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First-time CEOs may find it daunting to establish their first board of directors. This topic expert details a four-step process to building boards that can help growth companies thrive.
Entrepreneurs confronting the unhappy task of having to downsize when business conditions change need to execute in a way that preserves the dignity of, and, ultimately, the relationship with, the employees, says an entrepreneur who laid off her entire staff in the wake of the dot-com crash. Downsizing well involves throwing away the rulebook and dealing with people on a personal level, she writes.
Compensating contract workers involves negotiating a rate that reflects skills and experience, paying in a timely manner, and possibly offering perks such as professional development, says the founder of a company that develops training manuals. A key is not to treat 1099 workers as employees, the author advises.
Age is an issue for today's entrepreneurs, especially those in technology-based businesses, writes the author, who founded an Internet company right out of college. Younger entrepreneurs, he argues, are more likely than their elders to be technologically astute and to be creative and flexible, attributes that are integral to their companies and enable those enterprises to succeed. The author includes tips for using youth as an advantage in business.
Entrepreneurs of a certain age need to accommodate the changes in attitude on the part of the younger generation or risk becoming dinosaurs, writes the author, who turned to entrepreneurship after a career in the U.S. Army and at a major corporation. Today's young people are technologically savvy, casual about dress and deportment, and forward about expecting to advance at a younger age, he says. He includes tips for adjusting one's management style to help -- rather than change -- the new generation.
The toughest and most important job of an entrepreneur is to select the people to bring into his or her company. The author suggests a way to do this: listen for the electricity.
The decision to terminate an employee can be both emotional and frustrating. If not handled properly, it can also result in expensive litigation. These days, wrongful termination lawsuits are not idle threats. According to a recent study conducted by Jury Verdict Research, recently fired executives who sued are winning often and winning big.
People infected with HIV, whether or not they have AIDS symptoms, are protected in the workplace by federal and state laws concerning discrimination and disability. These guidelines for education, testing and accommodation policies can help entrepreneurs avoid problems.
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