There are a myriad of decisions that need to be made when starting a new business but the importance of selecting the right type of entity structure should not be underestimated. At first glance it may seem simple and straightforward, but beware! The wrong entity type can prove costly both initially and in the future. … [Read more...]

As we initiate our final article of this series, I want to congratulate those of you who have made a commitment to strive for operational improvement in paying attention to and completing the first four steps of our model: Creating Rules of the Game Developing a System for Capturing and Organizing Ideas Deciding and Prioritizing What Initiatives to Pursue Determining Who Owns the Process for Initiatives … [Read more...]

Now that you and your team have decided what initiatives are to be prioritized, implemented or further explored, how do you determine who will be involved in the process? Who will own and manage the task(s), monitor the success (or failure) of the initiative(s) and make recommendations for the future? We suggest assigning an “initiative manager” as well as interested team members to each task. … [Read more...]

Welcome back to our series exploring the introduction of Operational Efficiencies to your business. In our first three installments, we discussed: The need for implementing efficiencies to thrive and create competitive advantage in a rapidly changing environment. “Rules of the Game” to encourage ideas and promote participation of all team members. Capturing and organizing ideas and opportunities for improvement. … [Read more...]

Remember the old “suggestions box?” Input from all levels of the company drives success by bringing ideas and opportunities to the forefront that otherwise would not be considered. Including everyone in the suggestion loop promotes comradery, encourages ownership in the process and rewards good ideas and follow-thru with recognition. … [Read more...]