Remove 3
Remove 2001 Remove Cost Remove Hiring Remove Management
article thumbnail

Be Careful not to be Penny Wise, Pound Foolish

Both Sides of the Table

.&# I took it to mean, “making decisions with small amounts of money (pennies) that end up making bad sense for affecting larger amounts of money (pounds, as in Great British Pounds).&# I thought of it as people who cut corners on small costs but paid dearly in terms of lost productivity on expensive staff.

Warrant 333
article thumbnail

Three Counterintuitive Ways To Build A Business That Lasts

YoungUpstarts

It costs up to one fifth of an employee’s annual salary to replace a team member when they go, so it certainly pays off to keep your staff on board for as long as possible. Of course, there’s a drawback – it costs the company tens of thousands of dollars a year. Hire great people to do boring work.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Do Your Employees Think Like Owners? 10 Tips For Building An Entrepreneurial Culture.

YoungUpstarts

Hire for hustle. A great way to separate the entrepreneurial thinkers from those who aren’t is to place a special emphasis on hiring people with a sense of urgency; people who can and will move quickly; people who don’t always have to be told what their next step should be. Use performance-based compensation. It kept multiplying.

Employee 208
article thumbnail

Marketing and Growth Lessons for Uncertain Times

ConversionXL

Yet in expansionary periods, successful leaders spent significantly less on [selling, general, and administrative costs] than did their former peers. A focus on cost cutting—every decision is viewed through a loss-minimization lens. As the authors found, “Firms that cut costs faster and deeper than rivals don’t necessarily flourish.

Marketing 121
article thumbnail

Seven Ways To Make Sure Accountability Sticks In 2014

YoungUpstarts

We recommend it, because meetings provide an opportunity for management to highlight people who have demonstrated good accountability, as well as to show where things went wrong and what could have been done better. Hire accountable people. Of course, hiring an employee and then training him to be accountable is possible.

article thumbnail

boldstart 2018 recap and what’s hot in enterprise 2019

BeyondVC

Truly amazing that all of these companies went from slide deck to B in approximately 3 1/2 years. In 2019, we’ll be doubling down on this effort as we are hiring a GM for our CXO Advisory Board & Network ( job description here ). Look at 2001 and 2008’s Lehman collapse and Sequoia RIP Good Times deck for lessons learned.

Stealth 79
article thumbnail

26 Businesses You Can Start for Free

Up and Running

Here are 26 businesses that you can start virtually free (and those that aren’t completely free are quite low-cost). While not a new concept, monetized blogging is always a popular option for an essentially no-cost business. Maybe you’ve worked as a hiring manager for years, and you know exactly what employers are looking for.

Design 60