Business Management

To be sure that you won't be losing everything in the early years of your business, sufficient preparation, like hiring the best people, being organized, and setting up strong and solid motive metrics should be present.

When you start a company, you must plan everything very carefully. Just like a building, foundations need to be strong in order to hold the entire structure for a long time. No matter how rough the winds may be, you can be sure of the building's stability. A young company is always easy prey for larger and older companies. Especially if your company is directly in competition with these old-timers, they will make sure they get all your customers, or worse, even buy you out.

To prevent older and larger companies from getting at you, putting up a solid defense and outsmarting them should be the first things you do. By solid defense, we mean that you do not give in easily, like losing customers. Turn customers into loyal consumers of your products and services. For sure, even if you think your competitors are almost at the brink of stomping you down to the ground, loyal customers will be your life support and their patronage will keep your company alive.

Other than making an impression and making your customers loyal to your brand, you can do a lot of strengthening at the backend of your company as well. This is your work force or your employees. If competitors are not able to penetrate and get in the front door with your customers, they can sneak in at the back and take aim at your employees. Knowing you have an outstanding line up of workers, they can "bribe" these workers to leave your company for theirs by offering attractive compensation packages. Being old and well-established companies as they are, you know they can afford that.

To remedy this possibility of pirating your employees, you resort again into making your workers loyal to your company. If you can successfully motivate your employees from the start and you engage in open communication by showing them what your plans are for the company, you just might increase your chances of keeping your workers loyal to your company. Instilling in your workers the right amount of motivation weighs heavier than a fat paycheck.

The success rate of making workers loyal and stay in your company is never 100% because there are workers who would not hesitate moving to other companies for larger compensation packages. This should be understandable, after all your employees are working in your company for money in the first place. Knowing the inevitable fact that piracy of your workers can be the most serious threat to your company, continue to organize your company further and make sure to practice excellence all the time. If this is unavoidable, then the main thing to do here is to implement quality motive metrics. This way, your employees will be motivated enough to stay loyal to your company and remain under you employ. Incentives and bonuses are definitely a must here so make sure to be ready with these.