If your bonus programme delivers less than 10% of a person’s salary potential, it will not really motivate behaviour change that is impactful. The potential earnings for any individual employee have to be great enough that they are willing to do what it takes to earn...
You should always run your business as if it is for sale. It results in a tighter run business. We have found that in good times, when the money is flowing, we tend to be less cautious about what we are spending money on. When things get tough and we tighten up our...
While this may seem obvious, if you are considering selling your business to one of your employees it is imperative that you share everything with the employee before they decide if they want to take over your business. Sometimes when selling the business to an...
To answer this important question try benchmarking your strategy against the following tests: 1. Do you have a meaningful competitive advantage? Is there something different about your offering v direct competitors, new sources of competition and potential new...
Many entrepreneurs have much of their net worth tied up in their companies. The trick is turning that stock into cash when it’s time to retire. But the BIG question is “when to retire and how?” Business owners begin thinking about Exit Planning when they start feeling...
It is our responsibility to determine how we spend our time. Stress related to time pressure is a symptom of poor self management. How you spend your day is a matter of setting priorities, planning and discipline in sticking to your planned schedule. If some...
Engaged employees are enthusiastic, committed to and inspired by their work. They are emotionally connected to the organisation and keen to give of their best. They are alert to issues /opportunities on behalf of the company. It will come as no surprise that research...
The Alternative Board really stands for "The Accountability Board" because that is what your fellow board members do for you – hold you accountable! However, this is not in the traditional sense of Corporate Governance, where Directors have fiduciary duties to the...
Delegating (not abdicating) P&L responsibility to your management team gives people ownership and accountability. They will think and behave more like business owners. My service department was spending several hundred euros every couple of months on rag cleaning....
My younger employees are not accustomed to taking notes in meetings. I told them that if they take notes and then come to me with a question, I can assume that they don’t understand something. If they don’t take notes, then I have to assume that a question is because...
Discover more by finding your nearest TAB Board facilitator.