What Different Functions are Essential to Manage an Entrepreneurial Venture?

There are five key areas in most business plus the softer skills of management, leadership, hiring and creating a productive culture. The five key areas are:

  1. Marketing
  2. Sales
  3. Product/service development (innovation)
  4. Finance
  5. Operations & Customer service

A new venture needs slices of expertise in each area with a senior person that has 5+ years full-time experience in each on tap. Initially the development of the company is mainly about #1 and #3, which Peter Drucker the father of management says are really the two key functions. This is true because they require more creativity and top people.

In addition, under these categories of business there are about 30 to 40 more detailed level skills needed to grow any company. For example, marketing would include: branding, strategy, graphics design, SEO, PPC, copywriting, web page programming, etc.

I created a course to review these skills that is about one hour and free here:

This is about growing significant businesses and building...

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Do you know any platform where people can study the skills to run their own companies?

Yes, I personally have created two platforms with about 40 courses total for this purpose, and a third set of courses for executive teams preparing to scale a company. There are at least 30 skills an Entrepreneur/CEO should learn before founding a company, not that they can be expert at all or even most, but all these skills will be needed on a team.

We have trained thousands of CEOs from over 40 countries at The CEO Boot Camp since the first one in 2004. This program is for aspiring and active entrepreneurs to learn what they need to become good CEOs and entrepreneurs. It has 12 foundational courses on the things required to design a business, build a product and launch. We find even very experienced CEOs do not know 50% of what we teach there. You can learn about that certification here

The second platform unbundles all of our 40 courses to be available individually for team members on specific topics.  Taking all these together is likely better than getting an MBA or other...

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What Are OKRs, MBOs and KPIs?

How Professional Managers Set Goals and Get 56% More Productivity from Their Teams

The Father of Management, Peter Drucker first invented a formal goal setting process called Management By Objective (MBO back in the 1960s.  Human beings have not change much at all since then.  Most people require supervision and managers.  MBO is both a process and very specific goal.   An "MBO" is also a single company or personal objective.  A goal is turned into an objective by making it very specific. Even binary "done" or "Not done".  It is the secret great mangers do well and most managers fail to do at all. 

OKR is the same as MBO, just a rebranding in more recent decades.  And Key performance Indicators are just the metrics that can be measure and tracked over time to see trends, good and bad. I always separate metrics (pure numbers) from other MBOs or goals because they can be crammed tightly into a spreadsheet and act as a health indicator...

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Overloaded? Lead Your Way Out!

By Harvy Simkovits

Are you starting the new year over-extended, over-committed, overwhelmed, and over-stressed in your business? Maybe you suffer from being under-leveraged as a leader!

"Too much to do and not enough time" is a common mantra for most business owners. Too many demands and expectations from customers, employees, vendors (even consultants), not to mention your own family (who want a piece of your time), can throw off-kilter your well-intentioned New Year's business resolutions (those important "to-do's" you promised yourself in December to get to in January).

Here are some thoughts to leverage yourself better (using yourself to your utmost capability, and better working through and with others) during those high-demand and high "to-do" times, like right now.

1. Share the "water-carrying". Does your business load rest just on your shoulders for you to carry alone, while everyone else is watching or waiting for you? If so, then you are...

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Is Customer Service Dead or Just Dying?

Plus the Top 8 Ways To Ensure Your Customer Service Is Not!

 

 

Where Are Your Company's Customers Now? Only in the top right "Loyalty" is a sustainable business, everywhere else is living on borrowed time.

 

Examples of Poor Customer Service

Customer service seems to be going down the drain today at more companies than not. It is difficult to have a remote customer experience or transaction with any significant size company without several problems along the way. It is much less of a problem where there is face-to-face contact than on the phone, so I am confining this to telephone service issues.

I recently wanted to add a second satellite dish to my house and also upgrade to a high definition dish with a large, well-known company that provides satellite signals directly to your home TV (who shall remain nameless). Although I am still working on this, I have now spent over two and one-half hours talking to people on the phone and being stood up three times in a row...

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Is Customer Service Dead Or Just Dying?

8 Ways to Prevent Customer Service Dying At Your Company

I can't be the only CEO in the world who would look for daily, weekly, and/or monthly "flash reports" showing exactly what was happening to our customers that we thrust off on another vendor before they could begin paying us for our services?! Is it even possible that there are significant businesses out there who are not watching critical measures of their own success and delivery? I guess no matter how unbelievable it is, it must be happening every day. Is it happening in your business without your knowledge?

Sure these things can happen occasionally, and at good companies, the customer gets an apology, a free month, and/or a bowl of fruit for their trouble. However, the very fact that these things are happening on most transactions with companies tells me management is losing touch with some basic principles.

I challenge any manager to make sure they use their own service anonymously on a regular basis (secret shopper) to...

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Is Customer Service Dead Or Just Dying? 8 ways to prevent it

8 Ways to Prevent Customer Service Dying At Your Company

I can't be the only CEO in the world who would look for daily, weekly, and/or monthly "flash reports" showing exactly what was happening to our customers that we thrust off on another vendor before they could begin paying us for our services?! Is it even possible that there are significant businesses out there who are not watching critical measures of their own success and delivery? I guess no matter how unbelievable it is, it must be happening every day. Is it happening in your business without your knowledge?

Sure these things can happen occasionally, and at good companies, the customer gets an apology, a free month, and/or a bowl of fruit for their trouble. However, the very fact that these things are happening on most transactions with companies tells me management is losing touch with some basic principles.

I challenge any manager to make sure they use their own service anonymously on a regular basis (secret shopper) to...

Continue Reading...
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