fbpx

Entrepreneur Series – Lesson 6 – Poor Staffing Decisions

One of the first things I heard when I got into management in my career is the phrase “you have to put the right talent on the bus”. While I understood its meaning, it took many years to realize how important hiring decisions are to grow an organization the right way. I also felt the pain of making poor hiring decisions, and how much time and productivity you can lose from just one bad hire. No entrepreneur lives in the panacea of having zero turnover as sometimes they might like to make it seem, but certainly making the right staffing decisions by putting people in the right roles can allow your start up venture to get off on the right foot. One of the critical questions to ask yourself early in your venture is what role do you (the CEO/owner) play in your firm. If I was to use a baseball analogy, what jobs are you going to be a ...

Read More →

10 Mistakes That Entrepreneurs Can Make

There are 10 Mistakes that Entrepreneurs make that can prohibit them from creating a very successful business.  By learning how to avoid these mistakes you can get your business started up quickly, draw top line revenue, and be able to create a very profitable entity for yourself.  So here are the 10 mistakes that business owners and entrepreneurs make. Mistake #1 – Undercapitalization –There are many businesses out there that simply don’t think about how they are going to growth the business from a financial point of view.   Do you have the right lines of credit?  Are you going to equity out part of the company?  Or, are you going to try to fund your growth through the cash flow each month knowing you may sacrifice your own pay?  Have I assessed the appropriate pro forma analysis to figure out my real profit and loss in the business?  Should I lease or buy equipment? Essentially, what is the best way ...

Read More →