Recent Posts

Business Perspectives

Choosing Not to Maximize Profits

The other day, a client asked me to review some questions from an MBA student studying business ownership. One of the questions was “Are you doing everything possible to maximize profits?” I’ve seen the same question asked in a number …
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What the Heck is Exit Planning?

The wave of Baby Boomer retirements is beginning. I’ve been writing and speaking about exit planning nationally for the last ten years, (you can download my free eBook on the subject here), but the inevitability of the demographics is gaining …
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Let the Business Owners Pay for It

When it comes to “No taxation without representation,” the rallying cry of our founding fathers, few identifiable population segments are as abused as business owners. One of my long-time clients is a franchisor, and until very recently I was a …
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Exit Planning

The Right Price for Your Business

“If someone offered me the right price, I’d sell in a minute!” Exit planners and business brokers hear it all the time. “Anything is for sale if the price is right!” What is the “right” price? Of course, you can …
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After the Exit: Second Acts

As part of my effort to add variety to the types of exit planning posts here, I will occasionally include “Second Act”, stories about business owners who have already left one career, and are now doing something else. The Second …
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Why GenXers Won't Buy Your Business

There are six reasons why GenXers won’t buy your business. Last week I presented a webinar for the Exit Planning Institute entitled “The Perfect Storm.” It looks at six factors impacting the desire and the ability of Generation X buyers …
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Managing Employees

Business isn't Zero Sum

In any negotiation, you can assume a win-win solution or a zero sum outcome. “Win-win” is defined as when both parties come out ahead or achieve what they seek. “Zero sum” is when the premise behind negotiation is that whatever one …
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Stop Managing

Why would anyone advise business owners to stop managing? Management is a proven science. From the time and motion studies of Frederick Winslow Taylor in the late 1800s, to Matthew Kelly and Patrick Lencione’s Dream Manager, we are constantly in …
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Branch Mentality and Sanctuary Cities

Every multi-unit company suffers from branch mentality. I’ve worked with many, and no matter how much they promote a corporate culture and team spirit, branch mentality creeps in sometimes. It comes in two versions; the outposts’ attitude and the headquarter’s …
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Marketing and Sales

Good Customers Can Be Bad

When can good customers be bad? What could be wrong with a customer who buys a lot, pays promptly, and never has a service problem? They might be buying too much. No matter how strong or comfortable a sales relationship is, …
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The New Information Direction: Push Over Pull

Ever since we started using computers in virtually every business, we’ve been putting data into them. Unfortunately, the issue has been getting information back out. In the middle 1980’s I ran a manufacturing company together with a couple of Australians. They thought …
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Help Your Friends, Not Your Competitors'

I hear it all too often. “A customer just called us for a quote. They have always done business with our competitor. We’re going to give them our best deal, and see if we can take their business.” Before you …
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