No matter what type of business you’re in, boosting your bottom line is always in the back of your mind. In a rough economy, it can be tempting to focus too much on pulling in more money and not enough on containing it from within.

That’s right, containing it. You have the potential to lose hundreds of thousands of dollars every year right under your nose from something as simple as lack of or ineffective computer training.

How much do the employees you have working for you right now really understand about technology? How good is your IT tech department? Technology changes faster than a blink of an eye and oftentimes, businesses struggle to keep their top employees trained.

With millions of dollars being lost to Internet espionage, file corruption and other computer crimes, staying on top of changes is essential. Recently, online learning centers have been emerging as the go-to method for quick and inexpensive learning. Unfortunately, this type of computer learning isn’t always the best solution.

When it comes to running a start up, leaders need to make sure that their key players are motivated. This has been seen with many companies. Back in the 1970's it was found with the inspiration and diligence of the late Daniel Nigro when he formed Kleer-Fax. More recently it was seen in David Khasidy, the founder and recently retired president of SunRay Power Management, the most dynamic green energy leader in the US today.

The question is, what is it that great leaders like David Khasidy and Daniel Nigro do that make the difference? How do the most vulnerable companies (start ups) break the mold and become a part of our everyday lives?

It starts with their mission and vision.

Create a Strong Mission and Vision

There are many reasons why start ups fail. For one, they usually lack the capital to last through the lean times. Secondly, they often don't have the tolerance for setbacks that occur. Lastly, they do not have a long-term plan, also called a mission.

When a business has a strong mission, the team knows it and their focus toward their work and service to others within and without the company reflects that. To complement that, the shorter term vision of the company needs to be present as well.

This can even be seen in sole proprietorships with no employees, such as when Brian Pascale started his law practice. His vision was to find justice for his clients while his mission was to build upon a career that had already set precedents in the area of tort law.

As his practice has grown, new staff members can sense the vision and mission he exudes.

Encourage Ownership of Projects and Processes

Start ups need to inspire and motivate their employees because they need to know that they are not only a part of something important, but that their contributions mean something.

What won't happen if they are not there? What contribution do they make, and what are the consequences of them not fulfilling their part of the work?

By encouraging ownership in projects, team members can find that the work they are doing is not only important for the organization, but that they are going to be a big part of what makes it happen. The alternative is that they feel replaceable.

Offer Incentives That Keep the Company Competitive

When team members embrace the mission and vision of the company, and then take ownership for the company's success, they are going to need to be justly rewarded.

This could include flexible schedules (for those who don't need a stringent one), use of an account at a nearby takeout place, or even the potential for ownership as a result of a vesting program.

The incentive everyone is looking for more immediately, though, is cash. When the company takes in more revenue as a result of the efforts of those on the team, rewarding them can go a long way not only in making them feel appreciated, but in encouraging them to bring in more business.

Members of a start up team are usually very talented, and commonly underpaid. However, if they believe they are going somewhere, it will make a big difference.

Related:

Good non-programmer jobs for people with software developer experience

Welcome to the career field of Business Intelligence. Business Intelligence is a concept that involves a certain level of interaction within an organism, analytically and dynamically, to come to business solutions which implement better, more effective and timely decision making. These solutions are reached by establishing an understanding of the right kinds of user data: what is going well, what is going wrong, taking and monitoring certain actions, previously unknown trends, and patterns, and improved collaboration. When all of this data is taken into account, the entire decision-making process, within a business, will inevitably improve. As an Oracle BI developer, there are specific skills which will drastically make your job easier and results more effective. As time goes on and technology changes, the list is constantly being updated. The following are skills an Oracle Business Intelligence Developer might need to know or learn in 2019.

Communication

A project manager acts as the primary link between business and technical teams. A project manager is responsible for maintaining the project schedule, developing project estimates, working with external teams and tracking project issues. The project manager belongs to either the technical team or the project management office (PMO). The project manager works with business teams, technical teams, business counterparts, testing resources, vendors and infrastructure teams.

A project manager is often challenged with diagonally opposite views from the business side and technical side. A project manager’s success depends on balancing the needs and emotions of both sides.

Understanding the Requirements
A project manager must familiarize with the project’s requirements as defined by the business or product managers. This will help you understand the business vision behind the project. You will need this knowledge while negotiating with the technical teams.

Understanding the Technical Landscape
A project manager must also understand the technical systems, resource skills and infrastructure capabilities available for the project. Business teams come up with expectations that are sometimes beyond the capabilities of the technology team. It is the responsibility of the project manager to understand the technical capabilities available to the project.

Walkthrough of Business Requirements
This is a critical step in the project delivery process. The project manager must invite members from the business team, technical team, testing team, infrastructure team and vendors. The project manager must encourage the various stakeholders to ask questions about the requirements. Any prototypes available must be demonstrated in this meeting. The project manager must find answers to all questions resulting from the requirements walkthrough. The project manager must get the final version of the requirements approved by all stakeholders.

Managing Conflicts in Timelines and Budgets
All project managers will face the conflicts arising from shortened timelines and limited budgets. Business teams typically demand many features that are nearly impossible to deliver within short timeframes. The project manager must work with business and technical teams to prioritize the requirements. If the project is executed in a product development organization, then the project manager could utilize agile methodologies to deliver projects incrementally. In this case, the project manager may be required to act as a scrum master to facilitate scrum meetings between various stakeholders.

The Art of Saying “No”
As a project manager, you may be forced to say “no” to demands from both business and technology teams. However, it is important to create a win-win situation for all parties when you are faced with conflicting demands. You can work with the stakeholders individually before bringing all parties together. Most stakeholders prefer to work together. The success of a project manager depends on how effectively he or she can bring out the best in everyone, driving everyone towards a common goal.

Finally, the job of a project manager is not to satisfy the demands from all corners. The project manager must identify the essential deliverables that will meet the business needs, with a solid understanding of what is possible within the limits of technology.

Related:

Smart Project Management: Best Practices of Good Managers

Is Agism an Issue in IT?