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.
Return to Work Owner's Guide Return to work policies are a new COVID-related minefield for business owners to negotiate. As more states make COVID control measures less restrictive or optional, the “requirements” of a safe workplace, and what we can demand of employees, are becoming … Read More » Internal Leaders Affect the Value of Your Business Internal leaders may not be obvious and can influence your team either positively or negatively. If you fail to identify them, however, you could see a dramatic effect on the value of your company. Read More » Ebenezer Wasn't the Only Boss Each year I reprint a post from 2013 about the underappreciated boss of A Christmas Carol, Mr. Fezziwig. I hope that you enjoy it. Merry Christmas! This week was the 177th anniversary of the publication of Charles Dickens’ A Christmas … Read More » The Dismal Ds and Exit Planning The Dismal Ds are a cynical list of problems that can force your exit from the business, but they are no joke. Read More » Exit Planning When Kids Don't Cut It When passing your business to children, other stakeholders include key employees and offspring who are not involved in the company. Read More » COVID Fatigue Unites Business Owners Dealing with COVID fatigue unites business owners. If that sounds strange to you, let me make my case. I’m not doing this to whine, but I want business owners who don’t have an existing support structure to know that they … Read More » School Daze and Business Owners “School Daze” is more than an old Spike Lee movie. It’s the latest “COVID-19 gift” as one of my clients facetiously refers to ancillary issues created by the pandemic. As employers, we are watching and waiting to see what new … Read More » Selling to Employees: Exit Planning for Small Business Part 4 Selling to employees is one method of transition that is growing rapidly in popularity. Usually the driving motivation is a desire to help the people who got you this far enjoy some of the benefits of ownership, but there is … Read More » Manage Activities; Lead for Results A few weeks ago I posted a comment in the Business Journals Leadership Trust Forum about a life lesson I learned regarding the difference between effort and outcomes. They reached out and asked if I could expand my comments a … Read More » Is Google Making Us Stoopid? As an Exit Planner, most of my engagements involve assessing a management team. They may be the intended buyers of the company, or else they are key factors in the saleability of the business. The biggest and most frequent complaint … Read More » The Unplanned Exit One of the least-heralded benefits of exit planning is preparation for an unplanned exit. In the brokerage business, the reasons driving the listing of a company are known collectively as the Dismal D’s. Some of “Da D’s” are just typical … Read More » What's Wrong with the Buyer Generations? Many of the upcoming buyer generations can’t or won’t run Baby Boomer businesses. This is (or should be) of concern to sellers everywhere. “The children now love luxury; they have bad manners, contempt for authority; they show disrespect for elders and love … Read More » Employee Retention Before and After Your Exit In most businesses, employee retention is a material factor in valuation and transferability. The ability of a buyer to assume control of a fully-functional organization has substantial influence on his or her perception of a company’s value. Any need to pay the … Read More » Celebrating Mr. Fezziwig To celebrate the holiday, I’m reprinting a post from 2013 about the underappreciated boss of A Christmas Carol, Mr. Fezziwig. I hope that you enjoy it. Merry Christmas! Last week was the 170th anniversary of the publication of Charles Dickens’ … Read More » Internal Transfers: Legacy vs. Lucre Lifestyle vs. Legacy Why would I refer to the results of an internal transfer as “lifestyle vs. lucre?” Lucre is a pejorative term. While it is technically just a synonym for money, most dictionaries draw the parallel to its use in … Read More » |