To accept good advice is but to increase one's own ability. ~Johann Wolfgang von Goethe To profit from good advice requires more wisdom than to give it. ~ Wilson Mizner A client of mine recently told me that his long-term accountant was someone he only saw once a year to review taxes. The CPA never really showed [...]
We recently discussed ways in which your organization could tap into its creative resources. I mentioned a few resources and strategic plans that could be put into action to achieve the creative results that any Fortune 500 company would be proud to obtain. Today, we're going to talk a little more about getting creativity from your [...]
Our days are numbered. One of the primary goals in our lives should be to prepare for our last day. ~ Billy Graham What makes greatness is starting something that lives after you. ~ Leonard Bernstein The Reverend Graham’s quotation no doubt refers to larger issues than business management. However, baby boomer business owners would be wise [...]
Companies say they value creativity, and if your company is like most, you're probably among them. The question is, are you really doing everything you can to unlock the creativity within your organization? Are you doing everything possible to ensure that the creativity that your company needs is being accessed and used to its fullest? [...]
As one of the 22 million business owners in the United States, you are likely over 50 years old. According to a 2005 PriceWaterhouseCoopers survey of companies in the $5 million to $150 million of value range, there's a two in three chance that you plan to leave your company in the next 10 years. [...]
1. Focus on increasing cash flow 2. Develop operating systems that improve sustainability of cash flows 3. Improve facility appearance 4. Pay down debt 5. Document sustainability or earnings 6. Implement a strategy to grow the company 7. Build a strong management team and groom a successor
According to a recent study by the Ken Blanchard companies, the costs associated with ineffective leadership run approximately 7% of gross revenues per year. Think about it; if the company has revenues of $3 million per year but they are not being lead and managed well they are losing approximately $210,000 per year of gross [...]
During a recent monthly business review meeting with an executive team of a privately held company we were working through a number of important issues, one of which was succession planning for the firm, a topic people had been deferring for sometime, thinking it was important but not urgent. One of the partners looked around the [...]
A client of ours had done a great job of building a succession ladder for his small company. He got the idea that there would be no successess without succession. All key positions were covered in case of a death or disability, and an emergency action plan was in place. Long-term development plans were also [...]
In my work with Jim Horan, founder and chief architect of The One Page Business Plan (tm), I have become enamored with his question, "Who does the best thinking in your organization?" This question not only makes leaders think, but often act very differently. Good leaders recognize that if they are the best thinkers then [...]