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All companies are unique, yet many have similar characteristics. Most business organizations face many of the same issues, yet in differing capacities. Giving room for uniqueness, the following list includes many of the issues experienced by the LaMarche Consulting Group in serving the needs of the principals of small to mid-cap business entities.
The following are issues commonly faced by the Principal of the small to mid-cap, for-profit business entity:
- Undefined personal focus of the owner/principal.
- Technical skill versus leading/managing skill.
- Entrepreneurial versus operating talent.
- Inability to generate buy-in from employees.
- Inability to address accountability of self and employees.
- Difficulty in managing diverse employee types.
- Failure to set goals or monitor progress and make corrections when necessary.
- The need for Strategic and Tactical planning.
- The need to address succession and transfer of responsibilities.
- How to establish clear, measurable roles and responsibilities.
- How to determine and act upon issues most critical to success.
- How to recruit and retain key employees.
- How to delegate with accountability.
- How to balance life between work and home.
- How to effectively prepare and incorporate family members into the organization.
- How to remove family members from the organization.
- How to ensure an effective Board of Directors/Advisors.
- How to continue growing individually.
- How to generate efficiency yet maintain simplicity.
- Confusion between revenue and profit as business criteria.
- Difficulty in defining a true market niche.
- Difficulty in dealing with clients.
- Poor internal management systems.
- "Doing" versus leading.
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