Learn new lessons, take risks, and make sure your passion is always protected with our PA Liability Insurance!
8/31/2011 10:50:00 AM
According to The Delco Times, the news that icon Steve Jobs left his position on August 24th was a stun to some. However, as Apple's former chief executive, small businesses should wonder what they can learn from Jobs' time running one of the most innovative companies in the U.S.
There are many lessons this man’s reign can offer to small-business owners. After all, the company was once a small business, started in a garage in the 1970s. The following are lessons you can learn from Steve Jobs:
Lesson 1: Don't be afraid to go out on a limb.
He pushed the envelope by giving consumers what they wanted probably even before they knew they wanted. "What Steve Jobs brings to Apple is he is an incredible innovator, and this is something small-business owners can really emulate with great success," says Alice Bredin, small-business adviser to American Express (AXP) OPEN and president of Bredin Business Information.
Lesson 2: Have a succession plan.
While small-business owners typically wear many hats, preparing for the future or an unforeseen event may not be a priority. This is a mistake, says Carolyn Thompson, director of the metro-DC region of Dixon Hughes Goodman's human resource services division. Apple is known for its succession plan. Thompson says it's important to "spread out the intellectual capital" among two or three key contributors, so someone else can step in to run the business if necessary.
Lesson 3: Commitment to and passion for the business are key.
"It had to be done what he considered the right way. I view that as a strong trait in entrepreneurs and small-business owners," says Tom Shinick, president and CEO of Corporate Development Partners and a professor of small-business management and entrepreneurship at Adelphi University. Another key attribute of Jobs' was his enthusiasm and the ability to convey that enthusiasm to the right people. "You really need to sell people that you're going to be successful in the company in order to recruit" an audience, whether that's customers or investors, Shinick says.
Lesson 4: Hire the right people.
Jobs made it a priority to hire the best and wasn't afraid to fire people when they did not live up to expectations, experts say. "He didn't allow mediocrity to set into the company and the products and certainly of the people he put around him," says Craig Libis, CEO of Executive Recruiting Consultants.
Lesson 5: Execute.
"As large a business as Apple is, they have very few product lines. They're not trying to do too many things, but what they do, they do it excellently," says Corey Ackerman, senior partner at Cornerstone Search Group. "The more you do that that is average, the less response from the marketplace."
Through all of these lessons, it is understandable why being a small business owner can be stressful at times. At Montgomery Insurance Services Inc., we know how much responsibility you have to run the company smoothly and fairly. This is why we are here to support you during the unpredictable times with our PA liability insurance!
Our general liability is one of the most all-encompassing policies on the market today. This is because it provides coverage for liability issues resulting from personal and advertising injury, including medical expenses.
This policy addresses accidents stemming from on-site mishaps and any injuries or damages incurred as a result of using goods or services sold on-premises. In addition, it can be designed to cover supplemental payments for attorney fees and other expenses associated with a claim or the defense of a liability suit.
With a customized plan to meet your needs, you don’t have to worry about where you passion will take you. Although it is a lot of hard work, being a business owner is very rewarding. So let us provide you with peace of mind through our reliable PA liability insurance!
There are many lessons this man’s reign can offer to small-business owners. After all, the company was once a small business, started in a garage in the 1970s. The following are lessons you can learn from Steve Jobs:
Lesson 1: Don't be afraid to go out on a limb.
He pushed the envelope by giving consumers what they wanted probably even before they knew they wanted. "What Steve Jobs brings to Apple is he is an incredible innovator, and this is something small-business owners can really emulate with great success," says Alice Bredin, small-business adviser to American Express (AXP) OPEN and president of Bredin Business Information.
Lesson 2: Have a succession plan.
While small-business owners typically wear many hats, preparing for the future or an unforeseen event may not be a priority. This is a mistake, says Carolyn Thompson, director of the metro-DC region of Dixon Hughes Goodman's human resource services division. Apple is known for its succession plan. Thompson says it's important to "spread out the intellectual capital" among two or three key contributors, so someone else can step in to run the business if necessary.
Lesson 3: Commitment to and passion for the business are key.
"It had to be done what he considered the right way. I view that as a strong trait in entrepreneurs and small-business owners," says Tom Shinick, president and CEO of Corporate Development Partners and a professor of small-business management and entrepreneurship at Adelphi University. Another key attribute of Jobs' was his enthusiasm and the ability to convey that enthusiasm to the right people. "You really need to sell people that you're going to be successful in the company in order to recruit" an audience, whether that's customers or investors, Shinick says.
Lesson 4: Hire the right people.
Jobs made it a priority to hire the best and wasn't afraid to fire people when they did not live up to expectations, experts say. "He didn't allow mediocrity to set into the company and the products and certainly of the people he put around him," says Craig Libis, CEO of Executive Recruiting Consultants.
Lesson 5: Execute.
"As large a business as Apple is, they have very few product lines. They're not trying to do too many things, but what they do, they do it excellently," says Corey Ackerman, senior partner at Cornerstone Search Group. "The more you do that that is average, the less response from the marketplace."
Through all of these lessons, it is understandable why being a small business owner can be stressful at times. At Montgomery Insurance Services Inc., we know how much responsibility you have to run the company smoothly and fairly. This is why we are here to support you during the unpredictable times with our PA liability insurance!
Our general liability is one of the most all-encompassing policies on the market today. This is because it provides coverage for liability issues resulting from personal and advertising injury, including medical expenses.
This policy addresses accidents stemming from on-site mishaps and any injuries or damages incurred as a result of using goods or services sold on-premises. In addition, it can be designed to cover supplemental payments for attorney fees and other expenses associated with a claim or the defense of a liability suit.
With a customized plan to meet your needs, you don’t have to worry about where you passion will take you. Although it is a lot of hard work, being a business owner is very rewarding. So let us provide you with peace of mind through our reliable PA liability insurance!