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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: sales
Maximize Resources – Use What You Have
Every owner wants to maximize resources. The whole concept of profitability is based on doing the most with the least, but we often are trapped in the prevailing thought pattern about how things “should” be done. When taking a car … Continue reading
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Good Customers Can Be Bad
When can good customers be bad? What could be wrong with a customer who buys a lot, pays promptly, and never has a service problem? They might be buying too much. No matter how strong or comfortable a sales relationship is, … Continue reading
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Employee Experience: Is Bigger Better?
Small businesses provide much of the initial employee experience. We take younger folks and teach them decent work habits like showing up every day, being on time, and working to deadlines. As owners, our personal skills may not be sufficient. We … Continue reading
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Choosing Not to Maximize Profits
The other day, a client asked me to review some questions from an MBA student studying business ownership. One of the questions was “Are you doing everything possible to maximize profits?” I’ve seen the same question asked in a number … Continue reading
3 Responses to Choosing Not to Maximize Profits
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John,
I agree with your premise, what the question should be is “Are you maximizing value?”
The very choices made by business owners include many of the above that lead not to short term profits but “hopefully” sustainable value.
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John,
Well said and of course there is the issue of reinvesting in the business for sustaining and growing profits, but over the long haul.
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I think that a good question is: Are you happy with your business?
Then ask: What in your business would make you happier?
Then, decide if you want to do it.
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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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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!
exactly i was thinking a day ago when i faced this problem