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Welcome to Next Step Solutions E-Newsletter

Dear Margaret,
June greetings from Next Step Solutions, Inc.! We are enjoying the sunshine and slightly warmer temperatures as we reach the summer months. Business remains fairly sunny, too, although the stock market seems a little flustered as I write this.

Economic news continues to be good, however, and we should remain encouraged. At the end of April, the Wall Street Journal Online Alert reported that the U.S. economy "roared out of a soft patch on its fastest run in nearly three years, powered by consumer and business spending." According to the item, our gross domestic product increased at a 4.8% annual rate during the first quarter of 2006. The rate was well above the 1.7% rate in the fourth quarter of 2005.

So, with this good news in mind, we continue to focus on growth, specifically on the effect of adding more employees to your staff. The new staff helps handle additional work, but will also create some new requirements. We look at a couple of them below.


Adding Staff? Some things to think about......
by Margaret Purvine
In our last newsletter, we addressed the issue of finding and hiring good employees in a competitive market. Let’s assume you have added those great new employees to your staff. You now have more employees than ever before. What are some things you want to think about?

First, look at your management structure. Younger, smaller companies with a small staff typically have one manager. Everyone reports to the CEO/owner. As your company grows and the staff expands, having all employees managed by one individual, no matter how good a people manager, becomes unwieldy very quickly. If your growth plans call for an expanding staff, start thinking about adding another layer of managers or supervisors. You can hire managers or offer lead employees the chance for development and promotion. If you go that route, don’t forget to consider training. Good management doesn’t just happen!

Second, look at your employment processes and paperwork. If you don’t already have one, it’s time to develop an Employee Policy Manual. There are several ways to tackle this particular task. You could draft the entire document yourself, but this might not be the wisest use of your time. You can use one of the many programs and templates available as a starting point and edit the document to fit your company. You can also go to outside professionals for assistance, such as your business advisor/consultant or your attorney. They can develop the manual with your input. Whatever method you choose, run the final copy past your attorney to make sure it covers you adequately.

Establishing and documenting information about company policies, employee benefits, and what you expect of your employees addresses two important goals. First, it protects you and your company legally. Second, it provides your employees with clear direction, something they will appreciate.

Upcoming Events
Lunch & Learn Seminars - June 20 and 22
Our May seminars on the Purpose Driven Business were very well received. We are offering them again this month, so if you missed them in May, consider joining Next Step Solutions, Inc. and our partners from Waddell & Reed, Inc. - Andrea Kinnaman and Alex Tulintseff - in June to learn about a structured approach to achieving your goals in your professional business as well as in your personal business - your personal finances.

Our Lunch & Learn seminar, “The Purpose Driven Business – an intentional approach to achieving greater profit and success”, will be presented June 20th in Seattle and June 22nd in Bellevue, from 11:30 AM – 2:00PM. The cost is $25 and lunch will be provided. Seats are limited, so don’t delay! For more information or to register, call 425.918.1910, email info@nextstepsolutions.com, or visit our web site.

Free Resources from Next Step

Words of Wisdom
Quotes from business movers and shakers
"A goal is a dream with a deadline."

Napoleon Hill (1883 – 1970) an American author, who is widely recognized as the founder of the modern genre of personal success literature. His most famous work, Think and Grow Rich, is one of the best- selling books of all time.

 

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Next Step Solutions, Inc. | 9792 Edmonds Way, #424 | Edmonds | WA | 98020