Ethics and your business

 

Your business can suffer from perceived unethical behavior on your part, or that of an employee. It does not have to be real or illegal to hurt your business. Some of the illegal things are bait-and-switch, harassment, discrimination for various reasons or employee intimidation. Unfulfilled verbal agreements can be illegal, but even if they are not, the word spreads and your business can suffer.

 

So what do you do to minimize these issues? You develop a detailed business guide and be sure all employees and associates get it. You live by it yourself as well.

 

Steve Koenig, SCORE Counselor

Visit us at: www.scoresouthflorida.net

 

 

50 Don'ts to Build Your Business #5 of 5..LAST OF THE SERIES

 

           

50 Don’ts to Build Your Business #5 of 5 LAST OF THE SERIES

 

41. Not staying in touch with customers or top prospects thru newsletters, email, occasional calls, even letters.

42. Not reading widely in books on business, marketing, and people management.

43. Not reading enough biographies. (Learning about the setbacks other people have overcome can’t help but strengthen you).

44. Overselling the virtues of your product.

45. Overselling the virtues of a job or your company to a prospective employee (they’re going to find out the truth the day they start).

46. Trying to do everything yourself: not delegating non-core tasks (e.g. Web development, maintenance)

47. Not pursuing international sales. With borderless Internet communication and global supply chains, there’s no reason you can’t target foreign markets.

48. Putting things off.

49. Being depressed by this list.

50. Instead, it’s meant to inspire you by encouraging you to acknowledge your mistakes and start fixing them. MISTAKES ARE OPPORTUNITIES WAITING TO BE SEIZED!

 

Hope you got something from the series…100 do’s and don’ts.

 

Marty Kahn, Score Counselor

Visit us at: www.scoresouthflorida.net

 

50 Do's to Build Your Business #5 of 5

 

 

50 Do’s to Build Your Business #5 of 5

 

41. Understand the amount of debt your company can live with.

42. Never underestimate how much financing the sellers of a business might provide when you buy their company.

43. Always have a partnership agreement.

44. Manage clients’ expectations.

45. Double-check time charges from Consultants or time-tracked employees.

46. Negotiate with suppliers to get prices lowered.

47. Understand that someone, some day will probably sue you, so always carry Liability insurance.

48. Build good relationships with police, politicians, and regulators.

49. Document everything.

50. Dream large.

 

This is the last of the 50 Do's. Watch for one more Don't in the series.

 

Marty Kahn, Score Counselor

Visit us at: www.scoresouthflorida.net

 

 

50 Don'ts to Build Your Business #4

 

50 Don’ts to Build Your Business #4

 

 

31. Not getting help perfecting your pitch. (Ask for feedback from friends, or colleagues, or consultants)

32. Treating all employees the same.

33. Not focusing on your core business challenges-driving yourself and everyone crazy by always chasing the next shiny object.

34. Feeling you have to know EVERYTHING, instead of asking people for help and advice more often.

35. Not setting up an Advisory Board focused on your business and its needs.

36. Not keeping proper financial records. (No shoeboxes)

37. Not articulating the mission, vision, and values for your company.

38. Charging too little for your time, products and/or services.

39. Putting off asking for the order.

40. Fear of raising prices (Losing price-sensitive customers isn’t always a bad thing).

 

 

Marty Kahn, SCORE Counselor

Visit us at: www.scoresouthflorida.net

 

 

Safety

All small business must be concerned about safety, safety for yourself, your employees and your customers. Here are a few things to help:

 

Your Insurance company can help. Ask them.

Check the web site for the US Occupation Safety and Health Administration

www.osha.gov/SLTC

 

Your Fire Department can help. Ask them to check your business.

 

Compliance with health regulations may be needed for certain businesses as well.

 

Keep your business safe.

 

 

Steve Koenig, SCORE Counselor

Visit us at: www.scoresouthflorida.net

 

 

50 Do's to Build Your Business #4

50 Do’s to Build Your Business #4

 

 

31. Always hiring people who are good fits for their jobs.

32. Fire bad employees.

33. Always pay attention to good grooming and dressing. (You will never know the business you didn’t get).

34. You’ll get your best business ideas when you’re relaxing, running, or playing with your kids.

35. Always remember you are not the only game in town.

36. Be certain your planning allows enough time to become profitable.

37. Always be confident. Confidence matters.

38. Recognize that top performers for others are not necessarily going to be top performers for you.

39. Carefully monitor your receivables, never assume.

40. Use vendors as a source of cash during cash shortages.

 

 

Marty Kahn, SCORE Counselor

Visit us at: www.scoresouthflorida.net

 

50 Dont's to Build Your Business #3

 

 

50 Don’ts to Build Your Business #3

 

21. Thinking of all competitors as the ENEMY rather than potential allies or joint venture partners.

22. Not listening to the marketplace. Often the world is sending you clear signals, but the message isn’t getting through.

23. Expecting government assistance or even subsidies.

24. Not taking advantage of business-advisory sources, like SCORE or the economic development office.

25. Not joining peer groups of like-minded entrepreneurs to share experiences, problems, and solutions.

26. Dismissing Social Media when it’s an incredible, necessary tool for building your business.

27. Hiring people who are just like you, when people LESS like you can add more diverse skills that your business needs.

28. Not measuring the results of your marketing efforts.

29. Under-investing in marketing.

30. Waiting for a “Savior”-the perfect commission-only salesperson to appear and bail out your vision. Stop waiting and start selling!

 

Marty Kahn, SCORE Counselor

Visit us at: www.scoresouthflorida.net