Operating a business can be a challenge, but in a tight economy it’s crucial to have a strategy for riding the rollercoaster. These tips will help you stay on track.
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From 1 April 2011, the 90-day trial period for new employees will be extended to all businesses. These provisions were tested in Court last year, so it’s important to understand what they mean.
Setting up a business without a plan is like travelling without a map. If you want to survive and succeed, your planning needs to be ongoing.
It can be difficult to keep a positive attitude when reduced demand is caused by an economic downturn, rather than an expected seasonal decline. Focusing on what is going well is vital during these times for the success of the business.
Share the knowledge around. Learning to delegate can reduce stress, improve staff morale and, by upgrading employee skills, open the way to your own upwards progress.
Opportunities exist for businesses to survive and prosper during hard times if entrepreneurs look beyond the present, see their business from a new perspective and do business differently.
Making employees shareholders gives them even more motivation to work hard, grow the business, look for opportunities and stick around through the lean times.
As visionaries, great leaders must keep in mind the needs of the individual to be able to influence and motivate their followers and build an effective team.
A business plan doesn’t have to be fancy to be effective. Developing one is worth the effort and will help you stay on track to profitable growth.