by Shaun So | shared from Forbes |
In addition to my personal New Year’s resolutions, I’ve also listed resolutions that are company-specific from years past and future. While the list could be infinite, I find that these are a good start.
1. Fire Someone: Your organization probably has someone that it can do without. Let them go. One of the greatest hindrances to a rapidly growing start-up is an under performing employee. There’s nothing wrong with wanting every single employee to be an overachieving rock-star.
As the boss, you have every right to remove people that aren’t working out and I find that this privilege is not used enough. That’s why you’re the boss, right? Don’t feel bad. Remember, it’s not personal, it’s business.
2. Get an Advisor: We don’t know everything, so that’s why we must surround ourselves with people that add depth to our start-ups. Some companies have all-star tech talent but are lacking in their sales skills. Even if they assign a sales role to someone that has promise, it’s crucial to get someone on the advisory board that has experience to pass on to company leaders. Warning: never pay for advisers. There are people out there that prey on naive start-ups and ask for consulting fees. It’s ok to give some equity to an advisor, however, make sure there are performance metrics that are tied to your equity compensation plan.
3. Apply for a Corporate Credit Card: The word on the street is that early stage money may be in short supply in early 2013. So where are you going to get money? Some may tell you, “Apply for a bank loan”. My response to that, especially if your company is less than two years old, is: you’re better off robbing a bank for the money than asking for a loan. NOTE: I do not endorse robbing banks as a fundraising strategy. There are corporate credit cards (I have an a American Express) that will give first time entrepreneurs an amazing credit limit, upwards of $15,000 to $20,000, with a 0% 12-month introductory rate. Sure your interest rates are through the roof. But if you need a line of credit that you know you’ll be able to pay off, it’s completely worth it.
4. Read a book that has NOTHING to do with entrepreneurship: They may be great reads, but take a break from Eric Reis’ and Guy Kawasaki’s latest books. I find it incredibly useful to read something that allows you to escape from the real world because sometimes you simply need a break from the pressures and stresses of the start-up hustle. We all run our business because it’s our passion. But it’s important to let our brains relax. Here’s a start: NYT 2012 Best Seller’s List.
5. Say ‘Thank You‘: Tell every single employee (even the ones that you may let go) that you appreciate what they are doing/did for the company. I know I appreciate everyone that works for me, but I don’t often express it and I should. Your employees are taking risks along side you too. They’ve forgone a steady pay check from a large corporation because they believe in what you’re trying to do. Also, it’s considerably easier than #1, so why not give it shot?
Happy New Year!
* * *
Napoleon Hill – Think And Grow Rich – ORIGINAL Full Length
Lebron James – Dream…Believe…Inspire…Succeed
I Believe [How to Succeed in Business without Really Trying]