BizMove Management Tips

How to Improve a Business | Improve Business Performance | Improve Company

BizMove business management guides

 

How to Improve Your Business


1. Know your personal values.

What's most important to you personally? When you know your values, you'll better filter new information and opportunities and can rely better on your intuition because you know what you're hearing and how it fits in with you.

2. Get candid input from at least 5 other people who know you well.

While it's nice to get input from experts, it's as valuable to get points of view from colleagues, family members, key employees who know you -- they know your tendencies, your moods, the way you think, your blind spots, your passions. Let them guide you.

3. Have a really big, big picture.

When you know your long term goals, have a vision or have a helicopter view of the current situation or opportunity, you'll be "seeing more" and thus have more information on which to base your decision.

4. Always have a Plan B, Plan C and Plan D ready to go!

You can improve your good judgment by having back up plans, whether you need them or not.

5. Don't put yourself in situations where you are forced to rely too much

on your "good judgment." This one is important. After all, shouldn't you be enough ahead of the curve to have been making good decisions along the way so that having "good judgment" doesn't become critical? Don't confuse good judgment with crisis management.

6. Separate the facts from the interpretation of the facts.

There are very few facts that aren't also coupled with someone's (even your) interpretation of the facts. Either sales are down 20% or they are not. An explanation is just that. There are great explanations, few of which are worth banking your business on. If sales are down, assume they'll stay down until you do something about it.

7. Always include a worst-case scenario -- and make it a really bad scenario.

For a decade or two, Detroit kept factoring in worst-case scenarios, yet they continually came up short because they took incremental actions based on what they wanted to believe would happen, not what was so clearly a long-term trend of foreign-made cars slicing up their market share. Living in denial is always expensive -- yet we all do it. A good way to get out of denial is to assume that sales will drop 50% in the next year (think Volkswagen) and "be ready" for that possibility. Just by including that option and developing options at that level, one will make a better decision about what is more likely to happen.

8. Always look at the downside of every decision you make.

If you're adding a new product, increasing the customer service budget, reducing overhead, permitting use of your name/trademark, entering into a co-venture agreement, make a list of the 10 potentially negative and even deadly consequences of even a no-brainer/excellent change. Everything affects everything today -- and unexpectedly. If you respect this ecological truth you'll realize that every decision affects, in some way, you, your employees, your shareholders, your profitability and your viability.

9. Seek to enhance your reputation first; bottom line second.

I used to base most of my decisions on whether or not my company would make more money. But than I realized that the future of my business came from my current customers, their word-of-mouth and from the press we were beginning to receive from the national media. At that point, it occurred to me that if I'd just invest more money in our reputation and make my decisions based more on reputation than quarterly profitability, I'd be a lot more financially successful --- and more proud of my company, too.

10. Hang out with others who have excellent judgment.

There are so many subtleties about acquiring and developing good judgment that most of the process comes best from friends, colleagues, competitors and staff who already have great judgment. Learn from them, in every conversation.


Other Topics in the 'Business Management Hacks' Section


Sidebar: you are invited to visit our car insurance information section featuring a list of articles that may save you hundreds of dollars on your motor vehicles quotes. In full coverage auto insurance you'll discover helpful tips to getting cheap quotes. For information on how to get cheaper quotes on shorter terms see one month car insurance and also short term car insurance. For first time drivers information see cheap car insurance for new drivers. How about obtaining cheaper premium rates for mature women? no problem, look here, best insurance for new drivers over 25 year olds.

If you are interested in a half year duration see 6 month car insurance for helpful tips on the topic. How about getting more favorable premiums costs for younger drivers? see car insurance for 17 year olds and motor car insurance for under 21 and vehicle insurance for male and female under 25 years old. Here is another list of drivers insurance useful articles, As for helpful tips regarding no deposit premium payments see car insurance with no deposit and for a list of low cost brokers, agents and companies see car insurance with no deposit companies. Read the following informative article if you are looking for better rates for the young drivers in your family, cheaper vehicle insurance for young drivers. Now, for discovering new ways to get lower quotes go to general car insurance Read this article if your after high risk car insurance information.

How about getting a better deal on first time driver? just click the link. It may come a time that you'll be interested in canceling your policy, use this article for the instruction of how to do it. Our drivers insurance hub page features a list of guides that can surely help you get dirt cheap car insurance for teens drivers rates. For those of you who seek cheap quotes for a shorter term policy, read this article. and here are tips and advice for special interest groups such as young drivers and temporary insurance.

If you have first drivers in your family look here for useful advice regarding cheap drivers first car insurance on getting very very cheap car insurance quotes, other types of policies can include the following: no deposit car insurance, pay monthly, insuring classic cars for young drivers, getting better deal on cheap liability car insurance cost, locating good rates for new drivers. how about if you are interested in pay as you go auto insurance? yep there is a guide for you. And here is a list of car insurance companies cheapest. And the list concludes with a way to calculate car insurance estimate without personal information.

Disclaimer: While every effort is made to ensure that the content of this website is accurate, the website is provided “as is” and Bizmove.com makes no representations or warranties in relation to the accuracy or completeness of the information found on it. While the content of this site is provided in good faith, we do not warrant that the information will be kept up to date, be true and not misleading, or that this site will always (or ever) be available for use. Nothing on this website should be taken to constitute professional advice or a formal recommendation and we exclude all representations and warranties relating to the content and use of this site.

Copyright © by Bizmove. All rights reserved.