1. BAD APPLE. Business decisions are tough, but act quickly with acidic personalities. Making a
change is difficult, but you must be fair to everyone on the team. Make bold moves!
2. Give Purpose, Not a Job. PURPOSE is higher-up on Maslow's Hierarchy of Needs. A Job is a paycheck. A Career is a long-term paycheck. Today's workforce demands purpose.
3. Everyone is the CFO! Be sure you bring on staff who want to understand the numbers, not just produce them. Cross-training, career development plans, and great communication are all keys to success!
4. Past=Future. A person's past behaviors are the best indicators of future behaviors. Be sure you familiarize yourself with Behavior Based Interviewing tactics.
5. Engage in Vendor Negotiations with a TEAM. Be sure each member has a unique role.
6. Encourage Constructive Disagreement. Group Think keeps many of us from voicing our opinion, as we often worry that dissent=dysfunctional. NOT TRUE. Create ground rules which encourage respectful constructive disagreement
7. Highest Interest First! If you are lucky enough to be able to pay extra towards debt, credit cards will almost always come first. Pay the minimum elsewhere until highest debt is paid first. Most common mistake is paying extra on student loans or mortgages while still maintaining higher interest debt.
8. When in doubt, DON'T HIRE! Wait for the right talent, don't force it.