Leadership Tips – Small Business Requires Faster Decisions

Introduction

This leadership tip has something in it for managers everywhere, but it’s particularly targeted at those of you with large company backgrounds who have made career moves to smaller businesses that you own and/or manage.

My background is primarily in large scale management of IT organizations. The companies where I’ve worked were places where changing a process or behavior took some time. I always thought I was quicker than most, and action oriented. As a small business owner, I found I had to be much quicker.

I’ll offer this leadership tip in the form of a story. It’s a story of how taking your eye of the ball can cost you money, and worse than that can cost you customers.

My First Small Business

I opened a small personal services business. It was located about an hour from my home office, and with all my other commitments I knew how important hiring the right manager would be for this shop. It took a few tries, but I found one with a good background and references, and she seemed to quickly develop loyalty to the business and to me.

For the first six months we grew slowly but steadily. We were behind plan in terms of customers and revenue, but the trend was up. There were a few staff issues, but overall turnover was okay. I decided to invest a little more in marketing to try and get more new faces in the door.

Over the next three months, customer counts were mostly flat, and average sale was actually down a little. Concerned, I visited the shop a few times more than usual. The people were not as upbeat as they had been. When asked about that, they attributed their moods to less business and less enjoyment of the job. I wondered about seasonality, the economy, and whether I needed even more marketing investment.

Want to know what was really going on? My trusted manager had some personal problems that I had not been aware of before, and was exhibiting some totally unacceptable behaviors:

  • Criticizing staff in front of customers
  • Intimidating staff, letting them know they were at risk of being fired, and telling them I was out to get them.
  • Stealing money by voiding transactions and other means

The Damages

I’m still figuring out how much money all this cost me, but the money is only today’s problem. The customers I’ve lost are a more serious longer term issue, because many of them won’t be coming back.

When I figured out what was going on, I moved quickly to fire the manager. There were only two problems:

  1. I was too late, and there had been several months of damage done;
  2. There was collateral damage. I had to fire two other employees who had adopted the attitude and behaviors of the manager.

Today, I’m working on putting together data to see if I can assemble a case for prosecuting the employees and the manager. An even higher priority, though, is the work I’m doing to recruit and orient new staff and develop a recovery plan for our customer service reputation.
This leadership tip was a painful lesson that I hope never to repeat.

VoIP Business Solution – Saving Your Company Money

For a business VoIP plan, the cost currently is somewhere less than $50. Businesses are allowed to make calls to anyone in the USA and Canada at anytime on their home, business and cell phone free of charge.

While this probably won’t be of much concern when you’re calling a friend, but remains a huge topic for businesses that constantly use telephone communication for discussing pertinent business information. Those with home offices can also this as a separate business number.

For home or small business users, cable Internet service will provide the biggest savings, as most DSL service requires a land line telephone service account. In order to make use of VoIP business solution for placing internet telephone calls, you will need to subscribe to a service plan provided by one of the major VoIP service providers in business today.

Some companies charge for technical support, while many provide support during normal business hours. This is done remotely by the VoIP Hosted PBX provider, which also provides your company with greater flexibility to respond quickly to changing business or market conditions.

While the new VoIP service can save the average user a lot of money, a VoIP solution is by far an practical means for most small business users.

There is only one telecommunications solution that has the flexibility and capability to ensure business continuity and to keep business communications running in a major catastrophe — VoIP hosted PBX service. On the other hand, if you want business flexibility you should consider a small business package that costs more, but adds services like conferencing, a separate fax line, even an 800 number.

VoIP Phone Services- You also should to consider how easy-or how difficult-it is to install the service, both as a business option and for home use. If you are a internet shopper consider that most of the time you will be able to run across a discount code or rebate if you buy through a third party link.

To get started, there are some major players and most reputable VoIP providers in the small business and residential VoIP industry right now: Vonage, Packet8, and SunRocket. The quality and reliability of service has improved so much within the past year or so that a VoIP solution is now suitable and reliable enough for everyday residential and business use. Voip service plans offer voice over IP phone service, landline, long distance plans, cellular phones, cellular calling plans, broadband access to the Internet and a host of Internet and telecommunication services to residential, SOHO and small business customers nationwide.

The best way to choose a VoIP Business solution plan would be to search the better business bureau for complaints against the company, search Google reviews of complaints, opinions, or stop by a well rated VoIP forum and ask for advice.

Learn how a VoIP Business Solution can provide your company with huge savings when using a Business VoIP Solution.

Compare Business Bank Account Rates – How and Why You Should Compare For Highest Returns

If you have plans to start your own business or if you already own a business, then this article is going to save you more money. Once you start your business, you have to open a new business account so that you can send and receive payments. Banks offer some products for business like small business savings accounts, bad credit business bank accounts etc. But If you spot the best small business bank account, you can get GREAT BENEFITS AND SAVINGS for your business.

How to Choose the BEST SMALL BUSINESS SAVINGS ACCOUNT:

  • You have to analyze the interest rates offered by the various banks for the business savings account. In case if you had bad credit history before and have opened a bad credit business bank account, then you would get a much reduced rates for your savings with tougher norms.
  • If you have opened a business bank deposit account, then the interest varies based on the type. There are instant access deposit accounts, time deposit accounts and restricted access account. The instant access deposit accounts have instant access to your funds, but the rates offered would be much less. Some banks offer better interest for such accounts also. You have to find those banks to EARN MORE INTEREST RATES. In term deposit accounts, you have to deposit your money for a fixed term as decided before for which you will get good interest rates, but you will not get access to your funds during that term. Restricted access accounts gives good rates but with limited access.

What is the next step?

  • Find the interest rates offered by various banks and compare them. You can find the details of various banks in the websites.

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