Small Business Management Tips and Best Practices

Siamak Farah

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Top Stories by Siamak Farah

A Company is a Team. If you don't have a team, one that employees feel a part of, I got news for you: You don't have a business, you just have a burden on your shoulders. The company will only run on your stamina, and the moment you run out of steam, well, so does your company. The team is so critical to the success of any business, that I am dedicating this entire article to it. Clarity is Priceless! You run the business, you have the vision, and you know what it is that you need at every step of the venture, yet there are times that the task at hand is fuzzy. If the picture is not clear to you, it certainly won't make sense for your team members who are looking to you for leadership. Be ultra clear on what you expect. A well-defined complicated task will be better executed than an unclear simple task. Be Brave - Admit your mistakes Traditionally, there has been a need... (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)

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)

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)