Have hiring plans for 2019? You’re not alone – 47 percent of Miami area small businesses plan to hire in 2019, according to a recent Bank of America survey. But with the national unemployment rate at the lowest level in 50 years, the tight job market overwhelmingly favors the job […]
Operations
No. 1 training tip: Start with your front-line managers
New year, new goals. If as the owner of a business you have resolved to put a sharper focus on training this year, we have some advice for you. Small businesses, of course, don’t have the luxury of the large training budgets that bigger businesses have. But that doesn’t mean […]
Your business isn’t growing as much as you expected. What’s the real problem?
Your business isn’t growing or at least not at the rate you expected. What’s the problem? “If sales are not growing, the business is not making money, or the company doesn’t have enough cash – those are three red flags when things are not working,” said Ricardo Newark, a consultant […]
How is your year shaping up? Do you share this optimism?
Are you optimistic about the year ahead? If so, you are in good company, according to a pair of recent small business surveys. But they also shed light on challenges ahead and what you can do now to prepare. Most Miami-area small business owners believe they will see year-over-year growth […]
20 years after leaving the family business, he’s back — and growing the company
For Atlantic Models, business is a family affair. That’s even more true now that the owners’ son has joined the company. The Miami-based maker of model airplanes, and client of Florida SBDC at FIU, is featured on MSNBC’s Your Business: https://www.msnbc.com/your-business/watch/model-airplanes-preparing-your-exit-plan-1384740419969?fbclid=IwAR30ebSQy1vND3BEclXy-UQ_qBXgTfO2A9m3tIhQeuLWLt9n9E5ACKCTekg
You’re growing fast – that’s great. Just make sure you are putting systems and processes in place.
NeoBroadband, a broadband communications business, sells equipment to cable companies. The Miami-based business’s market is Latin America. The executive team, which launched the small business about five years ago, has more than 50 years of combined experience in the industry. That’s because the founders all came from another company in […]
Stage 7 – Disequilibrium and chaos: Friend or foe?
Stage 7 (161-500 employees) Ever heard the phrase: “You can capture a wild duck, but you can’t make a tame duck wild?” At this stage of growth, with 161 to 500 employees, there’s a strong tendency for a leader to professionalize the company and inadvertently crush the entrepreneurial spirit that […]
Stage 6 – Longer view focus now critical
Stage 6 Company (96-160 employees) Stage 6, with 96 to 160 employees, requires a longer, more strategic focus for the leader and a laser-like focus on your ability to connect to your employees. You can no longer afford to be all things to all people. Your ability to differentiate yourself […]
Stage 5 – Integration: Planning with purpose is key to success
Stage 5 Company (58-95 employees) Planning is a critical aspect of any business’s success. But planning for planning sake will not a company make. You have to be able to identify the key decisions that must be made — and know when to make them. Think in terms of kicking […]
Stage 4 – Ignite your company’s intelligence by hiring professional managers
Stage 4 Company (35-57 employees) The fourth stage of company growth (35 to 57 staff) is called the Professional Stage. This is the time you need to focus on hiring experienced managers who have been there, done that. Your company has outgrown your ability to keep all those balls in […]