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Advice for the Entrepreneur: Lee’s Tip #139

30 Jun 2015 Uncategorized

Team building isn’t only for corporations. In fact, you probably already have a team. Your CPA or tax attorney is a team member; the person who does your graphics or store design is part of your team; your mail carrier is part of your team (yes, you often receive better service when you cultivate a relationship with the delivery people). If you work with your honey, you have a team. If your kids help, you have a team. Your local Office Depot or other office-supplies store is part of your team. If you use any outside contract labor, you have a team. I suggest you make a list of everyone who helps you get your goods to market. Include those who help you keep in compliance with the IRS or other entities. In some cases, you’ll also include your suppliers, if you use them frequently. Then take stock. Get rid of those cogs in the wheel who don’t meet your standards and replace them with a better alternative. You have a team, so manage it.

Advice for the Entrepreneur: Lee’s Tip #129

14 Apr 2015 Uncategorized

Deciding when to hire someone to assist you can be a sticky wicket. Sometimes you hesitate because of budget, or it could be something else altogether. There are tasks that only the entrepreneur can do; those differs from owner to owner and may be industry specific as well. I’m a broadcast consultant. My experience is what I sell to clients. There is no one on my team with my radio station ownership experience, etc., so I choose to hire people to do the other stuff. Some sellers, for instance, have honed the skills of product sourcing: knowing, either by instinct or from experience, what to buy and for how much. With few exceptions, they usually are on the mark. Product sourcing may not be the thing to outsource if you have that “sourcing gene”. Instead, you may want to outsource your listing duties, for example. IF you’re thinking about hiring an assistant, take stock of your own skills first.

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