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You are certainly in a tough spot. Seems as though you cannot afford to pay this person and you cannot afford to do without him—especially if he is working 60 hours a week. I don’t like being the one to tell you this; but the concern I initially had when [...]
Pay and recognition are two of the most important factors that impact employee morale, performance and growth. If your business isn't keeping up with market trends, you can run the risk of losing talented employees and turning away top prospects. A recent report by WorldatWork indicated that workers on average will [...]
Compensation is a mysterious process at many startups. Once an organization has scaled beyond a few people, some form of hierarchy is established -- even if the org chart is flat, someone (or some people) decide who gets paid what. Fortunately, the web has brought more transparency to the process. [...]
It’s the question that every company seems to be asking: How do you find and keep top talent? One of the biggest mistakes made by growing companies is rushing to hire someone without making certain that he or she is the right cultural fit. The next mistake is not taking the time [...]
Business moves at a breakneck speed today, and the price of that rapid pace is often a lack of time for learning. That’s why it was especially refreshing to hear Satya Nadella, Microsoft’s newly appointed CEO, recently speak about his passion for and commitment to continuous improvement, even with the [...]
Nine out of 10 of all the mission statements I read in business plans are wastes of time, paper or digital space. The rare one is a useful view into strategy or a helpful reminder about long-term goals. I read hundreds of business plans every year. I get to do so since [...]
Startups are not successful simply because they are founded with great ideas. What's important is the execution and putting in place the right people early on -- to shape the core values and mission of the enterprise. A core belief system helps guide a young company through its daily perils and pitfalls, serving [...]
In late 2013, Cowboy Ventures did an analysis of U.S.-based tech companies started in the last 10 years that are now valued at $1 billion. They found 39 of these companies, which they called the "Unicorn Club." The article summarized 10 key lessons from the Unicorn Club. Surprisingly, one of the "learnings" said that, [...]
Scott Jennings had two goals when he decided to open a restaurant after graduating from Arizona State University 15 years ago. First, he wanted a place that didn't feel corporate and would make employees happy. Second, he wanted something unique. "I'd worked in a lot of places in college, and [...]
We all have quirky tendencies when it comes to our food. They may pop up while we're cooking and mix a few ingredients that have no business being together, yet the food comes out amazing. They could show up in the way we eat our food, like my brother who dips [...]
Running a successful restaurant involves some crucial aspects beyond the obvious concerns of location, type of cuisine, rent and utilities. What matters most is your food, your staff and you, at the personal level. If done the right way, your restaurant will thrive and stay on top. Here are three critical factors that [...]
For restaurant owners, basic steps like reeling in costs can lead to success, while simple mistakes such as poor menu choices may lead to failure. For example, one restaurant my consulting agency rescued was spending an extra $2,500 a week on unnecessary food expenses. That is a lot of money [...]
