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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: recession
Atlas Shrugged and the Imperial Presidency
“Atlas Shrugged – Part II” was released on Friday. Those of you who read this column regularly know that I’m a fan of Ayn Rand, although I place myself far short of devout Objectivism. I’ve sported “Who is John Galt?” license plate … Continue reading
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Employee Motivation: The Effect of the Economy
In 1979, President Jimmy Carter delivered his “Crisis of Confidence” speech, commonly referred to as his “Malaise Speech” although he never actually used that word. To a country reeling from stagflation and an oil crisis, it was an additional blow to … Continue reading
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Employees aren’t Partners
Many of my clients are recovering from the recession. They are running lean, and have restored their profitability, even if at lower revenues than prior to 2008. Those that had to reduce or freeze employee compensation are seeking ways to … Continue reading
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This is an excellent article and I completely agree with the concept that only Exectuive Mgmt should profit share. Incentive based pay for the employees is a good practice, but needs to have flexibility to ebb and flow with the needs of the business being met first and foremost.
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John, I disagree. I used profit sharing with my employees for 15 years. Each employee in my company contributed to the profits of the company. We were a maufacturing company and everyone contributed, not just the managers. We did set up a system whereby each employee’s share of the profit was based on compensation, years of service, and a performance factor. We met monthly with all employees and reviewed our financials with them. They knew where they could help by controlling expenses and where they could cut costs. they knew the cost of the materials that they were using in the process and could increase the yield and productivity of the operation. When the company was sold the employees were given over $500,000 to be dived up according to the previous criteria. After 25 years they are still there.
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That sounds lile a great system, Larry. I note you said “performance” was a key criteria. I have absolutely no problem with using company profitability as a funding scale for incentive programs. My piece criticised companies that distribute profits as an entitlement, without defining what individuals need to do to earn their share.
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Fighting on Level Ground
Poland has been conquered numerous times in history. Since the 11th century, it has been partially occupied, partitioned, or fully subjugated by the Germans, Russians, Austrians, Mongols, Tartar Muslims, French (under Napoleon), Prussians and Hungarians. The Poles aren’t a timid people, … Continue reading
One Response to Fighting on Level Ground
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A terrific conclusion to an informative and important series, John. The case for business planning has never been laid out as clearly or cogently as you have. Bravo.
Government is a business, albeit a monopoly on certain items like defense but it too has all the charateristics of an operating business. No surprise if it should also devour competition to be the sole provider.