Thursday, December 13, 2012

My top 5 tips for running a business.

So many people ask me for business advice on a daily basis. As my holiday present to you, I am offering up my top five tips for running a business!

# 1 -Don't just offer what you know. Expand and find out what your competitors are offering that you don't know- then learn it! Be competitive not complacent.

# 2- Don't be afraid to ask for help. Find a good mentor in your field and ask him or her to identify your weaknesses. This will offer you insight to your business' short comings.

# 3 - Never hire friends, unless you don't value the friendship. Hiring friends is worse than hiring family. Friends can become vindictive, expect favors and usually don't consider holding themselves accountable for mistakes. Hiring friends is always a bad idea.

# 4 - Try to promote from outside. If you promote from within it can cause desertion in the office and between co-workers. You may have a really good, trustworthy employee that deserves a promotion, but you also have to consider the climate of the office. Ask yourself if the person is promoted could other employees become jealous? What are the benefits and the risks?

# 5 - You are running a business. Understand this! Many people think just because they started a business that the business and the employees will run it for you. You need to be present and take the task seriously, if not- you will fail.


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