As business owner’s our life blood is in making the sales, but the test in is receiving the payment. We need those payments, they are a measure of success for our business and for ourselves. But what happens when we don’t receive those payments? Here’s what I’ve learned about money from my business. Always have a plan B That old adage about counting your chickens before they … [Read more...]
Selling Your Soul
As an entrepreneur I got into this game to make more money for myself, like everyone else. The thing that I face continuously is should I make the sale or save my soul. The answer is surprisingly easy for me, I save my soul every time. I’m hoping that I rack up enough business karma to hit my goal of a $350m company, but in the meantime here is how I measure the situation. Why … [Read more...]
How to Make Being a CEO Work for You
As an entrepreneur I can’t lie it seems like we have a lot of perks. We think that it’s great because we make our own schedules, we don’t have to answer to anybody and we can set our own fees but let’s be realistic here. The truth is we have none of those things. We do answer to someone, they are called clients and they determine if we will be around to answer to anyone else. … [Read more...]
And the Winner Is…
Success…and then what? As we start our businesses, we are constantly chasing a dream. We work insane hours, sacrifice everything that means anything to us because we know that success is coming. When we finally get it what happens? As I found out that I had been awarded a big contract, a colleague reminded me to not get comfortable with the success, to remember that I was … [Read more...]
Can Small Business learn from the American Airlines Merger?
There is a theory in some circles that small businesses just don’t have what it takes to compete with big business and when we are invited to the table we don’t know what to order. The American Airlines merger gives us a great example of what do look for in a partnership and what we should avoid. Here are some lessons we can take away from the merger. Choose your partners … [Read more...]
The Tao of Business
People think that entrepreneurs are incredibly brave and that we have a plan for everything. The truth is that most days we feel like people are going to find out that we have no clue and that we are just trying to keep from drowning. We are all really good at something that’s why we started a business, but the one thing some of us are not so good at is building ourselves up … [Read more...]
Business by Perception
This week has been a blur of promotions for the Lance Armstrong interview and I’ve begun to wonder, how do you protect the image of your company when your company is you? There is an old adage that says ‘you are the company you keep’, but in this increasingly global marketplace how realistic is that? Is it reasonable to assume we can manage all of our partnerships and alliances … [Read more...]
I Want a Divorce…Business Style!
Nothing is certain in business except that you will form partnerships and sometimes those partnerships will crumble. Not only will they crumble, they will crash and burn. If the partnership has managed to cross business lines and become a friendship that can make the breakup even harder but there is a silver lining. Here’s what your business can gain from having a partnership … [Read more...]
Your Business, Your Leadership
The past week has given me the opportunity to observe the management style of a district manager for a fairly well known retailer. As I have had the horror of observing this individual, I’ve noticed that there are some things that entrepreneurs can learn from this horror movie. The staff mistakes are your mistakes What I have observed is this DM ruthlessly pointing out every … [Read more...]
Back to Basics
As small business owners we routinely perform tasks that larger companies would associate with assistants and receptionists. I answer phones, research client questions as well as conduct meetings and business development. As the economy continues to stall I have found myself performing tasks that even I have had to sit back and wonder if I should be doing them. What I have … [Read more...]