In my practice, one of the things that I often deal with is change . . . or sometimes lack thereof. I see companies at both ends of the spectrum when it comes to change. Some are in a constant …
For small companies, emulating the practices of “the big guys” usually has value. There is a reason why the big guys have been successful and gotten big. But they should only be emulated to a point. They have resources that …
Last month, I wrote “Is Ignorance Bliss?” which was about the effect that a lack of perspective on a company’s financial situation has on an organization. One of the side effects of this is silos within an organization. While the …
There is an old saying, “Ignorance is Bliss?” But is it really? I often see key managers in organizations operating with little or no knowledge of the company’s financial situation. While this may allow them to go about their duties …
Are you busy or bored at work? It’s a question worth asking and the answer can probably give you insights into your company’s financial position even if you’ve never seen an income statement or balance sheet. If you’re busy (and …
There is a question that often gets asked, particularly of small business owners. That is: Are you working “on” the business or working “in” the business? While the distinction may sound small, it is critically important. Too many small business …
Some time ago, I worked with a formula called the sustainable growth rate model. Generally, it takes a company’s profit margins, the amount it wishes to retain for growth (as opposed to pay out as compensation to management or dividends …
How do you differentiate your product or service? Even better, how do your customers perceive the differentiation between you and your competitors? These are important questions. And you should answer the first before you attempt to answer the second. It …
If you don’t set the agenda, one will be set for you. Guaranteed. Even if you do take the initiative and set an agenda, there is some chance that the boss will overrule you on some or even all of …
I am all for action. Frankly, my bias is toward digging in and starting work rather than developing a detailed action plan of what needs to be done. That being said, in solving any problem you need a general direction …
