Socius Business Advisors Welcomes New Colleague
Socius Business Advisors is proud to announce that Bob Carmani has joined our group.
Bob is a lawyer, a successful entrepreneur, and now a business coach sharing his skills and experience. He has strong backgrounds in business planning, creation, and growth, and a special expertise in mergers and distressed companies.
Eleven Ways to Improve Your Business
1-Align resources to strategy. Every company has limited resources. Money, time, talent, etc. To achieve your strategic objectives, your resources, including human resources, must be in line with strategic objectives. Turn your strategy into action plans, prioritize them, give them what they need, and routinely evaluate and adjust your portfolio of projects. By making informed and timely decisions, assessing tradeoffs, resources, and new opportunities, you can optimize your investment.
2. Hire strategically. By understanding long-term workloads and capacity, companies can avoid inefficient hire-fire cycles, resulting in higher overhead, lost knowledge, and poor employee morale. Create resource plans to align your strategic recruiting and outsourcing with your long-term business objectives.
3. Stay on Schedule. Treat every facet of your organization as a project, and it is critical that you hold everyone to their schedule.
4. Collaborate and Coordinate. The sharing of timely, business-critical information allows you to smoothly complete tasks and deliverables, and to adjust activities quickly to accommodate project changes.
5. Tighten your supply chain. Strong partnerships with suppliers and service providers are critical. Keep relationships strong by leveraging your buying power with as few service providers as possible.
6- Rent a CFO-- At some point, a bookkeeper won't be able to keep up with your company growth, but you cannot afford a full time CFO. Don’t hire one. Rent one. A temporary CFO can be expensive, normally $1,000 or more per day, but it is worth the cost to focus your business and make it more profitable
7. Leverage partnerships. Strategic partnerships with local businesses will help you rise above the noise. Look to your own customers, vendors and suppliers first. You already know each other's strengths in terms of services, products and marketing, which will let you move more quickly.
8. Decide what to outsource. Most likely there are things you do today that cost you more that if you had someone else do them. Review your strengths, your capabilities and let someone else carry part of the load. Outsourcing a few tasks gives you time to focus on something else.
9. Shorten your to-do list. A to-do list is nothing but a wish list. A long to-do list leaves less time to focus on revenue-generating ideas. Instead, focus on the top three urgent tasks for the day. Learn to delegate to employees, too.
10. Promote continuous improvement. Organizations are increasingly standardizing their processes to improve operational efficiencies and more effectively manage project complexity. Constantly refine your processes based on your best practices. Your goals are lowered costs, faster cycle times, and increased quality.
11. For help in accomplishing any/all of these business improving processes...
Contact Socius Business Advisors- Today!
Eight Characteristics of a Great Leader
1. Trust & Respect
Many people who know nothing about leadership try to hard to be liked on a personal level and this leads to ineffective leadership as their goal of being liked interferes and weakens their role as leader.
2. Communication
A good leader tries to get the best out of their team by being understanding them, inspiring them and rewarding effort. A good leader never rules by fear. A good leader needs to stop anyone from upsetting the team reaching its ultimate goal and take swift decisive action when it does.
3. Enthusiastic
Leaders are there to motivate and inspire and people will respond to these character traits. Good leaders always have the character trait of enthusiasm about getting the job done. People will respect a person who shows hard work, passion and dedication.
4. Confidence.
If you are not confident you will not get anywhere as a leader. Most great leaders have a combination of confidence and humility. Confidence should not be confused with arrogance. Arrogance shows a non team player and will cause resentment.
5. A Cool Head
When things are going wrong you look for a leader to take control of the situation. No matter what the situation a good leader never loses his cool and this is critical to maintaining team confidence when the chips are down.
6. Focus on Key Elements
A good leader thinks analytically and can view the overall goal or aim, but also break down the sub elements of what needs to be done to reach the goal. They organize, prioritize and workout the smaller parts into a logical pattern to reach the ultimate goal in the best possible manner.
7. Motivation & Innovation
A good leader is always looking to improve and to innovate to get better results even when things are going well a true leader is looking to take himself and his team to the next level.
8. Improve Their Skills
A good leader will know they are not perfect (no one is) and they will be constantly trying to improve their skills and look at their past results no matter how good they were and see how they could have done better.
