Essential Resources For CEOs and Entrepreneurs at Startup and Emerging Growth Companies
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-- Abraham Lincoln
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A Simple Framework For Employee Development
It is the goal of all quality organizations to provide its employees with a superior opportunity to grow, both individually and as professionals. Nothing has greater impact than hiring the right people and developing them with the company's growth. It has been frequently shown that appreciation and growth can be stronger motivators for an employee than money and will reduce turnover, improve customer service and ultimately generate superior profits for the company. With this in mind, it is best to lay out clear expectations for performance so that employees can achieve both personal growth and promotions. Employees should understand that your company is committed to making every effort to educate them on how to expand their horizons and take on new responsibilities over time.
This article can be used to make more obvious to employees what they must do to move up the organizational ladder and achieve certain career goals. Publishing this inside your company can make it clear that rewards and promotions are there for those people that earn them, and not for those that play politics, look busy, or cozy up to the boss. A system like this provides some transparency to the mysterious process of promotion and professional growth that many employees think is biased, unfair, or a function of pure politics. This kind of thinking can stagnate people and organizations as everyone resigns to the fact that they cannot compete based on some untrue belief.
In top organizations, merit is rewarded first and political factors are simply a way to generate more opportunities for visibility within the organization. This article is designed to describe the typical expectations of employees at various levels, and give everyone a framework for their personal and professional development. It can have a huge impact on some people and hence your entire organization. . . . .
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THIS ISSUE'S GUEST WRITER
Nothing is more important, or can have greater impact than the people you hire. A hiring mistake can literally cost hundreds of thousands of dollars and be magnified over the entire organization. A bad hire in critical areas, at critical times, can even ruin a company. Yet done right, a good hire can make up for a lot of other issues and drive success. With this in mind we wanted to highlight newer methods and technologies for hiring with:
Top 10 Hiring Tips
By Greta Kauffman,
President and Founder, Target-Teams
Spend sufficient time thinking and planning before starting the hiring process. Recruit only after you know exactly the skills, values, background and education you need for your open position.
For Complete Article With 9 Other Hiring Tips Click Here
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Top Ten Tips On Raising Angel Financing Today
Angel Investors ("Angels") have become a more important source of capital than ever before. Statistics show they have invested more than VCs in some past years and almost always invest more in early stage deals. With VCs treating early stage deals like they have the plague, young companies had better understand and use angel financing effectively. Unfortunately, angels are nervous that follow-on financing for the round after theirs will not be there and a good investment will go bad from a lack of available capital. This same phenomenon happened in the early 1990s. Similarly, today many companies will not be able to jump the huge gap between angel financing and institutional financing and NEED to adjust their business plans to compensate for this environment.
The financing landscape has changed and angel investors are now looking at deals the way venture capitalists usually do! The investment bar has been raised significantly. Several angel investor groups that once did 6 to 12 deals a year only did one or even NO new deals in 2002 and 2003 has also been very slow for angels. Dollars now go only to companies that meet relatively narrow and more mature criteria.
If your business is a picnic, then the financing environment is like the weather. You cannot change it, you must make adjustments for it in your business plan. i.e. you can't beat mother nature and other forces far greater than you.
In the past most angels wanted a good concept and a good feeling about the entrepreneur. They bet with their gut in areas that they understood and would let the management team be filled out later. They could count on the VC firms being there if the seed money was spent well, and a product was developed. This is far from the case today. However, who can blame them, as they can now secure more mature, lower risk deals for less money. The VCs have created a void and when this happens the angels can step into the gap. Everybody moves up the food chain one or two notches. This is the case today.
Doing all these things can increase your chances of building a successful company and getting angel financing from one in a thousand to as high as 50%. There are few guarantees in life, but hang this list on the wall and review it every month and I guarantee you will improve your chances greatly!
Now Angels Want to See: . . .
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The Startup Manual And Business Design Tools Cd: You Only Get One Chance to Start Your Company (Secrets of a Serial Entrepreneur) 1st Edition
Bob Norton is CEO of C-Level Enterprises, which provides "C-Level" help, coaching and consulting/interim CEO services to companies up to $1 billion in revenue. He has been a full-time CEO since 1989 and now works with companies to refine business models, launch products, polish company visions, maximize performance, and design businesses for long-term strategic advantage. He can be reached at Bob@CLevelEnterprises.com.