Tag: Business Management

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Leadership Development: How to Promote and Grow Your Management Team

According to several independent studies, 80% of leadership positions have no formal training at all. If you run a mid-sized business and promote your management team internally (as the majority of the organizations out there), you likely fall into the majority of the businesses that grow organically. Management, along with leadership, is often taught “on the job”—without an MBA degree or background in economics to help you move forward. Leadership team development can help people. Your staff will go through an established and proven process evaluating strengths and weaknesses in an objective and non-harmful manner. Communication skills—along with other critical… Continue Reading
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Acquiring Digital Properties: Why, What, and Where to Buy

Today, we are discussing how to acquire digital properties: WHY, WHAT, and WHERE to buy.  I have been buying digital real estate such as agency websites, SaaS platforms, e-commerce applications, content publishing websites over the past 11 years. Some sites are well-established and successful while others are starter apps I integrate into my portfolio or bundle into existing solutions. Buying digital properties has definitely been one of the endeavors that I have been enjoying quite a lot. My Experience Buying Digital Businesses Some of the acquisition deals have turned into great business opportunities or just tangible investments that have led… Continue Reading
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8 Key Tips for Creating a Positive Work Culture

Creating a positive work culture is a critical element in the success of any company.  In fact, 94% of business executives and 88% of employees surveyed believe that a distinct corporate culture is critical to the success of a business.  Your culture at work can have a huge impact on the performance of your employees and the overall goals of the company in terms of: productivity creativity potential revenue value of the firm rate of growth Basically, your work culture plays an important role in attracting, retaining, and motivating employees. Creating a positive work culture: turns your office experience into… Continue Reading
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How to Build Trust and Loyalty as a Leader

Remember the old saying, "People don't quit jobs, they quit managers."?  It's similar when the people in charge are at fault.  Highly motivated and enthusiastic people, or people who want to make a change, give up because they don't feel their leadership sees the future in the best possible manner. That leadership does not take care of their interests or that leadership is not aligned with whatever the company promises.  About 79% of people would quit and seek new jobs because of bad leadership. In order to solve this problem, you want to make sure you're representing the best leadership… Continue Reading
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Mentorship – Invaluable Advice From Competitors

"Mentorship" is a vague term. Great mentors are successful industry leaders who are your indirect competitors (or at least a few years ahead of time). Someone may pick their own mentor when they are a public figure and consume every bit of information they produce. If you choose a mentor who is only a few years your senior in the same industry, the rewards can be just as significant. Their advice is more relatable and immediately applicable because they've just overcome the issues you're presently facing. Plus, their insights are contemporary, making them highly relevant. Virtual Mentors On mentorship by… Continue Reading
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Why Your Business Needed A Business Process Management (BPM) Software Yesterday

If your company hasn’t grown to a fully-fledged corporation yet, you’re probably terrified (if not disgusted) from all the enterprise lingo - workflows, procedures, contingency plans, risk management (to name a few). But scaling an organization is impossible without the implementation of business process management (BPM) practices in-house.  NASA tanked $327.6M through its Mars Climate Orbiter mission crashing the satellite in 1999 due to a software localization error. Some international horror stories such as Chernobyl could have been prevented with the right contingency plans in place. Let alone the COVID-19 spread we’re all victims of nowadays.  Case in point, business… Continue Reading
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8 Crucial Business Skills to Weather the Recession Storm

The current decade has been turbulent at best, challenging business paradigms, industrial practices, and biological presumptions across the planet. It begs the question: What is the successful route to developing resilient business skills for the years to come? From a global pandemic ranking near the Spanish Flu of 1918-1920 to worldwide lockdowns suffocating the travel and hospitality industries, through an overnight transition to remote work, a massive bump of cryptocurrencies, a housing market growing like crazy from Hong Kong to San Francisco to a global crash in 2022, businesses definitely had to endure a lot. Back to The Global Recession… Continue Reading
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The 4 P’s of Employee Relations and Conflict Management in the Workplace

Workplace conflict costs $359 billion in paid hours or 385 million working days annually. This is according to the “Workplace Conflict and How Business Can Harness it to Thrive” report. There were news articles about Apple employees having concerns about the ‘rigid’ rules in hybrid working, while Google’s people were frustrated about the ‘two tiers’ remote working. No wonder why in the month of April 2021, the Great Resignation started happening. Given the diverse range of expenses related to workplace conflicts, it becomes imperative for organizations to prioritize conflict prevention, early intervention, and constructive resolution strategies. By fostering a positive work… Continue Reading
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Critical Thinking Strategies for Business Leaders

Critical thinking is a powerful skill that's applicable in both daily life and running a business. However, managers and executives are in charge of large budgets and diverse teams. Irresponsible business decisions and ignoring risk management can harm a group of people and their families, in addition to other areas of business (partners and vendors). What Is Critical Thinking? Thinking critically defines the process of analyzing problems from scratch, relying on a combination of your background, the context of your organization, the distribution of your team, available resources, the global market, and any data you can tap into to reach… Continue Reading
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How to Handle New Clients When Overbooked

Complaining about an influx of prospects may sound ridiculous to many. But in reality, growing businesses *can* attract new customers if they need to, considering they’ve been in business long enough to build a reputation or a portfolio, save some capital, and explore a couple of channels that get the job done. In this case, it’s more about investing a lot more into the channels that work and restoring the long-term pipeline in exchange for a short financial hit. Additionally, ongoing leads are not uncommon—it’s the lineup of truly qualified and suitable leads ready to adhere to a specific business… Continue Reading