From an executive coach, mentor and peer to peer adviser we hear about where business owners, managers and entrepreneurs should focus their energy in business management. Pick up a tip on how to determine priorities and manage time better. Then ponder what is the best thing you can do for your employees and yourself.
WHAT YOU’LL LEARN FROM DAVID HABISCH, EXECUTIVE COACH, VISTAGE PEER ADVISORY GROUP CHAIR AND MENTOR
WHY DO SOME BUSINESS OWNERS/MANAGERS SUCCEED WHILE OTHERS FAIL? (2:47 in)
In David’s words – Those that get on top of the business are generally much more successful. Work on the business instead of in the business.
Tip – Have a vision, be able to revise that vision when necessary. Be comfortable in stepping outside of day to day activities to move the business forward.
WHAT SHOULD AN ENTREPRENUER HAVE IN STARTING A BUSINESS? (3:43 in)
In David’s words – Set down 1 and 5 year goals. Lay out a plan. You have to have a low risk tolerance because you’re willing to put it all on the line.
Tip – Have plenty of capital to start. Be fully committed. Seek advice in running a business if you haven’t done it before.
IS THERE A BETTER WAY FOR CEO’S, MANAGERS TO ORGANIZE THEIR LIFE? (8:15 in)
In David’s words – Do a to do list the night before you go back to the job the next day. Don’t open your email (first in the morning). Be proactive rather than reactive.
Tip – Give first priority to handling those things that are important to grow the business.
WHAT BUSINESS MANAGEMENT STYLE IS MORE EFFECTIVE WITH TODAY’S WORKFORCE? (9:30 in)
In David’s words – I believe in the participatory oligarchy.
Tip – Don’t let fondness for your employees get in the way of making hard decisions when they need to be made.
WHAT DON’T MANAGERS / OWNERS DO WELL? (10:53 in)
In David’s words – We don’t fire the right people.
Tip – Firing underperformers will make you and your employees happy. In the long run it will help the person being let go as well.
WHAT SKILL IS MANAGEMENT NOT PAYING ENOUGH ATTENTION TO TODAY? (15:49 IN)
In David’s words – Leadership. You need to be knowledgeable about how to lead $15 an hour employees as well as a $100,000 employee.
Tip – Determine and define what leadership means to you.
HOW IMPORTANT IS A MANAGER’S PERSONAL LIFE IN ACHIEVING BUSINESS SUCCESS? (17:54 IN)
In David’s words – Take the vacation. You will think more clearly.
Tip – Don’t end your business life in regret for not spending enough time with your family.