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Small business advice for your start-up
| March 2011
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Leadership and Communication
Barry Moltz
Entrepreneur, author, consultant
Barry Moltz has applied his decades of entrepreneurial experience to help businesses of all sizes get "unstuck" and growing again. His books include "Bounce! Failure, Resiliency and the Confidence to Achieve Your Next Great Success," and "BAM! Delivering Customer Service in a Self-Service World." This month, Barry offers some thoughts on how small business owners can lead - and succeed - by example.
Expert Tips from Barry: Leadership and Communication | | Get a SCORE Mentor Now! Click Here |
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Q: When it comes to small business owners, what characterizes a true "leader"?
A: A leader is someone who can find financial leverage in a business. If you try to do everything yourself, you won't make money. Otherwise, your only choices are either to make bigger things or work more hours, and there are limits to both those approaches. |
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Q: What are three things a small business owner should do before hiring the first employee in order to establish a good foundation for that relationship and future hires?
A: Get over the idea that no one can do things better than you -everyone has strengths, but nobody has it all.
Hire people who complement what you do or know - That way, your team will be strong across all areas.
Look to referrals from colleagues - you'll have a better chance of finding people you want to associate with. |
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Q: Should money always be the starting point for keeping employees motivated?
A: You have to pay competitive wages, but remember people value work differently. Employees also want to know that they're contributing to the business and have control over their jobs. That means having the ability to make changes, or knowing that someone will listen to their ideas for change. |
Q: What are some simple, non-monetary motivators that you've found to be particularly effective?
A: Someone once said that instead of trying to catch employees doing something bad, try to catch them doing something good. In other words, never pass up an opportunity to praise good work. If you do it generously and legitimately, that positive reinforcement goes a long way. |
Q: Can a SCORE small business mentor be an effective resource in helping address leadership/motivation issues?
A: You can never go wrong with getting an expert perspective from someone outside the business. A SCORE mentor
will help take a fresh look at known issues and perhaps bring new ones to light. Along with assuring the owner that he or she is not alone in facing them, the mentor can also offer resources for dealing with these issues. |
Q: What's the best, most enduring piece of small business leadership advice you've heard or received?
A: To paraphrase the Clinton campaign slogan, "business is about cash flow, stupid." If you do an effective job with cash flow, you'll always have a successful business. |
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