Small Business Management Tips and Best Practices

Siamak Farah

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Top Stories by Siamak Farah

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 all that can be planned. Then you keep all your staff rowing in sync, encouraging and guiding them around every turn, always focused on reaching the target destination. You make the row boat the best that it can be. However, throughout this journey, one fact remains: You control the row boat... (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)

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)

The Economic Squeeze

Today, many small businesses are caught in the middle of a situation that is governed by macroeconomics and broader market issues, and as such, there is very little control or correction they can apply to the business environment. On one hand, due to the economy, clients are not capable of absorbing higher prices and are always under pressure to reduce their costs of goods and services, which in turn puts pressure on revenues, forcing revenue to grow at a slower pace, and in the case of many companies, even flatten or decrease. One the other hand, companies' operational costs have ... (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)