Like it or not, change is constant. Change is a risk of disruption in your business. Supply chains are particularly susceptible to disruptions that add time and cost to manufacturing and transportation businessses. A new report on shipping containers is interesting.
Constant Change—Constant Risk of Disruption Read More »
Advertising must be among the most common business models and methods of marketing. I am constantly bombarded by advertisements. . . . don’t hate advertising, but I’m not a big fan. It is everywhere. . . . it is often recommended to use the AIDA approach.
Advertising Reigns Supreme Read More »
Do you know the story of the rocks, pebbles, and sand in a glass? How about half full or half empty or something else? Oxygen for the body can be likened to cash for a business. Both need to be available and flowing.
While at Daimler Truck North America, I had a group that spent in excess of $10 million a year (back then). I was not a profit center. I was an expense center. Yearly I had to put together a zero-based budget. Monthly I had to review my results and annotate for the CFO group any
Think Like a Banker Read More »
Many people are looking to buy or exit from a business with revenue from $2 million to $20 million. These are at the lower end of the middle market. I have seen it done very simply between a benevolent owner and an employee, as well as more formally when selling a 50-year business to those building a portfolio of business investments. At this size, it is still important to understand 7 key documents and processes. Unfortunately, too few companies are able to run this hurdle race and exit successfully.
7 Essential Documents When Buying or Selling a Business Read More »
Why wait till next year? I hope that this year has been good for you, your family, your career, your business. So much to do and so little time left. But, there is time to make the year end well, to spend time with family, and to prepare for an even better year in 2025.
No matter how you voted, we can all agree that something has changed and more change is coming. Are you ready? It is time to dust off your strategy for the next 5 years and make your own changes. If not, you will not achieve your growth goals, exit on your terms, and may end up closing your doors as is happening with so many restaurants, retailers, and other businesses.
“Times Are A Changin’” — Is Your Business Keeping Up? Read More »
Communications is vital to anyone leading a business or even a part of a business. You would be hard pressed to over communicate. Here are seven reasons with explanations following.
7 Reasons for CEO to Communicate Effectively Read More »
The GAMEs are over! At least The Games of the XXXIII (33rd) Olympiad are over. But your GAME never ends. The race to the finish for the year is now on and in full swing. You likely closed the books on the first 7 months of the year and you now have choices for the remainder of the race. . . . The choice is yours. What is your GAME plan?
The GAME is UP. Or is it? Read More »
It’s likely human nature for people to lie to themselves and to others. Have you ever caught a child doing something wrong, confronted them, and their immediate response is something like, “I didn’t do it!”?
Don’t Lie to Yourself! Read More »
There are three ways to improve your business. Increase revenue, decrease costs, and/or make it easier to run. Of the three, it is impossible to avoid increasing revenue. I’ve often said, “growth is an imperative.” With inflation, it is also impossible to avoid increasing prices. Improving the business and decreasing costs can only take you so far, even when the sales of units are increasing. So, let’s briefly discuss 7 ways of pricing your products and services.
The Iditaod sled race is coming up. There are some important items to consider for business when comparing to how a leader chooses and trains the team.
Do people leave their boss or their BOSS? What? Your people leave because they don’t get along with someone or with the company itself. Your values, culture, and WHY you exist matter more and more to all stakeholders. The people leaving could be employees, contractors, consultants, suppliers, customers, investors, or customers.
What’s Your BOSS Like? Read More »
PAT yourself on your back if you are already working with a peer group in your industry. As business owners and leaders you constantly face a never ending and ever changing set of Challenges, Opportunities, Problems and Ideas (COPIs). Having a strong support network, a TEAM (Together Everyone Achieves More) of similar leaders, can make a significant difference in your success.
7 Reasons to Participate in a Peer Advisory Team Read More »
You can’t become a better runner or swimmer without taking the time to practice and confer with others. So, what are you going to do to free up more time for yourself since you cannot create more time? No Time, No Effort, No Growth
No Time? Time is of the Essence. There’s No Time Like the Present. Read More »
What operating systems do you deal with at work and personally. Do you know what they are? How do you update them?
What is your own WHY.os operating system? Do you need a new B.O.S.S. as in Business Operating System Strategy?
An Update Is Available for . . . Read More »
My wife and I recently finished updating our wills and trusts. It had been ten years since the last update. . . . Our lawyer and our financial planner, separately, asked about our plans for the consulting business. . . . What about YOU?
Who WILL You TRUST to Run Your Business? Read More »
1. Figure out your personal WHY.os, that of your leadership team, and for your company.
2. Join your PaC (Peer Advisory Council) to get continuing support.
3. Get Clarity on what your business looks like from the outside.
Don’t Get MAD—Get Even BETTER Read More »
A better way to make your point quickly is to simplify it and clarify at the end.
BLUF Your Way to Success Read More »
Manufacturing drives our economy and is fueld by small, privately held businesses. Leaders can benefit from Peer Advisory Councils with focus on their industry.
Peer Advisory Groups Focused on Manufacturing & Related Industries Read More »
So, what did this customer want? Did anyone ever ask what she was wanting to accomplish? Was she looking for a drill motor? Or a drill? Or a screw? Nope, she just wanted . . .
Do You Know Your Customer? Read More »
After years of building your business, often from scratch, you’ve reached a point of satisfaction with the lifestyle the business is providing. BUT. For any business, growth is an imperative. If you ever hope to transfer the wealth of your business onto your personal account of net worth, you may well have some serious business
If you’re bored, it’s time to get a board Read More »
A week has gone by since SuperBowl LVII ended. The world did not end. The world did not change because of the sports extravaganza. Some are still talking about the unique commercials—others are . . .
SuperBowl LVII Business Lessons Read More »
January is a good time to look to the future. It starts in the first week with the big CES show in Las Vegas where concept vehicles, prototypes of all sorts, and advanced ind advanced ideas for technology are…
Peer Into The Future Read More »
Who likes meetings? I’d guess a majority of people don’t. That’s likely due to them being so poorly run and called for the wrong reasons. Yet, leadership REQUIRES meetings. Leaders get things done by…
Leadership REQUIRES Meetings Read More »
Ever had to wait for someone? But then, the reason for the wait turned out to be some preparatory activity the other person did that ends up making things more convenient or saving the day? If so, you…
Let’s be clear. Marketing & Sales Ain’t Easy! Over the years I’ve come to appreciate that we are all in sales of some sort. I would not be married for 45 years and counting if I did not…
Marketing & Sales Explained (by an Engineer) Read More »
Supply Chain Pendulum Swings—You may have heard the phrase, “Those who fail to study history are doomed to repeat it.” Another one is “Everything old is new again”
Tick-Tock not TikTok Read More »
No matter what size your business, you need a team of people to help you. If you are a public corporation, you’ve got a fiduciary board, a strong management team, lots of people inside the…
That leaves us with Succession Planning. Normally that implies having someone to succeed you in business. In the corporate world, you won’t be able to be promoted unless you develop someone to…
Success Planning Beats All Read More »
