3 Things That Can Make or Break Your Business

TR_interviewSo maybe you’ve been in business for a few months, a few years, or a few more years than you’d like to admit. Whatever your level of experience or success, there are always going to be “traps” in the world of business.

Recently a colleague brought an article to my attention that had been written several years ago by successful entrepreneur and author, Jay Goltz entitled “Seven Deadly Sins”.  At first I wondered whether it would be worth my time, but after reading it, I was glad I did.

Here are a few of the things Goltz mentions which can truly make or break your business. Some changes may yield results fairly quickly and some may take some time to show results, but all of them are important to successful business ventures.

1. Wise Hiring

Goltz makes a point of saying upfront that hiring smart is something that requires “patience and skill.” It’s easy to be influenced by Bob Interviewee who says the right things, even though he may have no idea what your company even does. The bottom line is that following through on the little things like phoning references can make all the difference when hiring. I love what Goltz says about that long silence at the other end of the reference phone call when asked why Bob doesn’t work there anymore. It “tells me this candidate isn’t worth hiring.” Enough said.

2. Firing with Finesse

While it’s not the easiest, most pleasant thing to do, every entrepreneur must fire someone at some time in their career. If you want a great company, you need to have great people. And while the “nice and loyal” folks may be your favorites to stand around the water cooler with, they won’t further your business if they aren’t up to your desired caliber. How do you know if you should keep them around or not? Goltz gives this advice: “Would you be relieved if anyone on your team quit tomorrow? If the answer is yes, you’ve got a problem.”

3. Influential Branding

Most successful entrepreneurs realize this simple fact: They are branding their company with each customer or client interaction. Branding doesn’t just happen via a snazzy logo or website. As Goltz says, companies brand themselves in many ways. In turn, this influences customers. Some examples? Your signage, floor layout or even your customer service says volumes about who you are and what you can offer a customer. The question is, how are your customers and clients being influenced?

Read the entire article “Seven Deadly Sins”.

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