Business Process Consulting – Business Development and Risk Management

Succession planning is a critical linchpin in building the bench strength of a business into a positive long-term future, as well as a key element of business risk management. Most of the business literature on this particular subject focuses on succession planning as an exiting strategy. This focus is a strategic blunder.

The emphasis on succession planning as an activity to be considered and implemented toward the end of the business life cycle is wrong-headed. Such emphasis represents a short-sighted perspective, characterized by a significant lack of strategic thought and intent. It is particularly surprising, given the current demographic changes and trends in the market.

Some of these key trends that need to be considered from a corporate team building and strategic perspective, in analysing both the internal and external environment include:

  • an aging population
  • labor and skills shortages
  • the emergence of Generations ‘X’ and ‘MTV’ into management roles, and
  • an increasing number of women assuming management and leadership roles in business.

Business owners and managers need to be open to employing people who are better than they are and different to them. This willingness becomes a crucial attribute in underpinning productive succession planning. Effective business owners and managers regard such planning as an opportunity for ongoing growth and development for themselves and their businesses.

Thinking about succession at the recruitment stage is therefore critical for the ongoing success of the business, as its principals and managers move toward leaving their company for whatever reason.

Successful business owners and effective managers are committed to bringing the next generation of leaders on from the very outset. To that end, the three critical strategic decisions that must be made are to:

  1. recruit learners
  2. create a developmental culture, and
  3. inculcate leadership as a function that delivers results.

One – Recruit Learners

Aligning succession planning in business begins when people are first recruited into the company.

In the employment of new people, demonstrable technical skills or experience, managing with and through others, and verbal and numerical reasoning capabilities are all-important elements to be considered.

But by far, the most critical factor to consider is that the people being recruited into your business must be avid learners and open to ongoing learning and development. No other single attribute will prove as meaningful in their prospects for long term success.

Two – Create a Developmental Culture

The developmental culture that we want to create in our business environment is underpinned and informed by the people at the top. The people at the top, therefore, must themselves be lifelong learners. Furthermore, they must embody the desired development culture of the value based business by being open to new ideas, by listening intently and by incorporating different ways of looking at things into the business environment.

They must model the development that they want to encourage in the people around them.

One of the risks in creating this type of business environment is the loss of good people to other businesses. It happens. People do get “poached,” and they do move on. On the other hand, when engaging in the risk management of adopting this approach, one must ask the following question:

“What would happen if we did not develop our people, and they decide to stay?”

In the end, a developmental culture in a business attracts talent like a magnet, since prospective employees see the business as one that offers more than merely a paycheck. On balance, this capacity to attract good people should more than offset any risk of losing them.

Three – View Leadership as a Function that Delivers Results

Succession planning is reinforced throughout the value based business by the pragmatic philosophy that leadership is taking responsibility for getting things done, not a position that is held.

Organizations are much flatter than in the past, which means that the hierarchy is now created by the alignment of the Mission, Vision and Values of the business, as well as by its strategic business objectives.

Leadership is a function. Leadership is the ability to see a gap between what is and what should be and the willingness to take responsibility for closing it. Leadership can also be the ability to create a gap between what is and what should be, where such a gap is necessary to propel the business forward, and, then, taking responsibility for closing it.

By defining it this way, leadership becomes an activity that can be learned, demonstrated and taught, at any and all levels of your business.

Funding Opportunities – Business, Student and Home Loans

Money is something that impacts every aspect of your life, however, if you know where to turn for funding sources when you need them, you will have a much easier time navigating your way through the obstacles and challenges of your life. The types of funding opportunities that are made available to you will vary by your age and financial situation. The first types of funding that you will probably need to secure are student loans, grants, and credit cards. These initial funding options will be critical to the development of your credit history, which will be a key factor in your ability to secure other forms of credit later on in life. Because of this it is important to keep up with your student loan payments and credit card payments during you first years as an independent adult.
Funding for your small business

After college is over you may want to start your own business. To do this you may need to look for funding options that will help you establish your working capital, buy equipment, and hire a staff. The most commonly used funding sources for these things include small business loans and small business grants. Your ability to qualify for these things will depend a great deal on your credit history, the percentage of capital that you have to invest in your business, as well as your ability to fill out a loan or grant application completely and accurately.

Qualifying for a mortgage

Another important funding situation that many people enter into after college is buying a house. In most cases people will need to secure a mortgage in order to buy a house. To qualify for a mortgage, which is also referred to as a home loan, you will need to find home loan lenders that offer a mortgage program that you qualify for. The types of home loans that you will be able to qualify for will depend on your income level, your FICO score, and the type of income that you earn.

Home improvement loans

After you buy a home you will be able to use the equity in your home to finance home improvements, pay off credit card debt, or to go on a nice vacation. Debt consolidation is a hot lending product right now. There are a couple of ways that you can use your home to pay off your credit card debt. First you can take out a home equity line of credit and secondly you can refinance your home and use the money from the equity portion of the proceeds to pay off your unsecured debts. However, refinancing is the best option to use because it usually offers a lower interest rate and longer terms.

Looking for financing? Whether it’s a mortgage, student loan, auto loan or home equity loan we can provide you with the information and resources to help you find the funding you need. Find information about funding, mortgages, lending, home loan lenders, credit, equity, refinance, small business, debt, grants, student loans, funding opportunities, refinancing, small business loans, and debt consolidation.

Business Development Tips For Home Cleaning Business

Home cleaning is no longer restricted to the earlier definition, where it was considered a menial task. Rather, it is now treated on par with other important homely chores and it has in fact gained enough popularity as an important business opportunity. The stream promises a sustained income and requires no specific degree to start a business for you. The idea is to get a few initial contracts and the rest follows. The payment terms are straight and generally entail a higher installment for the first cleaning exercise. The contract could begin when the house is only in the construction stages. This obviously implies slightly better equipment, since the mess is slightly more difficult to manage.

To sustain and grow in this business, it is imperative to sustain a good level of services. Depleting quality can be harmful. You don’t want to be out only after the first contract, right? So provide such services that the clients get addicted to your quality of work. Leave no room for competition. Engage in the idea of frequent feedback, where your existing clients can introduce any required changes during or before the contract.

Flexible working hours could be your selling proposition. Pamper your client. Tell them that you will be available to do the cleaning at the last minute if so desired. This, of course, implies having a workforce working in shifts. If you need to, hire a few temp employees initially and make them permanent as volumes grow.

Networking with the various society members to know if a new cleaning contract is on always helps. Stay updated, also advertise in the local newspapers and get some pamphlets printed for local circulation. The idea is to keep your name in the mind of anybody who is considering an alternate home cleaning service provider. Another way to get the first entry is by providing complimentary cleaning services for the relatives of your existing clients as a special treat. The scope is thus increased. More people know about you, and this is exactly what you need to grow. Leave a good first impression and let them look for you when they need another cleaning.

The right equipment also plays an important part in your offerings package. You might think that manual services can impart the desired results; however, the saved time and increased proficiency can easily cover up for the increased expenses. So next time you shop around for your tools, rate price against quality and do not compromise on the latter. You can of course hire some expensive equipment initially.

Home cleaning is a specialized field in itself, and experience is the best teacher in this domain. So, just work on the above tips and see your self grow.

Social Networking As a Business Development Tool

Social Networking can be leveraged as an innovative opportunity to generate new business and drive sales. It generates opportunities that are additional to, and supportive of the results of more traditional selling methodologies. It does this by leveraging the capabilities and characteristics of social media platforms to virally propagate the personal and product identity of the agent. It significantly increases the capability of existing clients to deliver high quality leads and introductions while effectively distributing the work associated maintaining multiple relationships over time.

Socially networked selling becomes particularly powerful when targeting customers in technical and start-up companies where familiarity with social network platforms is the greatest. This community is already sharing information and insights within this space as well as using it to organize, communicate and create face to face networking opportunities. The agent can develop a virtual identity that exponentially increases his exposure and visibility within his targeted community. This identity will take on the characteristics of an actual brand and, as such, can be search engine optimized, shared, re-tweeted and otherwise rewarded for quality products and services that are well delivered. Face to face networking is supplemented by its digital footprint in communities like Twitter, Facebook and Plancast and allows for the establishment of relationships to validate the highly mobile, virtual identity.

Of course bad news travels as quickly as good but the real relationship that is established by the agent and the client mitigates the risk of negative press and allows for effective issue tracking and trouble shooting within a highly transparent and real time virtual environment.