Four Reasons Why Employees Don't Take Ownership

If there was a poll on why businesses don’t excel, the “My employees don’t want to take ownership” option would definitely be in the top three reasons. In the hundreds of conversations I’ve had with business leaders over the last seven years, this issue has been raised almost every single time.So what is it about employment that brings about such disinterest? Or, is it even about employment at all - maybe the leadership, peers or company culture needs to be examined? Honestly, there’s usually more than one issue at play. Here are four possible reasons why this disenchantment may occur, and some suggested ‘antidotes’:1- An employee doesn’t want to...

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The Real Cost of Inefficiency

Businesses typically sell a product or service that the end customer needs or wants. The profitability comes when the business is able to sell for more than what it costs to produce. This is of course an overly simplified view, but the basic premise remains the same regardless of company size, offering, industry or sector.On paper (targets, plans and forecasts) it can all look pretty straightforward. In reality, there are endless variables, a dozen processes, several departments and anywhere from tens to hundreds of people involved to reach the end result.So, what happens when:The predictions aren’t rightThe expected timelines are exceededThe results are inadequateThe firefighting of any mistakes...

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The 5 Critical Keys to Setting Powerful KPIs

With the end of the year fast approaching, people are working 9, 10, 11-hour days – powering through lunch, typing out reports with one hand while rummaging through a Fattoush salad with the other. Team members have missed birthdays, meals and exercise to try and reach their yearly goals, and yet, is your business truly better served?What metrics (besides revenue and profits) are you utilising to predict how well your company will do at the end of the month, quarter or year?Key Performance Indicators (or, KPIs) are trackable metrics which show how well a business is moving toward its goals. These numbers should tell you, in one look...

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4 Keys to Increasing Business Profitability

Every other ‘strategy’ will ultimately boil down to one of these two. Either increase the total, or increase your share of it. The latter is a series of articles on its own – and a really good reason to have a great accountant! – but the former also deserves a lot of attention, primarily because it is often approached the wrong way in most businesses. Many times, companies have a single strategy: pushing their team to make ‘more sales’. Obviously, you want to have a larger number of transactions happening, but the focus is then immediately shifted away from the two other factors that can greatly impact results: up-selling and...

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Leadership How-To: Building Your Personal Infrastructure

Living in the amazing city of Dubai, we can almost be forgiven for taking the brilliant infrastructure around us for granted. Assume, for a minute, if Sheikh Zayed Road was closed for a day. Or if the Metro stopped working. Or if the sewage treatment facilities, or telecommunication hubs, or the airport were to get intermittently interrupted. We have become so accustomed to having these services available to us, we almost don’t notice them anymore. Yet, there was a time – not too long ago – when a lot of these were less reliable, or perhaps even non-existent. Sending an SMS was a big deal 20 years ago, and MMS...

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How to Create a Culture of Accountability in Your Business

Conversely, stagnation, finger-pointing and under-performance are characteristic of businesses where this culture does not exist. The question that business leaders often ask is: How can we create this culture of accountability in our company? There are two major parts to this question, and each one plays a large role in answering it.Part One: A Structure for AccountabilityIt is only fair for a person to be accountable for an outcome if three things are in place:The TargetThe Measurements, andThe OpportunityIf you want to see the level of accountability increase in your business, here are the steps you’ll need to take:Step One: Set Clear Targets & GoalsBesides the CEO of the...

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A Personal Note: Three Game-Changing Strategies for Business Leaders in 2019

With the dawn of a new year, many individuals have made their resolutions. Weight, savings, travels - these are typical topics that many would include in their goals (and - statistics show - most won’t achieve them, unfortunately. Unless you implement the first suggestion below). For business leaders - in particular - I want to offer three suggestions to consider when setting your resolutions. [Important side note: “Leaders” are not the ones with the longest titles, biggest offices, or highest rank. Leaders exist throughout the organisation, even in teams of two people. Having any number of direct reports is not the criterion for a leader; rather, it is the respect...

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Three Operational Oversights That Will Cost You Dearly

Winston Churchill famously said: Success is going from failure to failure with no loss of enthusiasm. The quote applies marvelously to business, with every phase, every quarter, and every strategy bringing a new, sometimes unexpected, challenge. At every turning point on your growth curve, there will be the need to revisit previous business decisions, and re-evaluate to see if they still apply. Miss them out, and you’ll be stunting your own growth and success. One such major obstacle on the path to business growth - one that has brought down many good companies - is in the area of operations and execution: how do you continue to deliver great work...

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Why Automation Matters to Your SME

Fiery debates are sprouting all over the globe around how automation is rapidly changing the landscape for business. Like the digital revolution and industrial before it, a rise in automation points to a new way of doing business for everyone. While major corporations shell out waves of cash to test this new industry — with driverless cars, delivery drones, and even pizza making machines — what relevant keys can SMEs glean about the wave to come? A valuable indicator for entrepreneurs is an honest look into markets already being disrupted with incredible speed. Below, we’ll list mindblowing innovations in 5 industries relevant to SMEs.1. DeliveryHave you met DRU?Domino’s...

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