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Monthly Archives: May 2014
They Who Giveth Can Taketh Away
Many business owners I know are troubled by the NBA’s insistence that Donald Sterling must sell the Los Angeles Clippers, and can do it only in a manner and to whom the league approves. Mr. Sterling has personally been banned from … Continue reading
Posted in Entrepreneurship
Tagged business ownership, business planning, business strategy, small business advice
4 Comments
4 Responses to They Who Giveth Can Taketh Away
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Where Will All the Small Businesses Go?
What would the small business landscape look like if over one million small businesses disappeared? Get ready, it’s about to happen. I write and speak frequently about the passing of the entrepreneurial generation. Driven by competitive pressures to succeed, the … Continue reading
One Response to Where Will All the Small Businesses Go?
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Hi
Congratulations on your award. I ran across your book and your IBPA award in the newsletter I am one of the relatively few lawyers around with a foot in the publishing and food and ag entreprneurship camps. I blog at http://schellacres.typepad.com/ and your book would be a natural to review if you are interested in having a review on the blog. Best Success with your book, I think it’s a crucial insight about temperament–can’t make cows hunt, can’t make lions graze (happily).
Best
Rich Schell
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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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When an Employee Can’t Grow With You
Every business is an organism. It is either growing or dying. I’ve met a few owners who said “I want everything (sales, staff, profits) to stay exactly as it is,” but none who were actually able to pull that off. As we … Continue reading
The comments about diversifying from one major contract only becomes a necessicity when the contract is up for renewal. I am guilty of falling into a false sense of security and have been financially setback by a large contract changing.
Professional sports teams are essentially a franchise. If the owner of a McDonald’s or TCBY store violated rules in a way that publicly harmed the overall brand, would their removal still be considered “troubling”?
That said, the main point about avoiding too much concentration is on target. In fact, it does not just apply to a single customer or contract. Being in too narrow a market or niche of a particular industry can result in similar risks.
Small business owners have to do what they know and are good at. It is a balancing act for that fact to not leave the business vulnerable to a single contract or market shift. Do not forget to keep looking around as you move forward.
David Basri
Point Enterprises, Inc.
https://www.pointent.com
Point well taken, David. I think what bothers the folks that I’ve talked to is not the ban, or the forced divestiture. It’s the widening (and fungible) scope of ruling what an owner can or can’t do to dispose of his property. Make no mistake, as a rabid NBA fan, I couldn’t be happier to see Sterling gone.
John – thanks for the great discussion on customer concentration and on franchise challenges. Essentially, he was a franchisee of a very valuable franchise and the franchisor decided he broke the rules of the arrangement. Many baby boomer franchisees are looking to exit and need to understand that who they sell to and many of the other deal issues could be impacted by their franchise agreement. They need to understand any limitations, so they can be prepared when they’re ready to exit.