Why Startups Should Consider 'The Bakery Model' When Starting Out. Before any startup can hit the ground running, it must answer a series of critical questions: Where and how should it generate funding? What its initial business model should be? How will it become profitable? The first question seems the simplest to answer, especially with the current entrepreneurial ecosystem full of venture capital funds, crowd funding and angel investors. The obvious way to secure a cash infusion is from one of these capital pots. But even outside of the tech world, the decision to use outside capital to fund a business can have major implications on your ability to succeed. Whether it be money from friends and family, an investor or a loan from the bank, external funds generally come with equivalent increase in external pressures. The rush to find investors can push entrepreneurs onto a path of no return that will eventually lead to yet another startup sob story.
Related: When Should You 'Turn On' Revenue With Your Startup? Product centric Easy measurement Independence. To Boost Your Business Treat Employees as Well as Your Customers. How well are employees treated in your small business? Are employees treated as well as your customers are treated? And, are all employees treated well, or are some employees treated better than others? When employees are consistently treated with trust, dignity, and respect, they respond in kind. They care about their company, their colleagues, and their customers. Employees demonstrate that care by serving customers beautifully, solving problems nimbly, performing effectively, and working cooperatively. You can’t expect stellar customer service from employees who feel distrusted and discounted.
You can’t expect consistent top performance from employees who aren’t compensated fairly, given deserved responsibility or who see colleagues not carrying their fair share of the workload. Related: This Food-Tech Startup's Secret Sauce: Employees First, Customers Second As employees are treated, so will they treat your customers. This philosophy pays great dividends. Here’s an example. Does money really motivate? How much does money matter? One of the most anti-climactic stories last week was the announcement by McDonald's its US workers were getting a pay rise. Of less than a dollar. And only 10 per cent of them were eligible for it. The chief executive explained the increase was driven by a desire to attract staff who were more motivated.
Let's see, then, whether he – and many others who think the same way – are right. Is money really a motivator? To begin, it's worth looking at a study published in the Psychological Bulletin journal last year. Extrinsic motivation is like marrying someone for money. Extrinsic motivation is anything tangible, such as the salary you pay your employees. Intrinsic motivation is somewhat different. (For a crude simplification, extrinsic motivation is like marrying someone for money.
Anyway, back to the study. But you can't go past intrinsic motivation if you prioritise quality over productivity. And yet I am momentarily incredulous. 5 Ways to Lead with Emotional Intelligence -- and Boost Productivity. Today’s Personality Tests Raise the Bar for Job Seekers. The Delaware North Cos., a hospitality company whose customer-service representatives help people plan vacations at national parks, sometimes struggles these days to keep 80 or so seats filled at its call center in Fresno, Calif.
—a city tied for the 9th-highest unemployment rate in the U.S. The company has no shortage of job applicants. But finding the right candidates has gotten tougher since the company started using a customized assessment last year to see how applicants stack up against top call-center workers in such traits as friendliness, curiosity and the ability to multitask. Managers said the new test, administered online, has reduced turnover and allowed Delaware North to more accurately select applicants who best fit the job. “Now we understand better what makes a great reservation sales applicant,” said Andy Grinsfelder, vice president of sales and marketing for the Buffalo, N.Y. -based company’s parks and resorts division.
Falling costs The tests, of course, are fallible. Mr. How to win an argument every time. Do you have emotional intelligence? It's crucial for great leadership - Philadelphia Business Journal. "Leaders with high emotional intelligence routinely check their behavior," writes Philadelphia leadership coach Kelly A. Meerbott. Kelly A. Meerbott, Guest Columnist What’s your vision of the ideal executive? Is it someone that loses his temper and yells at his team? Or someone who hangs over her team’s shoulders, micromanaging each aspect of their jobs? Perhaps a leader who ignores input from his team and just pushes through his own ideas? Probably not. Emotional intelligence Psychology Today describes emotional intelligence (also called both EI and EQ) this way: 1. 2. 3. Edward M. Win The Talent War By Getting All Your People Using LinkedIn. What makes an effective team?
The building blocks of an effective team. An effective team has a number of ‘building blocks’ in place: Clear objectives There are mutually agreed aims and objectives, everyone has a clear understanding of these. Balanced roles There is a good balance of skills, abilities and aspirations. Effective processes There are good processes for making, communicating, implementing and reviewing decisions. Good communication Meetings are productive and there is effective communication up, down and across the organisation. Appropriate leadership The team trusts the team leader and feels that it is led in an appropriate way. Support and trust People help each other by listening, evaluating, offering ideas, encouraging experimentation and giving support. Openness and conflict People express themselves openly and honestly. Mutual co-operation There is a readiness to be involved and committed. Individual development ‘Mistakes’ are faced openly and used as a vehicle for learning.
Sound inter-group relations. Here's What The Marketing Organization Of The Future Should Look Like. How Big Spaceship fosters creativity through organizational design. The internal structure is the most important thing about an agency, CEO of agency Big Spaceship Michael Lebowitz tells Mashable. It's important to think strategically about who you are hiring, but also how the organizational structure and physical space will play a part. Big Spaceship doesn't have creative directors, and it doesn't separate the agency physically by departments. "There is no template anymore," Lebowtiz says. "We need to make everything unique, custom, and — I hate to use this word — but bespoke every time. " And to do this, an agency — or a company of any kind — must think about how physical space can affect work behavior.
"The physical space is a canvas for the people who work here. You need to build as elastic a space as you can, so that there is a right space for the challenge at hand," "The physical space is a canvas for the people who work here. Clement continues, "I really believe that analysts are super important for one another. The US West Coast Port Debacle: Porter’s Five Forces at Work. On Friday, the Pacific Maritime Association (PMA) and the International Longshore and Warehouse Union (ILWU) announced a tentative agreement on a new five-year contract covering workers at all 29 West Coast ports.
This announcement comes after months of labor negotiations and West Coast port congestion that has caused widespread shipment delays felt across the nation and across industries. Courtesy of Michael Kelley My colleague Chris and I have included ongoing updates on the gridlock in our Friday news posts. This past Friday I referenced a Gizmodo article that included some truly remarkable photos of the congestion at the Ports of LA and Long Beach. This got me thinking about the longer-term prospects for the stakeholders of the West Coast ports. I have a personal interest in economics and business strategy; so I almost automatically look at the dynamics of these situations from the perspective of Porter’s Five Competitive Forces. AT&T: A Short SWOT Analysis.
AT&T, Inc. (T - Free AT&T Stock Report) stock has plodded along for much of the past year. The shares have largely traded sideways, missing out on the large bull market run many stocks participated in during 2014. The company’s performance has been bolstered by a number of factors, including good cost management, share repurchases and traction for its latest broadband, video, and IP telephone service, namely U-verse. But these positives seem to be mostly overshadowed by lackluster wireless subscriber trends and a myriad of bottom-line pressures. A transition to more-competitive mobile pricing plans has pinched the carrier’s margins.
The new discount plans, which include the popular “Next” program (it allows consumers to pay a small monthly fee for the privilege of upgrading their phones every year without a down payment), have reduced churn to record levels and been a blessing for wireless subscriber growth. Business Strengths Weaknesses Opportunities Threats Conclusion Visit us on: Albertsons » Our Mission. Employee monitoring: Do they know you’re watching? - Nashville Business Journal. Nathan Morgan | Nashville Business Journal Rob Bellenfant At its most basic level, employee monitoring is about making sure your team is committed and living up to your company's standards. This can be easy when you're a small startup, but you might find yourself less aware of each employee's actions as your business scales. When this happens, many companies turn to workplace data monitoring to keep tabs on their staff. However, there are varying levels of transparency when it comes to communicating these practices to employees, raising questions about how much employees know and how they feel about certain practices.
The TechnologyAdvice research team recently conducted a nationwide survey targeted at office-based workers between the ages of 25-54. The results show that most employees are comfortable with common monitoring practices such as Internet logging and computer tracking. However, there's also widespread discomfort with the idea of cellphone monitoring.
How a 'Romantic' Workplace Culture Brings Out Employees' Best. Are your employees in inner exile or ready to exit? Only 13 percent of employees worldwide are “engaged” at work, according to a recent Gallup poll. And even when they are, loyalty is fickle since talented professionals have become the serial daters of the job market: A Georgetown University study showed that millennials switch jobs some 6.3 times between ages 18 and 25. So how do you create a company that people love to work for? How do you make them stay and give their personal best? Related: 5 Ways Work and Love Can Be the Same Thing Ideally, employees bring their complete selves to work beyond a transactional, benefits-driven relationship with their employer. For today’s knowledge worker, Maslow’s pyramid has turned into a flat hierarchy of needs that all apply at once: material rewards and meaning, recognition and impact.
Sure, benefits and perks can’t hurt. The noblest purpose will remain shallow without the accompanying intensity of emotions. 1. 2. 3. 4. Interview of Sheryl Sandberg.