Management is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively. Management functions include: planning, organizing, staffing, leading or directing, and controlling an organization or effort for the purpose of accomplishing a goal.
Celebrating Mr. Fezziwig Since 2013 I’ve updated this piece about the underappreciated and forgotten boss of A Christmas Carol, Mr. Fezziwig. I hope that you enjoy it. Merry Christmas! Last week was the 180th anniversary of the publication of Charles Dickens’s A Christmas … Read More » Stakeholders in Exit Planning When preparing for the transfer of a business, there are many stakeholders who can impact your plan. Some have direct authority or decision-making capability over the transaction, but others may have substantial influence. In general, it’s best to presume that … Read More » Delegation and Depth - Company Readiness for Exit Delegation and depth are critical when presenting your business as a buying opportunity. For many business owners, exit planning means getting the company ready for sale to a third party. There are a number of approaches to enhancing preparedness for … Read More » The Role of a Coach in Exit Planning Defining the role of a coach on your exit planning team doesn’t just happen. Like any other aspect of working with consultants, you need to set expectations upfront. Many advisors like to characterize themselves as the “quarterback” of a transition … Read More » Impressions of Value in Exit Planning Business owners, advisors, and buyers frequently have widely different impressions of value when it comes to a business. The Pepperdine Private Capital Markets Survey canvasses intermediaries who sell privately held Main Street and mid-market companies. One question is about the … Read More » "Work From Anywhere" Comes Full Circle Work from anywhere was initially a boon for many employees. Now employers are catching up. Read More » Contingency and Continuity Planning When business consultants talk about preparing for unforeseen problems, they frequently commingle the terms contingency and continuity. The terms are not synonymous, and there are important differences between them. Contingency Planning Contingency planning is generally accepted to mean how a … Read More » An Employee Retention Culture Do you have an employee retention culture? Finding and keeping employees is exceptionally tough at present. Some are working remotely and being poached by employers in another state, others are listening to the pundits saying that employment is a seller’s … Read More » Do you Suffer from Decision Addiction? Do you suffer from decision addiction? The typical business owner lives on dopamine. According to WebMD: Dopamine is a type of neurotransmitter. Your body makes it, and your nervous system uses it to send messages between nerve cells. That’s why … Read More » Supply Chains and Labor Shortages Supply chains and labor shortages are the chief topics among the 40 or so business owners I currently work with. Their anecdotes are widespread and widely varied. I wanted to know why, so I did some research on behalf of … Read More » Manager or Leader? Planning Succession Should you hire a manager or leader as part of your succession planning? Before you make that decision, you need a pretty good idea of what your exit plan is. Once your objective is set, it’s one of the answers … Read More » Non-Qualified Plans in Exit Planning When I talk to business owners about “non-qualified plans,” their first reaction is often “Hold on there. I don’t want to get in trouble!” The term “Non-qualified” merely refers to the Employee Retirement Income Security Act of 1974, more commonly … Read More » The Missing Employees Are you missing employees? Where did they go? I just got off the phone with a restaurant owner who temporarily closed one of his locations so that he could redistribute the staff to the other three. I’ve also heard or … Read More » Are Remote Employees Value Killers? Remote employees can have a dramatic impact on the value of your business. If your exit strategy is to sell to a third party, take some time to think about the areas where offsite workers could have an impact. Curb … Read More » The Downside of Remote Work I came in this morning planning to write about the downside of remote work. It isn’t for everyone. In fact, it creates new long-term problems for businesses and will continue to do so. (For a related topic, see my previous … Read More » |