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Five strategies to ensure family business success PDF Print E-mail
Written by Henry Hutcheson   
Thursday, 13 November 2014 10:14

Family businesses outperformed nonfamily businesses during the boom years leading up to the 2008 recession, and during the 2001 and 2008 recession years, according to a Harvard Business Review study. Nonfamily businesses, therefore, can learn a lot from family businesses.

 

Family businesses were less likely to layoff workers during the lean times and more likely to maintain their emphasis on socially responsible programs. But that’s just the businesses that survived. Many closed their doors.

 

The factor that enables family businesses to rise to the top is trust: Family members can potentially trust one another far more than nonfamily members. But trust can erode – when a family member can’t or won’t perform at the necessary level; when there’s a sense of entitlement; drug abuse; laziness. And that can have serious, business-killing consequences.

 

If the business is professionalized, there will be a way to deal with those issues. But too often, safeguards are not in place.

 

Hutcheson offers five top success strategies for family businesses:

Last Updated on Thursday, 13 November 2014 10:24
 
Top three reasons 3-D printing will transform the manufacturing industry PDF Print E-mail
Written by Chris Elsworthy   
Wednesday, 12 November 2014 15:34

Last month, UPS announced it was expanding 3-D printing services to nearly 100 locations across the U.S., making 3-D printing accessible to startups and small business owners. This initiative combined with a recent poll conducted by The UPS Store not only shows how small business owners have a high interest in the technology, but how 3-D printing is transforming the manufacturing industry as a whole. As we’ve seen the positive impact that 3-D printing has had on industries like automotive and medicine, 3-D printers can likewise help small businesses in the near future, due to their affordability, convenience and creative nature. Here are three leading reasons why:

Last Updated on Wednesday, 12 November 2014 15:38
 
Doing business the Eleanor Roosevelt way PDF Print E-mail
Written by Jen Lawrence   
Wednesday, 12 November 2014 15:26

Eleanor Roosevelt wrote "You must do the thing you think you cannot do." While she was encouraging personal boldness, the message is also applicable to corporate life. In 2010, Audi stated its bold goal of “becoming the leading brand worldwide in the premium car segment.” They aimed to overtake BMW, who has held the No. 1 sales position for the last decade, by 2020. This audacious goal has helped increase their overall performance significantly — courage pays off. Here are six ideas for bringing Roosevelt’s sense of bravery to the job:

Last Updated on Wednesday, 12 November 2014 15:32
 
Are you trying or training? PDF Print E-mail
Written by Marvin Montgomery   
Monday, 10 November 2014 08:45

Albert Einstein said that insanity is doing the same thing over and over again and expecting a different result. Are you trying to get better or are you training to get better?

Last Updated on Monday, 10 November 2014 08:47
 
How to answer the dreaded “Got a Minute?” PDF Print E-mail
Written by Edward G. Brown   
Friday, 07 November 2014 00:00

Got a minute?

 

The fact is, unless you are a great rarity today, you not only don’t have a minute, you have a yawning deficit of minutes. There is work unfinished on your desk. You have personal aspirations of all kinds that you never find time for and obligations you barely find time for. You’re already stretched for time; so no, you don’t have a minute.

 

Yet when almost anybody asks, “Got a minute?” you automatically answer, “Sure, how can I help?”

 

How do you stop doing that?

Last Updated on Monday, 10 November 2014 08:39
 

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