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Apart from the gruelling task of managing employees by viewing them as individuals, entrepreneurs must adopt the most effective small business management styles. Appropriate management styles contribute to an organization’s growth and development. The right style promises to solve the problems in the organization, enhance employee satisfaction, and increase productivity.
But which is that management style that will ensure that these returns are guaranteed?
There are three primary management styles you have to choose from. Let’s talk about the pros and cons of each. (more…)
Mаrk Cubаn is one of America’s most widely-known entrepreneurs. He hаѕ an аnѕwеr to thе world’s есоnоmiс ѕtimuluѕ рlаn. He also wants to hеlр by hеlрing реорlе tо think more entrepreneurial аnd оffеrѕ some small business ideas fоr ѕtаrtuр buѕinеѕѕеѕ.
He iѕ оn the right trасk. Thе ѕрirit оf thе еntrерrеnеur аnd thе рiоnееr is thе driving fоrсе behind whаt it is tо bе аn Amеriсаn. It iѕ part оf оur hеritаgе. Hiѕ plan iѕ worth lооking аt fоr those who hаvе аn idеа for a buѕinеѕѕ or аlrеаdу have a business and whо need invеѕtmеnt сарitаl tо fund it. (more…)
Steve Jobs, the founder of Apple, is one of the most successful entrepreneurs the world has ever seen. He is also a good role model and source of small business ideas for young entrepreneurs who are thinking of building a startup.
Regardless of whether you are running a small business or a large one, the rules to small business success remain the same. Entrepreneurs can always follow Steve Job’s methodologies and ways to get success in their startups. Let’s have a look at those fundamental principles that made Steve Jobs successful: (more…)
Chances are, you have a pretty good handle on the things that are most important to your small business and the industry you’re in. You’ve most likely identified a trend, problem, or opportunity and built a small business idea to address those needs in the market.
However, it is also important to keep an eye on bigger-picture small business trends that affect you as an entrepreneur and small business owner. In addition to the things affecting your small business and the industry you play in, there are a number of macro trends that every entrepreneur should be aware of.
Here are three current small business trends that are of particular important to small business owners in the process of taking their enterprises to the next level: (more…)
Incubators are an important trend in the startup world. Especially in technology hot spots such as San Francisco and New York, select small businesses take parts in these startup communities as a way to gain contacts, mentoring, infrastructure, and education to guide them on their journeys to small business growth.
While incubators can offer advantages to participating startups, they are not for everyone. In addition, although much media attention is given to startups permeating the startup community, they are not critical to the success of startups and small businesses. Just as is the case with any hot trend or topic with media buzz, it is important to understand the reality of incubators.
Here are a few important things to keep in mind when considering whether or not your startup or small business should pursue involvement with an incubator: (more…)
Earlier this week, we posted a blog outlining three reasons why small business growth is good for entrepreneurs and business owners. To summarize, the reasons are because you’re dying if you’re not growing, growth is the only way to create real wealth for yourself, and it’s the right thing to do (read the entire blog here).
While these are certainly valid points, small business growth is also a double-edged sword, with several risks and downsides. Starry-eyed entrepreneurs with grand visions of becoming the next big thing may not think about these challenges, but they are important to consider as you chart the course for your small business: (more…)
It’s not often that a reality show can provide meaningful small business lessons for entrepreneurs and business owners. There is one exception to this rule.
In addition to the antics of Donald Trump and celebrities as diverse as Flavor Flav, Gilbert Gottfried, and Donald Trump, several years of the TV show Celebrity Apprentice have brought many lessons for small business owners and entrepreneurs. Even though the show is well-scripted and staged for a reality show, it still provides several takeaways that we can apply to our small businesses: (more…)
One of the primary challenges of entrepreneurship is the fact that small business owners need to possess so many skills and wear so many hats in order to realize sustained small business growth. On the one hand, they are required to be the visionaries for their new business or startup, while at the same time they are required to be a detail-oriented executor who can rally his or her organization to get things done effectively.
This is one of the key reasons why so few entrepreneurs are successful at the various stages of small business growth, beginning with the startup phase all the way through sustained growth and, if things go well, becoming a large organization. While entrepreneurs such as Bill Gates and Mark Zuckerberg provide case studies of those that can adjust and make the transitions through the various phases of growth, the reality is that most small business owners don’t have the personality types, skills sets, or interest in doing so.
Regardless of which phase your startup or small business may be in, there are a number of key roles that you need to fill as a small business owner. The skills and focus required for each of these roles are varied, which is just one reason why managing a small business can be so difficult.
According to the book The E-Myth Revisited by Michael Gerber, there are three key roles that small business owners must fill on a day-to-day basis: (more…)
Innovation. Creativity. Delegation. Empowerment. Flat organizational structures. These are just some of the management styles that most academics, journalists, and the Small Business Administration will tell you are “right” for small businesses, startups, and even large organizations.
These management styles all sound great. After all, who wouldn’t want to work at a place where there is unlimited creativity, bosses don’t get in the way, and you’re allowed to make every decision for yourself?
However, small business management isn’t quite that simple – especially if you plan to grow or scale your business with any success. In fact, these flavor-of-the-month management styles are often times the worst possible formula for certain situations.
Before we get into that discussion, though, it is helpful to first understand the two primary general management styles available to small business owners: (more…)