The Importance of a Business Plan

Dear M & M: Why is so important to have a business plan and what goes in one? – Doug Dear Doug: A good business plan will guide you through every stage of your business from start to shut down. It is a way to think through key elements of your business. Business plans can…

Setting Meaningful Goals

Dear M & M: Any tips on setting meaningful goals for my business? – John Dear John: Every business should have a clear set of goals that everyone in the organization should know about, understand, and have a clear idea on what they should be doing to help accomplish them. In addition, everyone should know…

Giving Your Business to a Family Member

Dear M & M: I am considering retiring and letting a family member run the business is there anything I should know about or do in the next year? – Gail Dear Gail: According to Service Core of Retired Executives (SCORE) only 30% of family owned businesses survive from first to second generation, and only…

What Management Style is Best?

Dear M & M: What management style do you feel is the best to use? – Billy Dear Billy: There are several types of management or leadership styles successful business owners and manager use.  They can range from democratic to country club to coaching to autocratic. Bill Gates relied heavily on an authoritarian leadership style.…

The Value of Weekly Team Meetings

Dear M & M: Some of my employees are recommending that we have a weekly meeting. Can you think of any value that might add to the organization? – Doris Dear Doris: Many business owners feel that meetings are a waste of time. They would rather communicate one-on-one. In today’s technological ever changing environment meetings…