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…

What Are Your Competitors Doing?

Dear M & M: I am curious and wondering why should I take the time to find out about what my competitors are doing? – Betty Dear Betty: I cannot stress the importance to know everything about the market(s) you are in or about to enter. The first step is to identify who your competitors…