This week’s top stories include small business advice covering the following four topics:
- Why Most Entrepreneurs Aren't Delegating Effectively
- Inmates are learning to be their own bosses after they leave jail behind
- The ultimate side hustle guide for 2021
- 25 Awesome Customer Service Tips You Must Employ in 2021
Each week we scour all the top business-related magazines and newspapers for articles with the best advice for the small business owner, so you do not have to.
Inside every small business owner, there are 3 personas, each competing for time as the leader. The three personas are the technical person (work-focused), the President (inwardly-focused), and the Chief Executive Officer or CEO (outwardly focused). To succeed, a business must possess all three personas.
Abraham Maslow theorized that people are motivated by five types of needs. How an employer meets these needs changes with each level and contributes toward employee job satisfaction resulting in lower turnover and higher employee retention.
Leadership and management are both essential elements of business success. Leadership is closely aligned with the role of a CEO and Management to the role of the President. Even though there is a difference between leadership and management most people use them interchangeably which is incorrect.
Corporations are legal entities that have stockholders and require a rather specific corporate structure to be compliant. The structure can be thought of like a pyramid with shareholders at the bottom, the board of directors in the middle, and officers at the top.