Two of my kids run micro enterprises (with less than 10 employees per company). They maintain a lean but mean workforce, focus on their core business, and outsource some key activities like toll manufacturing. This strategy keeps them competitive with large companies — together with the strategy of growing and maintaining highly performing employees.
I personally know many of these employees, whom my kids treat like close family members. The key people helping my kids run the business are homegrown. My kids took my earlier advice: “If you cannot hire the very best, hire the young with great potential and grow them.”
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