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Four Reasons Why Small Businesses Succeed (or Fail)
The American system of business management has been admired and emulated around the world. This system is characteristic of two traits in the American psyche: (1) enthusiasm for the future and making things better, and (2) an openness and...

How to secure your small business with a PIX firewall
One of the more popular firewall products for the small business market is the Cisco PIX 501. Out of the box it requires just a few configuration entries and you are up and running. In this guide, we will walk through the steps for configuring...

Small Business 'No' How - Don't Give Away the Farm
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Venture Capital Funds For Entrepreneurs and Small Businesses
Venture capital is a fund raised by a group of wealthy investors, which is then made available to small companies and startup firms. These small businesses and potential entrepreneurs usually have excellent growth potential but lack the funds to...

Why Small- and Medium-Sized Businesses Should Monitor the Media
As the owner or an employee of a small- to medium-sized business, you might have never thought about media monitoring. Maybe you are not even sure what exactly is meant by this and have thus ignored it so far. But you should take some time to get...

 
Firing Underperforming Employees in Your Small Business




Here are a few tips on how to hand out pink slips when it comes time to terminate an employee.


As a small business owner with employees, you will likely find it necessary one day to terminate an underperforming employee – if you haven't already. In an ideal world, that wouldn't be so. We would hire the right people from the start, and then train and motivate them to do the job.


But, that's not realistic. In the audio book, “Sound Advice on Small Business,” entrepreneur Jim Schell says, “The world and the people who inhabit it fall something short of perfect, and thus firing is a necessary evil of having employees.”


For some small business owners, taking this unfortunate step is stressful. It might be tempting to delay the action. Schell says don't. “Once you've made the decision, get on with it,” he says. “Procrastination is painful for both parties.”


Before calling the employee into your office, prepare yourself mentally. “Remember that the underperforming employee is dragging down the rest of the team,” says Schell. “Good employees are being penalized.”


Finally, Schell suggests doing the dirty deed on Fridays. “Give both parties the weekend to recover,” he says. “And remember, it's a heck of a lot harder on whoever's on the other side of the desk.”


Jim Schell, co-author of “Small Business for Dummies,” offers advice to entrepreneurs on managing a small business in the free audio newsletter from What's Working in Biz, http://www.whatsworking.biz/full_story.asp?ArtID=92.






Richard Cunningham is a principal of What's Working in Biz, http://www.whatsworking.biz, the audio marketing firm bringing voice to the insights of business experts through audio books, newsletters, and magazines.




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