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As a business owner, you know what it’s like to lie awake at 2 a.m. Maybe it has happened when you are excited and full of new ideas for your business. More often, it’s because you are worried about issues you will face the next day. Sometimes, it’s because you just woke up with the solution to a problem. I’ve experienced all those emotions about my businesses over the years. Awake at 2 o’clock? is where I share them with you, and hopefully help with answers that will let you sleep.
John F. Dini, CExP, CEPA
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Small business owners are the Hunters of the 21st century. We are 3% of the US population, and yet we create over half of all American jobs. As Hunters, we may not be inclined to manage by the numbers or stick to systems. Are you a Hunter or a Farmer?
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How prepared are you to exit your company?
The Assessment breaks down the four major categories of exit readiness; Finance, Planning, Operations and Revenue/Profit.
Tag Archives: management
Tell Me What I Want to Hear
Those of us who are Hunters tend to be in a hurry. Hunters are linear; we move from objective to objective in as close to a straight line (allowing for our ADD “squirrels”) as we can. The completion of any … Continue reading
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Business Owners are Glubricants
Utility Infielder, Jack-of-All-Trades, Mr. Fixit, Chief Cook and Bottle Washer, Know-It-All, Do-It-All, Swiss Army Knife, Center of the Universe. There are many ways to describe the myriad business roles filled by the owner of a small business. Here’s another. The … Continue reading
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You Make Two Types of Decisions
The principle function of leadership is making decisions. Whether you own a business or direct the work of others, your employees come to you with issues they can’t solve themselves. There are two types of decisions. One is easy; you just know something that … Continue reading
One Response to You Make Two Types of Decisions
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I would like to use “You Make Two Types of Decisions” on my facebook page, BizProfit.
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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 … Continue reading
One Response to You Only have Two Hands…or not.
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John,
Great post!
I love the simple math of the leverage you are illustrating. It should get the attention of owners who look at expenses not revenue (and usually liabilities not assets!).
I would suggest a post on how many forms of leverage you can generate as an owner. If your assistant frees you up for a 1-hour lunch that generates $16,000 in revenue, wouldn’t that be a 400X multiplier? (16000/400 (you)x400/40)(her). The $40 you spent for him/her resulted in a $16,000 yield. Or, the time leverage multiple that allowed you to write a book that produces residual income for years?
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The Disconnect Between Skills and Jobs
A Gallup/Lumina Foundation Poll released a few weeks ago is getting attention in the business community. In a survey of 623 business leaders, most said that higher education was important, but where an employee earned a degree, and what the degree … Continue reading
3 Responses to The Disconnect Between Skills and Jobs
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I am also aware that a very large nimber of successful companies are started by people that have no particular education but have a belief in themselves and their abilities and go ahead in the wider marketplace in spite of ” no education” . In fact in my experience I have seen may qualified people totally able to think productively for themselves. I have also seen many untrained and uneducated personal really achive if given the right support and oportunity. I therefor do not believe there is a hard and fast rule but a need to really have a very good look at what is wanted and expected and chose the right cloth for the right suit and not just stick to one size fits all.
Further to this is that I think that the young are sold the idea that a education is going to give them the right to a job of their wish and a good education will gaurentee a salary to suit. However there are not enough positions available any longer as the world become increasingly more crowded with quailfied graduates , less jobs and more automation.
Given this situation the responsibilty of choosing the right person it is becoming more clouded. -
It sure would be a step in the right direction, if the Public Colleges would direct our tax payers $$ into degrees programs for which there are jobs, and reduce the $$ in degrees programs for which there are few jobs. Just like a business they should try to created an inventory of graduates that can be sold, make a good living, pay taxes, and donate back to their college. If someone wants to study in field in which their are few jobs, let then go to a private college. We do not need to be using our tax $$$ educating citizens into a field which there are no jobs.
From a definite hunter, I would agree that farmers prefer cycles and prefer predictability. However, I would also argue that farmers, at least real ones, are some of the best there are at dealing with variables and unpredictability. They know what the optimum cycle should be, and they know that the weather is unlikely to cooperate, the price of fuel is volatile, and they have to plant today to get commodities prices they do not control six months later. Throw a wrench into the engine and most real farmers will figure out a way to fix the fan blade to finish the plowing.
Hunters might adapt by choosing a different goal or strategy. Farmers adapt by fixing the specific issue to get the cycle back on track.
The difference in communication style is real. Metaphors only go so far.
David Basri
http://www.pointent.com