How America's Richest Self-Made Woman Guided Her Company To Record Highs After The Sudden Loss Of Her Husband
"[You] don’t have to change your goal. Change your path, be willing to, and don’t see that as a failure. That’s just life."
Diane Hendricks
Lessons Learned:
- In times of trouble or suspected recession, do not:
- Hire more people
- Take on more debt
- Have a plan in place
- "A goal without a plan is just a wish"
- Have this plan written out and communicated to the people of the organization
- Practice this plan or use it as a training mechanism within the company
- Do more with less
- Become more efficient with your systems and processes
- Ask your team to do extra, beyond their normal daily responsibilities
- Reward your people for doing extra work
- Both extrinsically and intrinsically
- Do not be afraid to take risks
- However, calculate those risks
- If giving away part of the company, insure a buy back plan if viable and desired
- Community involvement is so important
- Helps with company image and perception
- Can create programs to train the future of your industry
- This idea ensures longevity and possible retention of employees, for those impacted by the type of service provided to the community
- Provides invaluable intrinsic value to the company, people and personal
- Promotes empowerment of your people, which in turn, encourages retention
Read the full article here: http://www.forbes.com/sites/jenniferwang/2016/06/07/how-americas-richest-self-made-woman-guided-her-company-to-record-highs-after-the-sudden-loss-of-her-husband/#48bdb6371e05
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