Businesses from startup to fully mature need both leading and lagging indicators to assess how they are doing and plot a new and revised course for the immediate and long range future. I prefer to think of KPI as either Key Performance Indicators (lagging) or Key Predictive Indicators (leading).
Please bear with me as I get a bit technical and then relate the motor in your vehicle to the motor in your business . . . It’s a well thought out and designed balance of all that is expected of the motor . . . How have you designed your business to turn speed (revenue) into useful torque/horsepower (earnings) that allow you to do something useful (valuable)?
REV Up the Motor of Your Business Read More »
Do you have the right tools and know when and how to apply them? Don’t use a hammer when a screw driver is needed. Yes, you can use a screw driver as a chisel, but it is not the best use. Your business success depends on the right tools at the right time and used properly.
The Right Tools for Success Read More »
You ARE at risk in many ways. What are the risks? What can you do about them? Consider a webinar on June 11, 2025 to hear from 4 experts on commercial insurance, contracts, negotiation, and business.
COGS are not just teeth on a wheel or gear that keep a machine running. They are your Cost of Goods Sold and are an essential part of the financial equations that determine pricing and revenue, lead to profits, and affect value.
Broken COGs in a Wheel Read More »
So, this week, and into the near future, we have new rules and the rules are going to be changing. Tariffs are in force, more are coming, negotiations are in process that can change the tariffs with little notice, regulations are being reconsidered, lawsuits are flying, funding is being pulled back, jobs are disappearing in the government sector. There is nothing fair about all that. And you really cannot change it, unless you are the leader of a large corporation that can influence government leaders directly. That’s not me, and probably not you. So, whatcha gonna do?
Before you decide to accept an investment from a private equity company, consider the alternative of improving the company yourself. Accept PE investment dollars and you very likely will need to continue working at the company for 1-5 years after you take PE money. You may be enticed to make more money with a “second bite of the apple” when the PE firm exits. That exit has grown from a typical 3 years to nearly 7 years.
Disrupt Yourself or Be Disrupted Read More »
Why is your business not doing better? How can you deal with it? What does it look like now and what could it look like with the right tools applied effectively to improve your Revenue, Earnings, and Value.
He Who Has . . . Wins 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 »
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 »
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 »
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 »
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 »
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 »
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 »
What’s the right solution for your company? Is it INSOURCE, NEARSOURCE, OUTSOURCE, RIGHTSOURCE? It’s a good time to search out new suppliers, friends, and partners. It reminds me…
All Ashore That’s Going Ashore Read More »
Don’t go it alone. Don’t try to grow it alone. You can’t and shouldn’t. . . . There’s another group you should consider talking with. That’s a group of peers that own businesses, don’t compete with…
Today’s blog is brought to you by the word, “CHARGE.” Those of us that grew up with Sesame Street or watched it as adults with our young children will recognize the opening to various segments. I was…
CHARGE Ahead. CHARGE it. Read More »
