Management Archives

Building a Positive Workplace Culture: Why It Matters

How would you describe your company’s culture? How well do employees know—and embrace—the company’s values? Once you’ve hired the right people and incentivized them to stay, building a positive workplace culture is your next step. This is the view of Patrick Bet-David, who argues that culture is critical because employees must identify with the company and its values if they’re going to put in their best effort. Read more to learn about the importance of shaping your company’s culture.

Starting a Tech Company That Makes a Difference

What is the key to tech startup success? What are the key elements a tech startup needs to make a difference? Peter Thiel believes that startups are the way to the future. It’s these new companies that will unleash new technologies we need to progress as a society. In his book Zero to One, Thiel shares five elements that a startup business must have if it wants to make this kind of impact: revolutionary technology, strategic timing, a great team, effective distribution, and enduring value. Continue reading for Thiel’s insights on starting a tech company that makes a difference.

How to Improve Business Efficiency: Do More With Less

Do you want to make your business run more efficiently? What are some things you can do to increase the efficiency of your operations without compromising quality? In his book Profit First, Mike Michalowicz says that business owners should try to increase efficiency everywhere they can. Michalowicz recommends three mindsets to accomplish this: 1) don’t just think small, 2) solve a unique problem well, and 3) push sales after you adopt an innovation. Here’s how to improve business efficiency, according to Michalowicz.

How to Hire the Right People—and Keep Them

How do you get the right employees on board? How do you keep them around for the long haul? Part of long-term business success is assembling a winning team. In his discussion of how to hire the right people and keep them, Patrick Bet-David argues that you shouldn’t rely on your gut feelings and that you must provide attractive offers with follow-through. Keep reading for more on Bet-David’s hiring and retention strategies.

Accountable Employees: Elon Musk’s #1 Hiring Criteria

Why does Elon Musk focus on hiring accountable employees? What tactics does he use to force employees to take accountability for their actions? Elon musk focuses on hiring accountable employees because it eliminates workflow inefficiencies and gets the job done faster. He uses multiple tactics to ensure accountability such as asking certain questions and following up. Keep reading to learn how Elon Musk manages his accountable employees.

How to Improve Efficiency and Drive More Sales

Why is efficiency important in business success? How does operational efficiency help your bottom line? Efficiency is integral to long-term business success. The more efficient your operations, the more time and money you save running your business. This leaves you in a better position to provide a high-quality service that outdoes your competitors—resulting in more sales, increased profits, and long-term success. Keep reading to learn how to improve the efficiency of your operations, and ultimately drive more sales.

Why Is Elon Musk So Successful? His 5 Important Traits

Why is Elon Musk so successful? What traits does he have? What management methods does he use? Elon musk is so successful because of his personality traits and his management methods. Through a combination of being motivated by the future, having a high risk tolerance, hiring exceptional employees, maintaining control of his companies, and setting extreme deadlines, Musk’s businesses have achieved impressive results. Continue reading to find out why Elon Musk is so successful.

How to Lower Labor Costs: Keep, Improve, or Remove

Do you monitor your labor costs? How can you reduce your labor costs without compromising the business? According to Mike Michalowicz, the author of Profit First, you should manage your labor costs like you manage your other expenses. He provides three guidelines for increasing labor efficiency and explains how to determine the number of employees you should have based on your company’s revenue. Here’s how to lower labor costs using Michalowicz’s “keep, improve, or remove” framework.

How to Assess Your Product Viability

Do you have a product idea in mind? What are some things you should consider before committing your idea to development? Successful businesses engage in research and rigorously test the product viability before they commit to developing it. This process helps them test their assumptions about how profitable the venture will be and prevents them from investing time and resources in projects that won’t pay off. Here are five questions to ask yourself before developing potential products and services.

The Personal MBA by Josh Kaufman: Book Overview

What is Josh Kaufman’s The Personal MBA about? What is the key message to take away from the book? In The Personal MBA, bestselling author and entrepreneur Josh Kaufman offers a comprehensive overview of how businesses work. He argues that there are five key processes underpinning every business and suggests ways to optimize them for successful results. You’ll come away knowing how to identify profitable opportunities and make informed decisions to ensure business success. Here’s a brief overview of the key themes.