Failing to Plan is Planning to Fail Prepare and work from a written plan that delineates who in the total organization is to do what, by when. Use your business plan as a budget. If you cannot stick to that budget, your business plan is too ambitious. Pick the Winners and Pay a Premium Employ key people with proven records of success at doing what needs to be done, in a manner consistent with the value system of the enterprise. When in doubt, hire your biggest or best competitor's key people.
Free agency works in business too.
Reward the Superstars Reward individual performance that exceeds agreed upon standards. Move the non-producers into administrative positions, or replace them. Expand methodically from a profitable base toward a balanced business. A smaller, more focused business can sometimes be far more profitable and stable than a large and fractured one. Project, monitor, and conserve cash, and protect credit capability.