Vistage UK Blog

Why Your Company's Collective Knowledge is a Potential Gold Mine

Posted by Grant Goodwin

01-Oct-2014 12:58:00

unlock_your_knowledge

Many entrepreneurs, business owners, executives, and CEOs think that their business’ best asset is what’s in the bank account. They think value comes from a warehouse full of products or an office full of expensive equipment. But the truth is, a business’ best asset is something much more powerful: its institutional knowledge. When the staff fails to capture that knowledge and make it shareable, that business bleeds value left, right, and centre. It’s up to the leadership team to ensure that institutional expert knowledge isn’t sidelined or going to waste, causing untold inefficiencies and missed opportunities.

What Happens When Knowledge Stays In The Brain?

When an organisation’s collective knowledge is trapped in the brains of its best personnel, countless opportunities to support employees and clients are missed. Just look at the problems a business faces when its collective knowledge isn’t tangible and accessible and is only transferred verbally:  

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Topics: Business, Getting ahead, Sales, Employee Motivation

Why Great CEOs Often Work Less to Achieve More

Posted by Robert Craven

29-Sep-2014 17:42:05

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We are endlessly told that hard work creates more profit. Work harder to create more profit in your new business. Does more work really mean more profit? Do we have to put in ludicrously long hours to be successful?

We have been brought up to believe that working more equates to being more successful. More input equates to more output. Well, I am not sure I agree. I think the logic (and many of the assumptions behind it) is flawed. 

Sure, if you are a one-person-business, charging per unit of time, then more units equals more money. But most businesses try to grow by employing people to spread the workload. Or, maybe you should simply charge more per unit of time! 

For those of us who are not charging by the hour, then I would argue that it may well be more profitable to work less. I repeat… to work less. Less hours… less stress… less banging your head against a brick wall.

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Topics: Work/life balance issues, Life at the top

Are Your Sales Teams Still Making Basic Mistakes?

Posted by Matt Garman

27-Sep-2014 09:05:00

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I recently had the opportunity to sit with one of our clients in a Marketing / PR presentation that was being given to them about how to better position their business online.  Sadly, my recent experience has revealed that there are still some basic sales mistakes that many sales professionals are making today.

The client in question is one that we have been helping with their sales team for a while now so I have got to know the owners pretty well.  They had asked me to be there in an observation capacity and to make sure that whatever branding and imaging improvements being considering were fully aligned to the sales effort, which made perfect sense.

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Topics: Sales

The Advantages and Disadvantages of a Family Business

Posted by Reg Athwal

26-Sep-2014 14:00:00

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Before you get the idea that family businesses benefit only the family members involved, think again. Successful family businesses are a win/win. They benefit both the local and global economies, and in a big way. However, how can it also be true that fewer than 10% survive to the third generation and less than 10% of owners are financially independent from their businesses when they retire?

Family firms come with their own set of unique advantages and challenges. In order to be successful, the advantages must be capitalized upon and the challenges overcome.

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Topics: Family business

For the Sake of Your Business, Stop Procrastinating Now!

Posted by Chris Croft

25-Sep-2014 17:17:00

procrastination_tips

Procrastinating tasks is like eating apples that are past their best. If only you had done them straight away they would have been fresher and better but no, you left them until they were almost too late, or even perhaps virtually inedible!

Why on earth would a person choose to eat wrinkly apples when the world is full of fresh ones?  Why on earth would a person choose to do most of their jobs when they are nearly overdue - it's worse customer care and much more stressful to do it this way.

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Topics: time management

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