Strategy and Planning

You Only have Two Hands...or not.

To paraphrase an old New Yorker cartoon  “I love being self employed. You can set your own hours, as long as you don’t mind working 24 each day.” Many owners find themselves “too busy” running a company to concentrate on the longer term …
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You are Never too Busy to Make Money

Last week I was having lunch with a client who owns a substantial construction firm. His phone pinged during our conversation. He apologized for looking at it, but he was waiting to hear on a couple of large bids. “Dammit!” he …
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The Migration from Service to Knowledge

As I have pointed out frequently in this space, the Baby Boomers’ entry into entrepreneurial business moved the core of the American economy from products to services. (see www.theboomerbust.com) Multiple dynamics created the shift. Boomers were degreed at four times the …
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Who's Picking Up the Tab?

When a small business is sold, the total price of the business includes not only the cash paid, but any obligations assumed by the buyer on behalf of the seller. Transfer of a loan balance, accrued vacation pay for employees or …
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What Price Sochi?

In business, there is a danger that a big new project, landing a giant customer, or an unexpected personal event will draw your attention away from the job of running your business. When an owner is the driving force behind day to …
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Measurement Isn't Necessarily Management

“You manage what you measure” is axiomatic in business ownership. “Employees respect what you inspect.” Understanding performance and productivity by comparing it against past performance, industry norms or internal benchmarks is useful, but measuring something doesn’t mean that you are …
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Employee Retention: From Thirty Years to Two

The United States has never been known for permanent employment. The flexibility of our job market, the ability of employers to hire the employees need and fire those they don’t, has always been considered by economists to be a core attribute …
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2014 Outlook: Are We There Yet?

“The only thing we have to fear is fear itself.” Franklin Roosevelt’s inaugural address on March 4, 1933 was an early recognition of the power of consumer confidence in bolstering our economy. In 1933 The US GDP was falling to about …
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The Only Number that Counts

The retirement of a generation of entrepreneurs (see www.theboomerbust.com) is an event unique in our history, or in anyone’s history for that matter. What we are about to experience is inevitable, and those who are unprepared are in for a …
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Should a Small Business Have a Budget?

“I know that my company is doing OK,” the old joke goes. “I still have checks in my checkbook.” Many small businesses run on a version of checkbook accounting, where anything that isn’t paid out at the end of the …
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