Until recently, a business could expect to see, and know about, most of what was happening in the office. Communications with suppliers and customers were traditionally by letter allowing ready monitoring by partners or managers with time to review and consider everything that was leaving the building. However, the replacement of hard copy with telephone and email and rapidly increasing time pressures mean that employees are trusted with far more; the opportunity therefore arises for a disgruntled employee to cause damage and for this not to become apparent to the employer until a late stage.

Further, employees invariably have access to the firm's computer systems and have the power to cause real and widespread damage to a business in ways and to an extent that simply were not possible 10 years ago.

It is essential therefore that employers consider this potential. However benevolent the employer and however responsible the employee there will always be either fallings-out or dismissals even if for operational reasons. Employee sabotage cannot therefore be ignored. The question is how best to deal with this potential.

Jeff@marketmagic.com

As the owner of a family business, you may have more than a passing interest in the enclosed information.  It could help you avoid one of the primary family business errors.  Since you're a busy person, here's a summary of the information:

1. Less then 30% of all family owned businesses continue into the second generation and only 10% continue into the third.
2. The lack of an adequate plan for orderly succession is the number one reason for the failure detailed above.
3. The passing of the business torch from one generation to another does not come easily and must be a process as well as a commitment.

Jeff@marketmagic.com

Cut Costs To Increase Profit

What do you think is easier to do … reduce your expenses by 5% or double your sales?
I think most would agree that reducing expenses might be easier. Why, then, do most business owners spend little time on attempting to reduce expenses?
Consider this: Your current profit margin is 5% - if you reduce costs by 5% your profits double! Of course, you can do the same thing by merely DOUBLING your sales!
It is amazingly simple to reduce operating costs by a few percent by being diligent. This article will provide you with a listing of some of the specific ways in which operating costs may be reduced. You may find that you can reduce spending considerably by observing only a few of the suggestions. And remember, the small stuff adds up! Think about saving each time you spend and you will discover your own ways to save.

You have doubtlessly concluded your next level of
company performance requires a managerial change. And
hopefully, you have realized the changes necessary are with
you. As CEO (or, on a divisional or departmental level -
senior executive) your jobs include holding the vision;
inspiring your senior management and your staff; fostering
key relationships with customers, vendors, investors and
the public, etc. You now need to let go of some cherished
things like product design, hiring, perhaps day-to-day sales -
many things you handled in the past, often out of
necessity - and focus yourself on your role as CEO.
What about all these things you used to do? Delegate them.
Assign the job to someone else. This doesn't sound like a
big deal, why write a whole article on it? Do you delegate?
Of course you do. But do you delegate the important
things? The things you "know" you could do better? The
things you are "best" at? Probably not. The question is,
should you?

Each individual has a wide variety of tools that can be nurtured into success.
What makes successful people “different” from most people?  They know that success is a process, something they have the ability to control and direct.
They…
1. Set Goals and Stay Focused
2. Are Self Disciplined and Schedule Their Time Wisely
3. Are Enthusiastic and Positive
4. Are Self-Motivated
5. Are Honest
6. Are Selective With People
7. Care About Others
8. Care About Themselves
9. Promise Their Best and Over Deliver
10. Handle Their Money Wisely
Finally - Successful people realize that people never succeed at anything unless they have fun doing it.

Lead vs Manage
Category: Success (Business, Management)
Definitions
Lead - to guide or influence
Manage - to have under control
Comparisons
Inspire vs. direct
Example
Jill managed her work team by keeping tabs on their progress and helping them to be more productive. Harriet was a leader in her company: she saw new applications for the company's product and embodied the values of simplicity and effectiveness that the company stood for.
Key Point
To lead is to create something new, set the direction and articulate what matters most. To manage is to control, protect, or coordinate what you already have.
Benefits
Leaders can effect a greater change on others with less effort than can managers.