Do You Run Your Small Business or Does it Run You?

November 18th, 2008

I have come across a great five question quiz to know how effectively your business is efficiently running. The link is below from Score.org. 

     It is important to understand how efficiently your business is operating. If you are feeling that your business is pulling you in every direction, then it is time to step back and look at how strong the planning and strategy of the company. It like, “are you walking the dog or is the dog walking you”? Taking even a couple of hours a week to laying out tasks to work “in” the business and tasks for “on” your business will save you hours of stressful situations wondering what to execute.

     The link below will help you define how effectively your ownership skills are being implemented.

http://www.score.org/cgi/quiz.cgi?quiz=internet_do_you_run_your_small_business_quiz

 

Thank you for your time! Look for more tools for effective business development.

Joe Sobieck

Starting your Strategic Planning?

November 18th, 2008 

When starting to create your Business Plan or Strategy, the planning should follow your Organization’s; Mission, Value and Vision (MVV).

Your MVV is actually the ground work and first steps of any planning for your Organization. It is allows an Organization to set the tone, purpose, and core values. MVV is also integrated into Organization’s Training to establish an employee’s mind set, how to conduct itself, and understand the direction. Below is a brief outline in creating a Mission, Value and Vision.

Mission;

1. Should establish a strong sense of organizational identity and purpose

2. When wording the mission statement, consider the organization’s products, services, markets, values, and concern for public image.

3. The statement should clearly separate the organization from all other organizations and competition.

 

Value;

1. Values represent the core priorities in the organization’s culture.

2. Values are increasingly important in strategic planning, often driving the intent and direction.

3. Establish four to six core values from which the organization would like to operate. Consider values of customers, shareholders, employees and the community.

 

Vision;

1. This is your time to briefly outline the big picture of the organization.  Example; Who we are, What we do, and Where we are headed.

2. Creating the value is setting up the long term direction.

 

Keep looking for more on strategic planning tips. Thank you for your time.

Joe Sobieck

Pros and Cons of a Diversified Portfolio

November 17th, 2008

Having a diversified portfolio is having many stocks from different industries and creating security in your portfolio or 401k. Here are a cumulative of pros and cons I have put together to consider diversifying your portfolio.

Pros

1. One or a few poorly performing stocks do not significantly reduce the overall portfolio performance.

2. It requires less active management, with fewer buy and sell decisions, and attendant lower costs.

3. Performance is highly correlated with broad indices, either market or sector, and thus does well in a general up market.

4. Performance will be no worse than the broad market or index.

Cons

1. An excellently performing stock does not significantly improve the performance of the portfolio, and thus large potential gains are missed.

2. Performance is highly correlated with the broad market or sector, and thus does poorly in a down market.

3. Performance will not be better than the broad market or index.

 

Thank you for your time.