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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: media
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 … Continue reading
One Response to The New Information Direction: Push Over Pull
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Extreme Democracy
Last week the British government announced that it was naming their new scientific research ship the RSS Sir David Attenborough, acting counter to the people’s selection of “Boaty McBoatface,” despite that name being an overwhelming 3:1 favorite over the next closest choice. … Continue reading
4 Responses to Extreme Democracy
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Great post. Furthering this conversation, I highly recommended Dan Kennedys book: No B.S. Ruthless Management of People & Profits…..a word of warning you will need some thick skin, some honest self evaluation, and Clarity to really appreciate the valuable lessons taught in this book.
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Here, here! (with respect to our British forebearers).
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Well said. True freedom comes when we are obedient and submit to something greater than ourselves. Human are funny animal in search of transcendental joy yet they typically look for it in “things” and fleeting pleasures.
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Very well said. Not all are qualified to lead and thus should be grateful to those that are!
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Small Businesses Fantasies: Service
As an evangelist for small business, I am the consumer equivalent of the locally-grown food movement. I spend as much of my discretionary income as possible with the owned-and-operated businesses in my area. As a consultant and coach to owners, I also … Continue reading
3 Responses to Small Businesses Fantasies: Service
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Even if you work on it every day, if you do not do it well the effort is still wasted.
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people have stopped investing in training and expect their employees to intuitively “know” these things. not possible. Really caring is just not that common.
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Service is a nebulous term. It has a different definition whether it comes from the provider or the customer. What supersedes service is the experience from the customer’s standpoint. Today’s independent business owner has a great opportunity to differentiate itself from its competitors. Unfortunately, many do not know how to do this.
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Will Small Business Win in the End?
A few weeks ago Schumpeter, the nom de plume for each current author of the business op-ed column in The Economist, postulated the decline and fall of the Western Corporation. Could small business be the little furry mammals of the 21st … Continue reading
4 Responses to Will Small Business Win in the End?
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There is innovation which comes from smaller sized organizations. Then they get absorbed by ← larger fish in the food chain. Economic set backs create the groundwork for entrepreneurial growth – starting a business in lieu of not getting a job with bigcorp or the government. it is a cycle. the proven successful small businesses get acquired by larger companies with capital and no innovation. mom and pop video stores were acquired to make Blockbuster but even these have a life cycle and big does not always mean an enconomy of scale. red box in your grocery store lobby seems to be doing just fine as a vending machine operation.
none of us lead active business lives in the historic perspective of 100’s of years. We have to make payroll or the rent this week, satisfy the customer with good qualty at a market price which is not increasing and do all of the other things required of us by the community we operate in. Small business people are heroes but because we do such a poor job of economic education in our schools their success is viewed as a lucky lottery instead of hard work.
we will be in trouble when they start saying why bother?! -
Hi John,
I see small businesses growing and playing a bigger part in the US, and heck, around the world, in supporting economies. As more entrepreneurs get the gist that they are making a difference and with the ease of buying a domain and hosting more folks are growing prospering small businesses. Side note; I’m awake and it’s almost 2 😉
Ryan
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The longer insterest rates remaiin at zero or below zero levels, the more difficult things will be for SMBs and middle classes. Because real zero rates are just for Big corps, banks, etc. in most of the Western world. This means they can almost print money.
On the other hand, all the rest of us are deeply indepted with them (either through credits or public bonds), and we have no other resources but our working hours to pay them, competing on a global basis to sell them.
Inequality is absolutely inevitable, and it will get much much worse beacuse politicans and central banks are into this strategy of ‘asymmetrical capitalism’. -
Last night I heard on the presidential debate that they were going to do something for small business in new tax codes. They also said they were going to do something for the middle class and those at of near the poverty level. All of the money of the wealthiest people cant come close to covering the budget. Maybe the politicians have a plan to bleed the dinosaurs. But, in true financial wealth theory we need to grow companies capable of moving large sums of money into our economy. Curious! When might we start focusing on educating future voters on economics and understanding how capitalism works as a whole. Small furry mammals or cockroaches? We must remain nimble to stay out from underfoot of Big Business, Big Government and Big Labor.
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The Toughest Part of Performance Reviews
There’s been some noise in the business press of late regarding large corporations’ decisions to eliminate performance reviews. Like those who have installed unlimited PTO (Paid Time Off) and other “new” management methods, review-less organizations are deemed to be more … Continue reading
7 Responses to The Toughest Part of Performance Reviews
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Annual reviews are a horrible idea. Can imagine getting feedback 12 months later after a positive or negative event – how does it help? It only slightly recognizes what occurred. We are now moving to quarterly reviews and one day to monthly reviews. In the book The Game of Work, by Charles Coonradt, teaches an excellent method of measuring the success of the employee and how to harness that success to mutual benefit both employer and team members.
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John,
Thanks for the walk down memory lane, great reminders… As I recall, the things in life that are worth amything are often difficult and a lot of work, not fun and easy.
jk
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I fully agree with the negative feelings about performance reviews and that’s why I wrote my book “Performance Reviews; The Bad, The Ugly, … The Alternative” (Amazon).
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An employee is responsible to offer three areas to his/her employer; 1. Performance, 2. (Mutual Respect to organization, fellow employees and customers) , and the, 3. Ability to “Think” as to how they can assist and help achieve the organizations charge. That is it!
A performance review, on a quarterly “update” basis, keeps the individual attuned and allows an avenue to resolve any issues that may be getting in the way of the best performance possible.
It works.
We built a company around this in the 90’S. What we need now is for the computer to tell the recipient of the information what they should do with it. Then we will have actionable information. Very Interesting!