BY TOM COX | BIZ TIPS CONTRIBUTOR
Want more real breakthroughs faster in your firm or department? Here’s an easy way: stop “innovating” so much.
BY TY KIISEL | BIZ TIPS CONTRIBUTOR
Should small business owners consider blogging and social media to promote their businesses? Yes—and maybe, provided you do it right.
What can a private company do, to harness the kind of intellectual firepower that most of us can’t even access in our wildest dreams? Recruit an Advisory Board.
For 10 years, Jill struggled to make a profit. At over $8 million in sales, her specialty call center should have been providing her with annual profits of 8-12% or between $640,000 and a million dollars. Instead she paid herself a “good-enough” salary and saw profits trickle in at 1/2% — just $50,000. She didn’t own a business, she owned a job. Jill had done strategic planning of the “blue sky” variety many times. That kind of planning is worthless, says leadership expert Tom Cox.
Good strategy lets you outmaneuver your bigger competitors. Bad strategy can sink your business. Here are three insights from leadership expert Tom Cox that you can use to harness strategic thinking and planning for your small business.
Create and measure success, month by month, with a CEO (or Executive) Calendar.
Part of your end-of-year routine should be to take stock. What did you learn in 2012? How will you make 2013 better? This is a form of benchmarking. Comparing yourself to yourself, and to others, and looking for ways to do better. Leadership expert Tom Cox tells you how to do it.
Humans are highly impacted by having even their small successes noticed. You don’t need to give awards or assemble the team for a public presentation. Just notice and acknowledge. You don’t have to say “good job” — just acknowledgement by a person in a position of authority is pleasant. And being ignored is unpleasant.
Effective leaders are constantly learning. To help you keep learning, here are five of leadership expert Tom Cox's favorite books, old and new, for growing a CEO’s or a manager’s capabilities.