The Top 10 Reasons Businesses Succeed

Written by Jan B. King


The Top 10 Reasons Businesses Succeed

Only one of every 5 businesses makes it to its 5th year, and fewer still make it to 10 years. What dorepparttar successful businesses have in common?

1.The experience and skills ofrepparttar 104153 top managers. Over half of business failures are directly related to managerial incompetence.

2.The energy, persistence and resourcefulness (the will to makerepparttar 104154 business succeed) ofrepparttar 104155 top managers. Many business owners have failed or come close several times before their “instant” success. Don’t give up.

3.A product that is at least a cut aboverepparttar 104156 competition and service that doesn’t get inrepparttar 104157 way of people buying. There must be a compelling reason to buy;repparttar 104158 product is great,repparttar 104159 people love to provide service, andrepparttar 104160 buying experience is easy and fun.

4.The ability to create a “buzz” aroundrepparttar 104161 product with aggressive and strategic marketing. Make scarce marketing resources count. Do as much homework about your customers and their choices as you can before investing your marketing dollars.

5.Deal-making skills to sellrepparttar 104162 product atrepparttar 104163 highest possible price given your market. It comes down to your customers’ perception ofrepparttar 104164 value of your product and sometimesrepparttar 104165 power of your personality.

Five Essential Hiring Practices

Written by Jan B. King


The Five Essential Hiring Practices

Recruiting and hiring are often done in haste, leavingrepparttar company to repent inrepparttar 104152 long run. Today, there’s a reason to be concerned about negligent hiring. Negligent hiring means you and your company can be sued if one of your hires injures other employees, especially if you could have foreseen a problem but did not do a thorough check ofrepparttar 104153 new employee before hiring.

The following list of five essential hiring practices establishesrepparttar 104154 minimum you should follow:

1. Require outside testing. Allow a competent, impartial professional interviewer to administer both paper and pencil and verbal tests. Professional testing firms can administer valid psychological tests for intelligence, stability, even determinations of addictive or dishonest personalities, as well as skills tests of important technical abilities in your workforce. I find testing often validates a suspicion I already had but wasn’t yet ready to come to terms with.

2. Conduct a rigorous personal interview. This includes asking general attitude questions, how you would manage your boss questions, how you would manage your staff questions, questions relating torepparttar 104155 applicant’s understanding ofrepparttar 104156 financial workings of a business and your department’s role inrepparttar 104157 business’s overall success, questions relating torepparttar 104158 applicant’s ability to set goals and his or her expectations about achieving goals, questions relating to specific skills required forrepparttar 104159 job, and general communications required by repparttar 104160 job.

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