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This is a question I heard this morning from my dental hygienist! That’s just about the last thing you want to hear from someone wielding a sharp object in your mouth! Luckily for me (and everyone getting into the chair after me) she was referring to her role as owner of a business she had […] Read More
Given my background in finance, I always bristle when I hear someone mention the phrase ROI (Return on Investment), particularly when it relates to a sales situation. The term ROI has become one of the hot buzzwords in the past several years and everyone is using it to“negotiate” when they’re buying something for their business. In most […] Read More
Yes could be a good or bad answer to this question (and no I’m not referring to whether or not you’re in the mafia). It’s a question of whether you answered “Yes, my business is like the TV show Sopranos” or “Yes, my business is like the Soprano family business.” From the TV show perspective, […] Read More
Does customer service start once someone becomes a customer or does it start upon first contact with that person? A common frustration I have as a consumer, whether it be in business or my personal life, is when a company whose product or service I’m considering purchasing is not very responsive. I’ve found this to […] Read More
One of the toughest questions for an owner to answer is “How do I know when the next generation is ready?” Transitioning a business to a new owner is a very difficult and time consuming process once the new owner has been identified, but how do you know that new owner is ready to take […] Read More
Why do so many business owners express a simple solution for what is almost always a complex problem? For example I can expect to hear one or more of the following ‘solutions’ during a discussion with with a business owner talking about the state of their business. All I need are: 1) better people 2) […] Read More
“Dare to be great” is a great phrase! It has been running in my mind for many decades. I believe it is the title of a book about Glen (Ted) Turner’s life or program; not sure which. I’m not a fan of Ted Turner. He’s the super rich guy who started CNN, married Jane Fonda […] Read More
Stop me if you’ve heard this one before. My partner and I are 50/50 owners in our business…UGH! While most partnerships start out with the best of intentions (i.e. we want to split profits down the middle), setting up the ownership of the company can often mess with those good intentions. One of the keys for […] Read More
Over the years we’ve had several clients claim there are “crises” going on in their businesses. These crises have included things like the loss of a major customer, a key employee leaving, or cash shortages. Funny thing is, we (and their team) couldn’t tell by the way they responded to the so-called crisis. They’ll make […] Read More
My wife’s department was recently “reviewed” by some peers. The result of the 2.5 day visit was a 53-page report with HUNDREDS of recommendations. None of these recommendations were prioritized, just simply listed one after another in each of ten plus categories. After I closed my gaping jaw, I asked, “how are you supposed to […] Read More