5 Tips to Save Your Business

I was recently asked about tips on saving a business before or after it starts. Well, each situation is complex but here are my basic tips;

# 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.

Until tomorrow,

Twyla N. Garrett

Are you reaching for magic in business?

The great leaders are like the best conductors – they reach beyond the notes to reach the magic in the players. – Blaine Lee

Are you reaching for the magic in business? Many of us go into business because we are passionate to create our own path in life. But, are we creating this path for the right reasons? Are we truly reaching for the magic that will make us money but provide a legacy, too? Or are we only focused on quick money and not investing in ourselves and are employees?

The key to business is to reach for the magic. You have to focus on it. Don't chase paper, don't worry about money not rolling in right away. Worry about talent within your company. Great talent makes for amazing magic. Business owners know they can't possibly run every aspect of their business. So, you have to find talented people to help you create magic and then the money will come.

I am willing and ready to take your questions on the magic of business.

Twyla