7 Ways You Can Set Better Goals For Sales Teams

Harvard Business Review provides guidance on strategies to use when sales goal setting can be prone to error. Most sales forces use sales goals to focus attention on what’s important and give salespeople direction about what to do. Goals energize people and encourage them to keep going. Very often, companies link sales force incentive pay to goal achievement. This makes effective goal setting essential for directing and motivating sales teams and controlling sales compensation costs. Even in today’s data-rich environment, it’s often difficult to overcome the uncertainty inherent in goal setting. Market and economic uncertainty can […]

GDPR Guidance for a ‘No- Deal’ Brexit

Cyber Insurance and GDPR Ireland

The Data Protection Commission recently issued guidance on the transfer of personal data from Ireland to the UK in the event of a ‘No-Deal’ Brexit. Are you an Irish company that transfers personal data to the UK (including Northern Ireland)?   See below a non-exhaustive list of examples of ways you might be transferring data to a UK-based company Are you outsourcing your HR, IT or Payroll function to a UK based organisation? Are you using a UK based marketing company to send marketing communications to your customer database? Is your occupational health provider based in […]

How to Avoid Disciplinary Disasters and Grievance Catastrophes

HOW TO AVOID DISCIPLINARY DISASTERS AND GRIEVANCE CATASTROPHES

The Institute of Chartered Accountants in Ireland recently published advice on employee employment issues. Despite employers often times having sufficient grounds for dismissal, they invariably lose unfair dismissal cases because fair procedures and the rules of natural justice were not adhered to but there are procedures you can follow do to avoid this. It’s unfortunate when an unfair dismissal case is lost because advice from experienced professionals was not obtained before the dismissal procedure was put in place or, in a worst-case scenario, before the dismissal took effect. This is most often the case when it […]

Drucker’s Pricing Sins

In his book Managing in a Time of Great Change Peter Drucker writes on the five deadly business sins – avoidable mistakes that will harm the mightiest business. The first and the most common sin is the worship of high margins and of premium pricing as it always creates a market for competitors. And high profit margins do not equal maximum profits. Total profit is profit margin multiplied by turnover. Maximum profit is thus obtained by the profit margin that yields the largest total profit flow and that is usually the profit margin that produces optimum […]

7 ESSENTIAL BUSINESS STRATEGIES

To succeed in business, you need to decide on what strategies to implement depending on circumstances. Decide on which of the following strategies you are going to implement immediately. Be customer orientated Put your customer first and ensure that your service performance is second to none. Never lower your standards. Touch base regularly with your key customers and listen to their suggestions on how you can improve your service.   Focus on planning Prepare a written formal strategic plan where you document what your current position is and where you personally want to be in 5 […]

6 EASY WAYS TO DIGITALLY PROTECT YOURSELF – THE UPDATE PROTOCOL

Marc Goodman has worked with the FBI and Interpol and in his New York Times bestseller “Future Crimes” outlines that everything is connected, everyone is vulnerable and what we can do about it. He advocates the UPDATE Protocol which provides practical everyday tips to protect yourself and your business from today’s most common technological dangers. By following this protocol (the digital equivalent of locking your front door and not leaving the car keys in the ignition) you can avoid more than 85% of the digital threats that pervade our lives daily.   Update Update frequently as modern […]

CYBER INSURANCE AND GDPR

Cyber Insurance and GDPR Ireland

How will Cyber Insurance respond to GDPR-related incidents? A policy should cover you for a wide variety of data-breach related covers, including: Crisis response to gain initial advice from experts IT forensics to discover the source of a breach and stop it at source The cost of establishing who has been affected, and to what extent The cost of notifying those affected – Credit and/or identity theft monitoring, if required Setting up a call centre for those affected Attend hearing such as with the Data Protection Commissioner Fines and penalties, once they are insurable – see […]

Shareholders Agreement

A shareholders agreement may be loosely defined as an agreement (contract) between some or all of the shareholders in a company and sometimes the company itself, which is intended to govern the rights and obligations of the parties thereto. Frequently, shareholders agreements will also deal with the management of the company. When setting up a new company the provisions of a shareholders agreement should be agreed between the shareholders before the business commences. The advantages of using a shareholders agreement are: It ensures secrecy for those provisions which could be publicly sensitive. Often shareholders agreements include […]

20 Great Actionable Time Saving Ideas

Andy Bounds, author of The Jelly Effect: How to Make Your Communications Stick, recently passed me on some great time saving ideas. As he says the most common grumble in business: “I don’t have time.” So he has twenty ways to change how you communicate, to free-up loads of time. All are easy. All will save you time. But which will you do? Don’t have 30- or 60-minute meetings.  Instead, make them a maximum of 20 or 45. Even shorter, whenever possible Review last week’s diary, and identify all the things that took longer than they […]

Just a Coin Flip!

Decisions!  Decisions!  Decisions! We face every single day an overwhelming number of decisions that burden us. We delay to avoid making poor decisions.  We suffer from paralysis by analysis. But there is a quick way to make decisions. Simply flip a coin. Making decisions involves a trade-off between speed and accuracy . We are concerned about speed so we want to spend less time on making a decision. We are also concerned about accuracy so we want to spend more time on making a decision. For minor decisions do you really care about accuracy?  Do you […]