With the unemployment rate at 4. If this happens, you could lose your best people even as your need for their services increases while your company seeks to satisfy growing customer demand. The combination of losing talented people and rising revenue could threaten your company's profitability and even endanger its reputation. Create a compelling culture. Small companies offer talented people a chance to make more of a difference than they could in a large organization. You should spend 20 percent of your time creating and cultivating a culture that attracts and motivates talent.
Pay referral bonuses. You can boost the odds of keeping your best people and bringing in new talent by paying bonuses to employees who refer new people your company hires. Build an onsite health club. Another way to keep employees happy is to provide them with a place where they can exercise during the day. If you don't operate an onsite health club, give employees membership discounts at nearby clubs or open one in in your building.
Even though money is not the primary motivator for employees, people still need to pay their bills. Moreover, inflation is likely to increase, which will put more economic pressure on your employees and make a higher paycheck more compelling to your talented people.
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Our comments are moderated. You can start by working in a study or spare room, but if you need more space — for example when you hire workers — you can look at Armstrong Steel buildings to create a building in your yard that you can use.
It could be an office or storage, or a combination of both. Your home stays work-free and you have an inexpensive work area outside.
A business without a website just seems strange today. As mentioned above, websites can be created relatively cheaply, and it will depend what kind of hosting packages you want to have that will set the price for you. The second piece of the puzzle is cashflow projecting and budgeting. The best budgeting software for small business owners is You Need A Budget. No bull. I use it regularly, multiple times a week, for both business and family expenses.
For bonus points, and to make it seriously powerful, combine it with all of the principles in Profit First by Mike Michalowicz and start to see a guaranteed profit in your business every quarter. Unless that is your job, of course. Find a cleaner that charges less than you do.
High five on your first outsourcing gig. There are tons and tons of free resources out there. My current free favorites are iTunes U, Longform for diverse erudition and the Khan Academy for catching up on what I should have been paying attention to at school. But if you want to commit to learning, the bigger your commitment, the bigger your learning — largely.
A well-chosen second-hand paperback may teach you a lot more than a crappy retreat. By spending money on anything , you enter a different level of contractual obligation. So it is with learning. Select your mentors carefully, be exigent about what you expect and pay for the privilege. Clothes, by and large, are too cheap. Here in Malta, which is like a Coney Island of the Med, you can spot the British tourists from paces by the quality of their threads.
A horrible, snobbish thing to say, I know, but compared to the immaculately tailored and coiffed Italians and Maltese, they stick out like a polyester birthmark.
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