream and interest to have multi-taskers {or talents} to work on several projects within a company – do consider however, a visual display unit does not operate the same as a CPU, nor does a receptionist the same as a marketing officer, though multi-talented employees {rare in the 21st century} are less appreciated, their presence must not only be appreciated but remunerated well!
Care must be taken to regularly study, organize, plan and control all activities of its operations. This includes the continuing study of market research and customer data, an area which may be more prone to disregard once a business has been established.
Have you ever played “Snakes & Ladders”? If you have you’d likely dread the bite, and equally get excited at the sight of the ladder. As much as the game may be a game of chance for children with nothing better to do, it presents to us, a glimpse into the world the reality ‘adults’ call for in a game of chance – the same can be said about managing businesses, and people.
“Disaster recovery planning and business continuity planning have always been important, but they’ve often been ignored,” says Bob Blakley, principal analyst at the Burton Group.
Do what you love, and for Faust’s sake – Learn to love what you love and that includes learning the blasted software and not just rely on one Chef, to keep your kitchen entertained! A business owner must know how to prepare sauces and dishes better than the employees they employ. A chef on the QEII employed in the kitchens of the Duchess must equally have an employer who knows the delicacies of taste! and can easily whip up a souffle or two when the other entrusted one has been taken ill, or reveling at a Chateau in Tuscany.
A little humility works well! Trust me – without humility who cares about you, or your company! The markets have changed – people are becoming more sophisticated, and more demanding. What makes you better than the other is not how better you pompously bitch at your competitors – but how well you own your mistakes and why anyone in the company should not follow your footsteps! Let others’ learn from you! Test yourself against reality. Robert J. Ringer, in his excellent book Winning Through Intimidation
Disaster recovery is a journey with no destination. You have a road map, but you’re never going to get where you want to go because things are constantly changing. The list is endless of what could have changed since your disaster recovery plan was written-and all of them impact your ability to recover after a disaster. Test, evaluate and revise your plans as situations change. The key is to be prepared. By constantly updating your disaster recovery plan you will be ready when the unthinkable happens. Yesterday’s management tools are not enough – organizations deploying complex, next-generation web applications have discovered that the tools, skills, and processes they have used to manage applications for years suddenly seem completely ineffective for managing business-critical processes!
A business must fulfill the needs of the human spirit. These include survival, safety, play, celebration, love, belongingness, self-esteem and self-actualization ~ Deepak Chopra
Managers should recognize the first rule of change, “Somebody ain’t gonna like it.” The second rule is, “Somebody else ain’t gonna like it.” When managers and employees understand these two rules, the change process becomes easier. Why? Because we will… 1} avoid change for the sake of change; 2} seek to understand why employees resist change; and 3} use a change process that seeks to achieve employee “buy-in.” Remember, managers manage change and employees implement change. You cannot make anyone implement changes. You lead them through the process
Some reading to keep the ‘business’ spirit alert, and ready to face the next challenge!
- Resilience can be rewarded. So can keeping a positive perspective!
- To understand what someone wants out of a business you must really get to know a potential partner. Details about his or her upbringing, family life, social style, fears, expectations, business philosophy and priorities are all key.
- Despite such potential, most companies deliberately avoid virtuoso teams, thinking that the risks are too high. For one thing, it’s tough to keep virtuoso teams together once they achieve their goals—burnout and the lure of new challenges rapidly winnow the ranks. For another, most firms consider expert individuals to be too elitist, temperamental, egocentric, and difficult to work with.
- An automaker, for example, may frequently tweak a basic engine design to increase horsepower, enhance fuel efficiency, or improve reliability. Companies also have to make architectural innovations, applying technological or process advances to fundamentally change some component or element of their business.
- For traditional print production to work, timelines needs to be maintained. This is exactly the reason why the custom process won’t work within a traditional magazine production environment. Customer approvals and changes require constant movement in the production schedule.
- Take time to think about all the possible risks to your business, however unlikely, and make a list of them
- Does Your Backup Plan Have a Backup? Lessons Learned from Hurricane Isabel Can Be Applied to Many Types of Disasters That Banks Must Prepare For
- Managing people involves understanding the strengths and weaknesses of individuals within a work team and assigning people tasks for optimal efficiency. In fact, another way to look at these differences is to equate leadership with effectiveness and management with efficiency.
- In their haste to get the ships into the water, the Navy and contractors redesigned and built them at the same time — akin to building an office tower while reworking the blueprints. To meet its deadline, Lockheed abandoned the normal sequence of shipbuilding steps: instead of largely finishing sections and then assembling the ship, much of the work was left to be done after the ship was welded together. That slowed construction and vastly drove up costs.
- Master the Art of Timing
- A business is a living entity with needs of its own, and unless the leaders pay attention to those needs, the business will fail. So how do you know what those needs are? There’s only one way: by looking at the numbers and understanding the relationships between them
- “If I only knew that before I started.” Stay informed and you’ll be building a platform for success for your new business.
- Too often, when we think about the individuals and organizations we must deal with, we perceive them as barriers or distractions to getting our job done.
- The culture where employees cannot count on management to provide stable employment with opportunities for growth is a culture where lean cannot succeed. The cost of the waste associated with inefficient processes, which you will need experienced employees to identify and rectify, far exceeds the cost of those employees.
- The bottom line is that you have to take care of your number one asset, your team, and start preparing early in the year to make sure that you have the right plan in place to keep your team motivated and excited to work at your company. This includes managing compensation proactively but also making sure you hire the right people and create a winning, passionate atmosphere in which your team can thrive.
- One time management strategy is to be independently wealthy, freeing up eight hours a day. But that option isn’t available to many. And apparently it isn’t fulfilling because most rich people continue to work full schedules.
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