Business Archives

How to Train New Employees: Tips for Managers

What is the most effective way to train new employees? How can you ease new hires into their roles faster and more effectively? Taking the time to develop an efficient training process for new employees will help them settle into their roles faster so they can start making meaningful contributions to the company. As a rule of thumb, it’s best to show rather than tell when training new hires. Here are some tips for how to train new employees faster and more effectively.

How to Motivate Team Members: Focus on Their Strengths

Is your team suffering from a motivation slump? What can you, as a leader, do to motivate your team? There’s no better way to motivate employees than to assign them motivating tasks. When people perform tasks that fit their inclinations and skill level, they’re naturally driven to perform their best. Here’s how to motivate team members by assigning them good-fit tasks.

Clockwork: Book Overview (Mike Michalowicz)

What is Mike Michalowicz’s Clockwork about? What is the key message to take away from the book? In his book Clockwork, Mike Michalowicz presents a process entrepreneurs can follow to become hands-off visionaries. A hands-off entrepreneur trains her employees to take care of the hands-on work instead of overseeing the daily operations herself. Below is a brief overview of Clockwork: Design Your Business to Run Itself by Mike Michalowicz.

How to Create a Must-Have Product or Service

How do you create a must-have product? What are some of the characteristics of products that are considered “must-haves”? To create a product or service that won’t go out of business, you need to ensure that your customers won’t want to miss out on it. A must-have product delivers so well on a target market’s needs that people would be unhappy if they lost it. Here’s how to create a must-have product.

How to Transition to a Hands-Off Management Style

What are the benefits of hands-off management? Is the hands-off approach right for your business? Adopting a hands-off approach to running your business enables you to reorient your focus from getting mired in the daily work towards improving your company’s framework. However, there are many things to consider before you relinquish your management responsibilities and hand them over to your team. Mike Michalowicz shares three steps for switching to a hands-off management style.

How to Build a Growth Hacking Team

What are some things you should consider when putting together a growth hacking team? What roles should your growth team include? A dedicated team is a key component of hacking your business’s growth. According to Sean Ellis and Morgan Brown, a growth hacking team should be interdisciplinary and involve members from multiple departments of your business. Here’s how to build a successful growth hacking team that will help you skyrocket your business’s development.

How to Conduct a Customer Behavior Analysis

How do you conduct a customer behavior analysis? What kind of data should you collect on your customers? Analyzing your customers’ behavior allows you to find patterns. When you find a pattern in user behavior, you’ve found an opportunity to optimize your product. For instance, you might compare users who leave after a month to find a pattern in behaviors that occur just before a user leaves. You can then use this information to tweak your product and reduce churn. Here’s how to track and analyze your customers’ behavior.

What Is Growth Hacking? The Secret to Exponential Growth

What is growth hacking? What is the secret to achieving exponential business growth? Growth hacking is the only growth strategy that will keep your business competitive in the modern marketplace. Growth hacking is premised on continuous and rigorous testing to find hacks—practices that have the potential to skyrocket your company’s growth. Keep reading to learn about the growth hacking method.

How to Retain Customers: The Growth Hacking Method

Why is customer retention so important? How does losing customers affect your business’s bottom line? Customer retention is so important because it often costs more to acquire a new customer than to retain an existing customer. Hence, the effort spent to retain one customer gives a better ROI than acquiring one additional customer. With this in mind, here’s how to retain customers so your business can stay profitable.

The Globalization of Supply Chains: Who Benefits?

Are international supply chains good or bad? What risks are involved? Who benefits? In the 21st Century, free markets reign supreme, global trade is the centerpiece of economies, and people have access to more information and are more connected than ever before. A few collaborative business practices—including international supply chains—accelerated globalization. Keep reading to understand the globalization of supply chains, as explained by Thomas L. Friedman in his book The World Is Flat, and see why they’re a mixed bag.