Articles — Management(5)

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Lack of Self-Care Can Hurt Your Business

Dr. Linda Hancock Business Management

Sometimes people are involved in high-risk activities or wear themselves out by ignoring their basic needs. Over time these can lead to compromised health situations for them and result in strong liability phenomena for your business. There are several choices people make that can hurt your business: Lack of sleep and rest - When people have stayed awake for too long or get inadequate sleep for a period of time, they are not at their physical or mental best. In fact, they might even be classified as impaired. Think of times when you perhaps drove to a certain place and...

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Too Much Play Can Hurt Your Business

Dr. Linda Hancock Business Management

Everyone likes to have fun and be able to focus on activities that are relaxing. But if you are spending so much time on the golf course or away from the office, you might have some serious regrets in the future. Sometimes people in business become deceived about what truly builds the business. They think that entertaining potential customers with expense account "treats" is the best way to increase sales. As a result, plans are made to offer the prospect many fun opportunities that they might not otherwise be able to try. Invitations for fancy dinners in private clubs, regularly...

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Having Too Much Staff Can Kill Your Business Success

Dr. Linda Hancock Business Management

Sometimes we think that having a lot of staff will be helpful in the business. Unfortunately, if you are the only person who can bill for fees that staff is not making your time more efficient, staff is a liability that just lulls you into financial problems. I know a physician who earned half a million dollars last year. He is completely debt free and would dearly love to have more time for himself and his family. He works extremely hard but just can't seem to get out of the loop that he has created. We reviewed his situation and...

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Organize Your Staff or Your Business Will Suffer

Dr. Linda Hancock Business Management

It is not enough to hire people and then just leave them on their own to do whatever they think is needed in your business. You need to be the leader and that requires several things. Orientation - Invest some time with the new staff member to share your values and the things that you feel are important. Even if the person you hired has experience and skills, they will need to have enough training to be able to perform tasks in the way that you want them to be performed and at the appropriate standard. 2. Monitor their progress...

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Constructing Efficient Systems - Daily, Weekly, Monthly, Quarterly, Yearly

Dr. Linda Hancock Business Management

Habits can be formed in a matter of weeks and it is therefore important that you plan and develop specific checks and balances so that good habits are formed in your business. Have a list of things that need to be done on a regular basis and then ensure that you do them according to the time frames listed. DAILY: 1. Do all your paperwork - it is easier to do this when thoughts are fresh in your mind and less stressful than facing a desk full of things that need to be finished.2. Prepare and deliver your bank deposit...

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