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Business Innovation: how to make sure your business succeeds today

With the constant change of technology, and the changing trends in the way people go about conducting their business, it is clear to everyone that we have witnessed tremendous changes in the economic field. This is the clearest signal that business will never be the same again.

If you are an entrepreneur, maybe an unemployed person who wants to try out their lack in the field of business, or maybe you are a seasoned veteran who wants to reinvigorate yourself and propel yourself to the heights that you used to operate in before. The current environment dictates that you do things differently so that you can ensure your survival. In this state, everyone must change and do things differently so that they can survive.

How to make sure your business succeeds today

Having a written plan of action

gfjgjhgjghjghjhgThis is the first step towards ensuring that your business becomes and remains successful for a considerable amount of time. Without a plan, you will not have direction on where you are coming from or going to. You do not need to have a book that is elaborately written; you need to have a few pages that will have a brief and clear outline of your specific objectives, the strategies that you will use in running your business, your financing and of course it should clearly outline your sales and marketing plan. This is the first and most crucial step in ensuring that you start, run and maintain a successful business.

Do not marry your plan

Do not make a mistake of being too rigid with your plan. Even the best of military generals will tell you that even the best laid-down plan that has absolute precision can be abandoned when the dynamics of the battlefield change. Thus you are supposed to adjust as per the conditions that you get in the market.

Listen to others

dgdfgfdgdfgfdgtretWhen you are running your business, to ensure that you become successful, it is important that you listen to the others who are offering you advice, while ensuring that you keep your ego in check. It is important that you have advisors, as they are the ones that you will test your ideas with, they will also inspect what you are doing and give you their opinion, they will also ensure that you are accountable hence pushing you to great accomplishments.

Ensure that you delegate and avoid micromanagement

As the business owner or manager, ensure you delegate where necessary while ensuring that you are there to inspect the progress that is being made. If you can ensure proper delegation, your business will be better and more successful than you initially thought.

Additionally ensure that you consult the internet on a regular basis on the best ideas on how to improve, while also ensuring that you reinvent yourself from time to time.

The 3 Biggest Obstacles To Good Decision Making

Decision making is at the heart of every successful organization. So, for leaders, it’s useful to understand a little more about how decision making works and some of the major obstacles to it.

Thankfully, advances in neuroscience in recent years have helped shed light on how people arrive at decisions;

The main impediments to coherent decision making

Perceived threat

ytgxchjWhen we perceive the threat, the more ‘primitive’ parts of our brain tend to take over as we go into a stress-response mode. This is the ‘fight or flight’ mentality. We still make a decision, and it can even be the right one in the circumstances: to run away from a loud bang, for instance. However, in the workplace, physical threats (which our primitive brains are well-attuned to responding to) are few and far between.

The threats we perceive are more likely to be to our reputation, our job security, or other such factors. The response in the brain, though, is the same: cortisol is released, which speeds up the heart rate, and the more executive-thinking parts of our brain (which we often need to engage in workplace decisions) are essentially hijacked by the threat response. Where there is perceived threat, therefore, good decision making is unlikely.

Unreliable memory

Human memory is very different to computer memory. Data is not just entered, stored, and retrievable in the same format, as needed. The data in our memories changes over time! That’s because human memory is subject to influences and biases, and is far more complex. You will have experienced what can happen to memory when asking someone to recount the same event at different times. The two accounts are not usually identical.

Memory is heavily influenced by our ego; most people will naturally adjust memories to protect their sense of self- value, rather than have 100 percent truthful recollections. This is sometimes called the ‘self-serving bias,’ and is just one of the many biases that can affect our decision making.

Cognitive biases

5rtfgvcvhRational judgment and decision making become even more difficult when we are subject to any of the many cognitive biases just mentioned. These can be powerful influences, leading us to make poor decisions – even when we know that we are irrational.

Furthermore, instances like being tired, can also disrupt the cognitive functions, which leads to poor decision making as well. The good thing is, there are ways in which you can avoid this. You can get Modafinil online. This is a special type of pill that helps improve your cognitive functions.

Being aware of the three factors above is the first step to making better decisions. If we understand the potential threats to clear thought during the decision making process, we can recognize when they are hijacking our brains!

How To Delegate Tasks For A Long Term Departure

Delegation plays an immense role when it comes to management of people, resources as well as time. However, delegating tasks in an organization can be among the most difficult things to undertake.

Here are tips you should not miss!

Understand why delegation is important

rdfcgvhxcbYou have to understand the importance of delegation before making any decision. Inform your staff about the process before you leave them with any project to work on. Ensure that you use all the available resources within your reach. Get clear about your delegations goals.

Identify important activities

After you have identified the goal of the delegation, you need to know that time and efforts are vital. Find out the high-value activities in the business so that you can start with them. Through the identification of these activities, your employees will understand the importance of delegation.

Identify the tasks to delegate

There are various tasks to be undertaken by the organization. You need to find out all the tasks so that you can delegate them accordingly. There are certain tasks that you cannot delegate to some employees. It is wise to understand which tasks suits which person before you delegate the same at the end of the day. Find out the number of tasks that you need to delegate so that you can assign them in a proper manner.

Identify the right employee to perform the task

Each employee has his or her strength. You need to determine which employee can perform a specific task. You should assign tasks according to the interest. An employee without interest is not likely to perform the task at hand as expected. Use certain identification criteria to assign various tasks to members of your staff if at all you want perfect results in the long run.

How much of the task you want to delegate

34erdtdffgThere is no need to delegate the entire task to someone if you are not sure whether he or she will do the same perfectly. It is wise to delegate a section of the task and wait until it is done before you assign more work. This will ensure that good work is undertaken at the end of the day. It is risky to delegate a task if you are not sure whether the person will work as expected. In conclusion, proper delegation can enhance your productivity. It does not make sense to struggle with everything when there is an employee who can assist you. You can take advantage of delegation to increase your production.