Small Business Management Tips and Best Practices

Siamak Farah

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Top Stories by Siamak Farah

Running a small business is like being chased by a pack of wild animals. Every one step you fail to take, they gain two steps on you. If you stop, you will be devoured. You must constantly be ahead of the pack and make every effort to increase your distance. How, you ask? Here are two small business management tips and best practices... Stretch your Resources Small businesses are notorious for never having enough resources. If you don’t have enough of something, it behooves you to use what you do have wisely and appropriately. The best way to do so is to have well-defined processes. Take the guessing game away from your resources. Once proven, processes can be repeated over and over flawlessly. In every process, you are asking your team to get to a destination. Imagine that instead of them looking around to find their way, you create a railroad track for them. Once ab... (more)

Control Is Overrated

When it comes to management, “Out of Control” is a compliment. It may seem counter-intuitive, but the more you control, the less you will succeed. In other words, unless you let go, you won’t grow. Especially in small business environments, there is a general feeling that if management does not keep it all in check, the business will fall apart.  For a moment, let’s assume that this theory is true. By this definition, the more management controls, the better work gets done. Expanding further, it then behooves us to give management control of everything to ensure it is done the b... (more)

Will Oligopoly Give Rise to a Fertile Ecosystem?

Oligopoly: A market form in which a market or industry is dominated by a small number of sellers.[1] Its parallel in political science, oligarchy, translates to power effectively resting with a small number of people.[2] A recent Forbes article entitled - "Cloud Computing Market May Become An Oligopoly of High-Volume Vendors"[3] - quotes Owen Rogers, senior analyst at 451 Research, who argues that with a few large players - namely, Amazon, Microsoft, Google, and IBM - offering similar types of services, the market may be in for a "Cloud Oligopoly." The interesting thing about mar... (more)

Worry Is Not a Business Plan

Whether you talk to folks on Wall St. or Main St., you find a common theme: everyone is worried about the economy. Unbeknownst to businesses, a storm may be looming right under their own roof, especially for small businesses where resources are constantly limited and reserves are low or non-existent. It is so easy to get distracted, inundated or even derailed with worry. However, speaking as a small business CEO, I have news for you: You can't afford to worry. Imagine yourself as the captain of a row-boat. You plot the right navigation course, check for the weather and plan for ... (more)

Sounds Like a Personal Problem

When an employee has to miss work because his wife is sick, or when another does not show up to work because her mother has to deal with a serious disease, if it sounds like a personal problem, it is. Yours! You are the CEO. The entrepreneur. Your passion fuels this business. Day in, day out, round the clock, you are thinking of growing and improving the company. You are 200% consumed by it and expect your staff to be as well. You need your team to stay late to meet a deadline, or come in early to deal with an emergency. You want them to think, live, breath the company to beat th... (more)