Quantcast
Get breaking news alerts via email

Click here to manage your alerts
Small Talk: Advice for small companies: Take stock, take risks


< Previous Page


"To do nothing is to take a risk, and more often than not, it’s as great a risk as taking calculated action," says Dennis Ceru, an adjunct professor of entrepreneurship at Babson College in Wellesley, Mass.

Consumer spending and the economy can rebound quickly. Companies that can’t jump on an opportunity because they don’t have the staff or equipment may lose out to competitors.

Join the Discussion
Post a Comment

"To be caught unaware and unprepared is as bad or worse as stepping into the pool before it’s up to temperature," Ceru says.

Not moving forward because of uncertainty about the health care law is a mistake, USC’s Allen says.

"They will not get all their questions answered for some time to come. Do you stand and wait for everything to be figured out before you do anything to grow your business?" she says.

SHOW EMPLOYEES THAT YOU CARE

As the labor market improves, many people will look for new jobs. Retaining staffers is key, says Maria Martinez, owner of Respira Medical, a company that provides respiratory and other medical equipment.

Martinez, who has 60 employees, uses incentives like flexible scheduling and tuition reimbursement to reward and keep staffers. They can come in late or leave early when necessary. She gives each employee four days a year with pay to volunteer at charitable organizations.

"It could be the simplest things that could make a difference," says Martinez, whose company is based in Linthicum Heights, Md.

Martinez also believes in helping any employee who’s struggling with personal or financial issues. She arranged for dental care for a staffer who couldn’t afford it. The man never smiled because he was ashamed of his teeth, and when he got dentures, he began smiling at work for the first time. Martinez also fired a worker who belittled the man because of his teeth.


story continues below
story continues below

Owners who had to cut 401(k) contributions or other benefits because of the recession and its aftermath should start restoring them, Insperity’s Sarvadi says.

"I would consider, if not all at once, then incrementally bringing some things back," he says.



Copyright 2014 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Top Reader Comments Read All Comments Post a Comment
Click here to read all comments   Click here to post a comment


About Reader Comments


Reader comments on sltrib.com are the opinions of the writer, not The Salt Lake Tribune. We will delete comments containing obscenities, personal attacks and inappropriate or offensive remarks. Flagrant or repeat violators will be banned. If you see an objectionable comment, please alert us by clicking the arrow on the upper right side of the comment and selecting "Flag comment as inappropriate". If you've recently registered with Disqus or aren't seeing your comments immediately, you may need to verify your email address. To do so, visit disqus.com/account.
See more about comments here.
Staying Connected
Videos
Jobs
Contests and Promotions
  • Search Obituaries
  • Place an Obituary

  • Search Cars
  • Search Homes
  • Search Jobs
  • Search Marketplace
  • Search Legal Notices

  • Other Services
  • Advertise With Us
  • Subscribe to the Newspaper
  • Access your e-Edition
  • Frequently Asked Questions
  • Contact a newsroom staff member
  • Access the Trib Archives
  • Privacy Policy
  • Missing your paper? Need to place your paper on vacation hold? For this and any other subscription related needs, click here or call 801.204.6100.