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Category Archives: Growth!
Have you made the mistake of hiring too soon?
Well, you may not be alone. Many executives and managers have made the mistake of using the financial and sales forecast to plan and execute hiring of new employees – so that they could be trained and up to speed … Continue reading
Posted in Growth!, Protecting the business
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The 18-month rule and a harrowing tale
It can take 18 months from initial concern about a critical employee to getting a replacement up to speed. Of course, I’ll tell another harrowing story here. But first. an old friend, Dick Tanaka, gets credit for the 18-month rule. … Continue reading
What’s a company board good for, anyway?
Some of you have gotten along forever without a board of directors, or used your spouse as the “other” board member from the start. But there are some very good reasons to build a great board composed of some outside … Continue reading
Posted in Growth!, Surrounding yourself with talent
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Avoid “The tyranny of the new office” syndrome.
One of the most obvious observations I make with growing company CEO’s is that planning for a new office is done with an optimistic view of the future, incorporating planned space that compromises only slightly the measured needs for the … Continue reading
Sign short term leases early on. Move as you grow.
Avoid long-term commitments. It is statistically true that at least half of the young companies funded by angel or venture investors will not survive three years from funding to demise, and more than that percentage will die with two years … Continue reading
Posted in Growth!, Hedging against downturns
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Niche marketing works. Here’s how.
How many of us throw away marketing dollars because our paid efforts reach an audience that is much larger than the target or niche audience we need to reach? Whether it be for publications, social marketing, or even those once-necessary … Continue reading
Posted in Growth!, Positioning
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How to make a small problem into a big one.
Allowing small problems to escalate into big ones is simple. Just ignore the signs for long enough and the job is done. It takes far more energy to review regularly the key performance indicators you’ve established for each individual and … Continue reading
Posted in Growth!, Protecting the business
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Would you pay a high achiever more than yourself?
Recently I was asked to review an offer letter for a senior director of business development. The CEO was concerned that he was offering far too much in the form of incentive compensation, with bonuses that could greatly exceed the … Continue reading
Hire as if your survival depends upon it.
Aside from visionary management, this is your most important job. Many of us go through the motions of hiring to fill a position, trying to use our intuition and skills to find the best candidate for the job. Sometimes we … Continue reading
Posted in Depending upon others, Growth!
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There’s no second chance to create first quality.
Let me illustrate this insight with a personal story. As my enterprise computer software company which produced innovative lodging systems for hotels and resorts grew quickly, we found ourselves straining to keep up with the hiring and training of good … Continue reading
