How much value do you add? That’s the key question I ask each day when I am out in the world of business. It may not be a perfect question, but the free market is open. People are free to make decisions on their own on what they value. You are valuable when you canContinue reading “Be Personal in Networking But Don’t Take Things Personally”
Tag Archives: Business Strategy
I Like the Boring Business
When it comes to business building, I like boring. I like creating outputs from inputs. I like throughput. Drama, inconsistencies, high stress and heroics are fantastic for movie plots. But they don’t contribute positively to profit and loss in a business. Boring helps cash flow. Cash flow makes customers, vendors, employees, and owners happy. IContinue reading “I Like the Boring Business”
Overcoming The Valley of Death in Growing Businesses
The idea of growing a business is romantic. That spirit of entrepreneurship, leadership and scaling have a wonderful image of adventure and nobility. In the trenches, when a firm decides they want to grow, it is messy. It is hard work day in and day out to get the strategy clear and the people andContinue reading “Overcoming The Valley of Death in Growing Businesses”
The Goal of Your System
If you are sitting comfortably, there’s not much incentive to improve your systems. However, disruptors such as technology, competition and atrophy (i.e., Groupon), may force your hand to get your systems more efficient. I’ve been sharing out various books around the area of business growth and efficiency lately. A classic I would recommend if youContinue reading “The Goal of Your System”
Build In the Cost
Part of living in reality is accepting all its shortcomings and inefficiencies. All the inputs you may work hard to put into a system – materials, technology, talent, management, etc. – will not work at maximum efficiency or ever be balanced. When your systems become more complex, there is going to be more leakage andContinue reading “Build In the Cost”
The Problem with Infrequency
How do you know the price of something? Ultimately, it’s an agreement between the seller and buyer. You don’t have to pay the price. You could go elsewhere and get what you want cheaper. Or you could forego what you want if it’s not a need. Buyers are at a disadvantage on infrequent items. IfContinue reading “The Problem with Infrequency”
The Terrible Idea of Trying Harder
It is true that when we find ourselves in a hole, the first thing we should do is stop digging. Sometimes that pull to keep digging or keep trying harder can overwhelm our sensibilities. Instead of being smarter, we simply add horsepower and determination. It’s a terrible idea. When something’s not working despite your honest,Continue reading “The Terrible Idea of Trying Harder”
I Want to Grow Opportunities with Apps
I saw this recent statistic to date for number of apps for my Apple devices at 2.2 million and 2.8 million for Google Play! It blows my mind how much technology is available for every average person out there with a thought and a click. We got here fast. When you look at these numbers, doContinue reading “I Want to Grow Opportunities with Apps”
A Little Strategy Please
Any fool can muster up motivation and go for it. You may finally want to act on an idea or make your business work more efficiently in a moment of inspiration. However, acting simply on emotion and motivation without thinking through options, strategies and ideas can get costly and wasteful. It’s a loser’s mindset. DoingContinue reading “A Little Strategy Please”
Test Your Strategies to Discover the Truth
The amount of information that flows into our lives is bewildering. The continual ticker tape of news feeds and stock prices in the old days pales in comparison to every person getting their own say. It’s so easy to push out a post or have an opinion and make it known. I often wonder, especiallyContinue reading “Test Your Strategies to Discover the Truth”