The state that works has keys | Other notices

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Without a doubt, our state has enjoyed great success over the years.

There are currently half a million businesses operating in Minnesota and approximately 300,000 of these employ owner / operator only.

Some 94% of Minnesota businesses have fewer than 50 employees.

This is not to ignore large employers. With 18 public Fortune 500 companies, Minnesota ranks ninth nationally.

Even more impressively, the Twin Cities rank first among the 30 largest metropolitan areas in the country and our state ranks third among Fortune 500 companies per million people.

Additionally, Minnesota ranks 11th among states and is home to six of Forbes’ largest private companies, including Cargill, which is ranked number one in the country with annual revenue of $ 134.4 billion. The state is also ninth for the number of private businesses per million inhabitants.

All businesses, of course, want to be successful for the benefit of their communities, their employees, and their owners.

Among successful businesses, there are some common qualities worth mentioning as the COVID-19 pandemic continues to economically challenge employers, employees and the public to come back to full force.

A business plan is not the only building block for success, but it certainly helps when it is thoughtfully crafted and understood by internal and external audiences. Executing the plan is 90% of the challenge. The mantra “plan your work and work your plan” has long been accepted practice by businesses, organizations and governments at all levels.

A positive attitude, accountability for results and high quality customer service will allow companies to retain current workers and attract future ones.

Another key to prosperity is finding the right people to trust to make decisions. Big companies hire such talent and smaller ones create ways in which unpaid advisors and outside board members effectively deliver their views with confidence.

Business leaders often have to take calculated risks with clear results in mind. As our nation and the world have learned, this is necessary as economic climates have changed dramatically over the past two years.

Responding effectively to the challenges America faces – the Great Depression of the 1930s, various world wars, and the current pandemic – can be successful over time.

Finally, work-life balance is a goal for many caring employers, allowing workers to have enough unscheduled “free time” in their personal lives. For example, Psychology Today magazine interviewed scientists who had discovered that a creative personal hobby can lead to worker excellence; Nobel laureates almost always reveal that they had such outside interests.

Former Yahoo CEO of five years, Marissa Mayer, wrote for Bloomberg about employee burnout, said it was necessary to understand worker resentment “and you beat it by knowing what you are doing. give up and it makes you resentful… I tell people to find your rhythm. Mayer, originally from Wisconsin, left Yahoo to start his own business in 2017.

Well-functioning team workplaces are possible when they are intentional about it. Indeed, Minnesota continues to face serious challenges. However, we would not bet against the functioning state.

Chuck Slocum, [email protected], is President of The Williston Group, a management consulting firm. He sits on the editorial board of APG of East Central Minnesota.


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