Management | Teik Oh

Six Traits Every SME Leader Should Have

May 18 2022

Having a great leader is crucial to the success of a business. In fact, positive leadership has been proven to improve employee engagement, especially in Small-Medium Enterprises (SMEs), which helps the company achieve its goals. A good leader also cultivates a positive workplace culture, which, in turn, encourages employees to be productive and loyal.

However, if you want to become a good leader, there are a few traits you should observe. Below are the six traits that every SME leader should possess.

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Managing A Mature Business – How To Keep Innovating

Dec 14 2021

This is the second in our series of articles on managing a mature business.

If you missed the first article, about managing the cash flow of a mature business, you can click on this link.

We have also completed our series of articles on Starting A Small Business and on Growing Your Business, and the links provided will take you to the first articles of those series if you missed them.

In this week’s article, we are (hopefully) going to recognise that your business has reached the mature stage in its life cycle, and look to renew the cycle before it drips into the next stage, which is the stage of decline!

But first, let’s refresh our memories to talk about the four stages of the business life cycle: –

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Growing Your Business By Employing With Intent

Nov 09 2021

Last fortnight, we dealt with how to grow your business by making sure that your employees grow with you – by providing them with a clear Position Description that detailed their goals, objectives and responsibilities, and performance measures, and by ensuring that you implement a consistent feedback system to review their performance.

This fortnight, we are going to look at how to employ people with intent. That is, knowing exactly who you need to employ, what their roles are and how these people will populate your complete business structure.

This means designing what your business will look like, from the beginning, and in doing this, knowing what your organisational structure will look like when your business structure is complete.

To do this, we are going to look at designing your Organisation Chart.

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Growing Your Business By Growing Your Employees

Oct 26 2021

Typically, small businesses employ a small number of people before they expand and grow.

As small businesses grow, the way they develop and grow their people will help them grow their business as well. So, the performance of those people in the early years is fundamental to the performance of the business as it grows.

Therefore your small business should attempt to ensure the best performance from your employees, and systems to help them grow and develop along with your business.

The best way of developing your employees is to implement an effective review system where they are shown what their key performance indicators are, where they can be given clear targets to achieve, and where positive but honest feedback can be given both ways so that they are helped to develop and that they provide feedback to you on how you can best use them in your business.

In order to implement an effective staff performance review system, you first need to have something against which to measure. Read More

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How To Turn Around High Employee Turnover

Apr 06 2021

Employee turnover can be one of the highest costs of any business when you take into account the cost of separation, recruitment, training, loss of knowledge and experience, transitional loss of productivity, and reduced workplace morale.

For a small business, these real and hidden costs can be seriously multiplied. In a small workforce, any small business employer can testify to the fact of how disruptive it can be if a key employee leaves, and it is not false to say that often if they are a popular co-worker, it can lead to further resignations.

In different industries the average “poor” turnover rate can be anything from 13% to 30% – that’s 13 to 30 people out of a hundred who leave your employment every year!

In a small business with a workforce of an average of 9 people, that’s 1 to 3 people leaving the business every year!

On the other hand, a settled workforce brings many benefits including the retention of corporate knowledge – and the fun of going to work!

How do you turn this around?

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Increase your sales through a highly focused marketing plan!

SMART Marketing: In this book, the owners of a small business are led through the SMART Marketing 7 Step Process to produce a marketing plan targeted at their most desirable customers. Any business can use these principles and in 4 to 6 weeks implement a plan to get them through the door! Find out how...

The SMART Marketing Workbook: Companion to “SMART Marketing”, this workbook sets out the SMART Marketing process in 7 workshops for you and your staff to complete questionnaires and templates that at the end, form the marketing plan you need to sell your REAL product to your REAL customer! View now...

Category - Management

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Six Traits Every SME Leader Should Have

Managing A Mature Business – How To Keep Innovating

Growing Your Business By Employing With Intent

Growing Your Business By Growing Your Employees

How To Turn Around High Employee Turnover