|Posted on January 23, 2019 at 11:10 AM||comments (0)|
Fads and Bubbles
One of the earliest lessons I learned in business was the impact of buying into a fad. In 1981, Rent-a-Wreck determined that offering used cars for rent instead of new cars could be franchised across the country.
With the desire to be my own boss and desperate to leave public accounting, used car rentals seemed like a ground floor opportunity for me. A year later, I realized that renting used cars was a fad tha...Read Full Post »
|Posted on January 22, 2019 at 10:45 AM||comments (0)|
My son-in-law, Brian, met with a mutual friend who previously had been CFO of a well-known publicly traded company. When I asked Brian how his meeting went Brian replied, “He shared an idea with me that I will never forget. ‘You are never as important as you think.’”
For an older wiser businessman of the stature of this former CFO to share this insight with Brian was profound ...Read Full Post »
|Posted on January 21, 2019 at 9:55 AM||comments (0)|
Martin Luther King’s Real Name
Did you know that Martin Luther King Jr. was born Michael King? In 1929, Dr. King’s father spent time in Germany admiring the reformer, Martin Luther. This event moved Mr. King and his teenage son to change their names to Martin Luther King and Martin Luther King, Jr.
Carrying the name of a great reformer like Martin Luther impacted Dr. King’s life. In 1966, when Dr. King ...Read Full Post »
|Posted on January 18, 2019 at 10:30 AM||comments (0)|
Certain of Uncertainty
In an article by Lean Methods Group, uncertainty is stated as one of businesses biggest challenges. Because of uncertainty, managers tend to hunker down and make decisions with consideration for the short-term, but not the long term issues.
We can be certain of the uncertainty in business. Yet, we can be smart to make plans for the long-term, even when our fears tempt us to be short-sighted.
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|Posted on January 17, 2019 at 11:10 AM||comments (0)|
Pitching Your Proposal Part IV
This week we’re discussing Carmen Gallo’s three recommendations for developing a pitch for your organization as discussed in the Harvard Business Review. Gallo’s third tip is to “Make sure your team is unified.”
For a message to stick, every member on your team should know and regularly speak the same message. When the message is consistently communicated by all, other...Read Full Post »
|Posted on January 16, 2019 at 9:25 AM||comments (0)|
Pitching Your Proposal Part III
This week we’re discussing Carmen Gallo’s three recommendations for developing a pitch for your organization as discussed in the Harvard Business Review. Gallo’s second tip is, “Identify one idea you want your audience to remember.”
Gallo recommends that you focus on a need of your customer and focus your one idea around that need. For instance, when Apple launched their first iPod, they promo...Read Full Post »
|Posted on January 15, 2019 at 9:25 AM||comments (0)|
This week we’re discussing Carmen Gallo’s three recommendations for developing a pitch or promoting your organization. The first tip is “Keep it Short.”
Gallo illustrates his point by sharing the pitch that was used to launch Google. The founders, Sergey Brin and Larry Page, told an investor: “Google organizes the world’s information and makes it universally accessible.”
These 10 simple words ...Read Full Post »
|Posted on January 14, 2019 at 10:00 AM||comments (0)|
Pitching Your Proposal Part I
According to molecular biologist, John Medina, the human brain craves meaning more than details. This means, according to Harvard Business Review, that the details will be lost in promoting your organization unless they first hear why your concept is important.
For business leaders your “why” is your pitch or tagline.
Carmen Gallo, a Harvard University instructor, has three recommendations for c...Read Full Post »
|Posted on January 8, 2019 at 9:50 AM||comments (0)|
Common Mistakes for New Entrepreneurs Part II
While coaching a young entrepreneur, I was reminded of several common mistakes made by new business owners. The second mistake I see frequently is inadequate bookkeeping.
For many business owners, bookkeeping and administration is a bother. New business owners often intermingle personal and business monies in the same checking account. Some rarely keep track of their income and expenses, and often they don...Read Full Post »
|Posted on January 4, 2019 at 10:25 AM||comments (0)|
Prolonged Prosperity Part II
When business is booming, it’s tempting to pour your profits back into the business for the sake of expansion. There is a tension, however, in also keeping an eye towards the future.
InRead Full Post »