Nov. 6, 2017—To better assist shop owners with their production management, marketing tactics and leadership styles, Ratchet+Wrench has compiled a short list of essential business-building material from some of its favorite sources.
Being a business owner can be stressful, but the sooner you learn small business stress management, the better off you will be. Combat the stresses of being a small business owner by following the five tips mentioned in this Entrepreneur article.
As the industry faces a shortage in talent, try to focus on the staff you currently have and don't rush into hiring more people. Wait until the "just right" person comes along. This will ensure you avoid turnover and lower employee engagement.
Feeling appreciated and receiving recognition are not the only things that inspire employees to be committed to your business. There are three aspects you must take into consideration to increase employee engagement. Find out what they are from this Forbes article.
Most business owners articulate their business's purpose to employees and customers, but few of them have made that purpose a reality. You must make strategy the servant rather than the master. Strategies are time-bound and target specific results. Your purpose, in contrast, is what makes you durably relevant to the world. Strategy is but one of several important means to operationalize your purpose.
Whether it’s due to hiring freezes, small development budgets, or simply not having a clear development path, many companies struggle in their effort to develop employees. Focus on integrating development into everyday activities to help improve employee satisfaction and retention, while keeping your own talent pipeline full.