You are running a FAMILY business

To SME Owners,

Firstly let me say to you, well done, it takes big -------, to have family to rely on.

Watch out for these common mistakes,

-Blood and business usually do not mix( yes there are always exceptions!)
-Make family members ACCOUNTABLE, by getting them to do weekly reports to you, brings structure to them,
-Hard to FIRE a family member.
- Family members need to work 8 to 5, not when they feel like it, OH but I worked till 2pm
went to collect the kids and worked at home till 8pm????

Business is Business family members must be treated like any other staff member, WHY, you Know
why.

Till next time may the Force be with YOU. Blog by Kyle Daines

Beware of introducing new Products or Services.

To SME Owners,

Yes we hear at every turn, innovate, and we must to be in the business game, BUT,
be very careful about experimenting with new P or S, ensure that your core business is very sound, otherwise you could lose FOCUS.

I knew of a business that within 3years added TWO new businesses, with supposed complementing Services, only 2owners, who now had to run three businesses, their core business was not doing well, so they ending up shooting themselves in the foot.

Keep your business emotions in check, go back and ask yourself, "why did to start this particular business"

Emotional IQ is the killer of most sme businesses.

Till next time may the Force be with You. Blog by Kyle Daines