Sad as it may sound, the health of a business is not guaranteed forever.  Virtually all entrepreneurs will face the daunting task of managing the recovery of a failing business. Every business during the course of its existence will experience a near death experience. This is a period characterized by harsh business conditions; low sales, low morale, low cash, low market share, and low innovation. Some recover from this and bounce back stronger than before, and some don’t. There are many factors responsible for this near death experience; those that are self inflicted like; a major … [Read more...]

This is the second unusual article of the Management 101 series, in the first post we looked at how to organize your business for sustainable growth using 3 key managerial principles of culture, structure and execution. I discussed the first managerial principle of culture in the first post, in case you missed it, you can read about it by here; MANAGEMENT 101: How To Organize Your Business For Sustainable Growth. In this unusual article, we’ll be discussing the second managerial principle; structure. Structure: How To Systemize Your Business For Sustainable Growth The word … [Read more...]

  Every business has a way of operating that makes it completely different from any other business in the world. Ever wondered how some companies keep attracting and retaining high performing workers while others struggle to keep just a handful? Have you ever walked into some business premises and without being told, you could feel a sense of intense energy in the air? How come some workers find fulfillment at their place of work and others don’t? How is it that some businesses in the same industries do better than others? The answer to all these and so many more is management. … [Read more...]

In business as it is peculiar to most important things in life, there are certain fundamental truths you cannot do without in order to succeed.   For instance, everyone instinctively knows that long lasting success in any sphere of life is unattainable without handwork. In essence, hard work becomes an essential element in the composition of factors necessary for achieving success.   In the same way, there are certain “must have” pillars that are crucial to the success of every business. This is a matter of fact. When these fundamental pillars are lacking in … [Read more...]