Why Embracing KISS Principle Leads to Happiness


KISS -Keep It Simple Stupid.
Many small business owners like to take the road less simple. If a task takes 2 steps to finish they will manage to stretch it to 10 steps. They are wired to think complex. We have pondered on the question for some time – when you are running a small business should you opt for a simple operation or a complex one?
You can see the examples of simple and complex operations in franchises as well. On one hand you have a pizza franchise such as Little Caesar’s – home of $5 Pepperoni Pizza with no delivery. On other side there is Pizza Hut with large number menu items and toppings and it not only has carry out; but also delivery and dine-in. Which one is easier operation to run?
There are number of reasons why you should try to keep things as simple as possible.
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Divide and Conquer – How to Complete Large Projects


Are you one of those guys who are overwhelmed by the thought of completing large projects? You know who I am talking about, right? These are the folks who look at the amount of work needed to complete the project and can’t decide how or where to begin. Their mind is occupied by the thought number of tasks that need to be finished – all interconnected and interdependent; but are unable to take any action to move them forward. Finally, they throw up their hands in frustration and end up not accomplishing anything.
There is a better way to manage these large projects. It’s called – Divide and Conquer. The way it works it you start at the top and start dividing the project in smaller chunks; further refining those chunks into even smaller, easily manageable tasks and so on. Those who are trained in formal project management techniques can relate to this. Unfortunately, not all small business owners are trained to think this way.
So, how does divide and conquer work? Here are some of the techniques.
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How to Ensure the Business Launch Date Stays on Target


If we have to bet on one thing when it comes to opening a business on schedule; we’d say it WILL NOT. No matter how well you plan, it seems things always go wrong somewhere resulting in delays.
Not being able to open the business on-time can hurt you on multiple fronts –you not only lose sales for every day that the business is not open, while your expense clock is already ticking; but also you end up throwing more money on tasks that are running late.
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How to Succeed in Starting a Business while Holding Full-time Job


Contrary to beliefs held by some people it is possible to start a business while still working on your job. Many people want to hold onto their current job for as long as possible for reasons cited in this post ; while they are starting business.
While it is not easy to start a business while still working on full-time job; there are ways by which you can succeed as long as you know what you are getting into and take care of important issues that will inevitably surface. In our view, the key to success is making sure you have laid proper groundwork to operate the business in your absence; while still keep a watchful eye on it.
Below we have highlighted several suggestions you can follow to be successful.
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Challenges of Starting a Business while Holding onto Current Job


While it is tempting to hold onto current job while you are starting a small business; it may prove to be quite challenging.
As we mentioned in the previous blog post many of our friends, colleagues and aspiring businessmen want to jump into small business out of frustration resulting from jobs (or lack thereof) in this difficult economic environment. However, they still want to hold onto their current job to ensure they have a fall back place in case things don’t work out with new business and several other reasons.
While it is certainly understandable that people would want to play it safe and keep the current job while business is getting established you should not underestimate the challenges of operating in this fashion. Below we have highlighted many of the challenges you will face when working at your job and starting a business at the same time. We hope that by understanding these challenges you will make informed decision and understand what to expect if you do decide to go forward.
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5 Myths that Hold Back Potential Small Business Buyers


In our previous post we showed several misunderstandings potential small business owners have that hurts them. In this post we want to show the other side. These are the myths that prevent many would-be owners from getting into small business. While it is certainly challenging to own and operate small business; they are not insurmountable and the rewards make it worthwhile to pursue that dream.
We hope that by understanding these common myths and realities you will not get scared by the challenges and be able to make an informed decision.
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Use S.M.A.R.T. Technique to Achieve your Small Business Goals


The majority of goals set by people are never fulfilled or at least fall short. If you want the proof; go and check out health clubs in the first 2-3 weeks after New Year. They are so crowded by the people who have made resolution to lose weight, that it is difficult to find free exercise equipment. And then the crowd fizzles out after 3 weeks and only the regulars keep coming.
The reasons majority of goals go unfulfilled are multiple – they are too vague or too difficult or they don’t have any time limit. Because of this, people setting the goals either don’t know how to achieve them or they give up thinking they can never fulfill them.
We came across the S.M.A.R.T. goal setting technique a while ago that can help anyone achieve what they want in a reasonable time period. S.M.A.R.T. stands for Specific, Measurable, Attainable, Relevant and Timely. Essentially S.M.A.R.T. goal setting ensures that you know what you want to achieve, how to achieve it and when to take actions. Below are the details on how to go about setting S.M.A.R.T. goals.
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Reports you should use to assess business performance


In the previous post we mentioned that as a small business owner you should know the key numbers of your business by heart. These key numbers provide valuable insight in your business and act as early warning indicators. Without them you may not realize if the business is heading for trouble and by the time you do it may be too late.
We also advise you to spare some time from daily operations and spend 15 minutes daily and several hours weekly and monthly to go over the reports that show how your business is performing. In this post we will provide more details about these reports and what you should look for in them.
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Deadlines are Your Best Friends


In 1961 President John F. Kennedy made a bold statement in his speech. He promised to American people and the world that before the end of the decade America would land a man on the moon and return him safely to the earth. When you think about it this was an enormous challenge. We didn’t even know what technology we would use to accomplish this. Many aspects of this mission had huge risks. And still, we found a way to accomplish this goal.
Such is the power of deadline. By setting a challenging deadline for the mission he set the entire nation into motion. Having a deadline somehow springs everyone into action. People simply find a way to make it possible one way or another.
The reason deadline works is because of how human mind is wire to react. When you give someone, or even yourself, a deadline they don’t want to disappoint the promise. Deadline gives them a target to shoot for. Without it they will not only not push themselves to complete it; but also keep the work going forever.
So how can you use the power of deadline to help you accomplish your goals even if they may not be as ambitious as putting the man on the moon? We have identified several ways from our own experience.
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Do not Fall into “Busy Trap”


If you are like many small business owners you do not put together a plan when starting your day. Instead you just react to whatever comes your way throughout the day. And even if you do plan your day in the morning; you start reacting to the requests and tasks that come your way throughout the day – things like customers calling to complain, employees calling in sick, store emergencies and many other operational issues.
In the previous blog post we mentioned that the ”to-do list” is a very powerful tool to plan your day and accomplish more in less time. However, when emergencies mentioned above start coming your way the to-do list gets thrown out the window and people start reacting to those emergencies. This is what we call the “Busy Trap” – you always seem busy; but don’t seem to accomplish much of whatever you had set out to do at the beginning of the day. At the end of the day you look back and think – “what the heck did I really accomplish today?”
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